Vitro Shareholders Reduce Authorized Shares And Approve New Articles at Annual Meeting

Apr 18, 2001, 01:00 ET from Vitro Diagnostics, Inc.

    LITTLETON, Colo., April 18 /PRNewswire/ -- Vitro Diagnostics, Inc.
 (OTC Bulletin Board:   VODG) announced today the approval of all ballot
 proposals considered at the Annual Meeting of the Shareholders held in Denver,
 Colorado on April 10, 2001.
     The shareholders approved amended and restated Articles of Incorporation
 for the Company.  These restated Articles reconcile inconsistencies of the
 previous Articles and generally update the Articles to be consistent with
 current law.  The newly approved Articles of Incorporation also result in
 substantial change to the capital structure of the Company.  The number of
 authorized shares of common stock was decreased by 90% from 500 million to
 50 million shares, thereby reducing potential dilution to the existing
 shareholders.  The new Articles further authorize an additional 5 million
 shares as a class of preferred stock.  The Board of Directors stated their
 belief that the preferred stock will provide greater flexibility for future
 financing activities.
     Further, the shareholders re-elected Ronald L. Goode, James R. Musick,
 Erik D. Van Horn, Henry C. Schmerler and William J. Schmuhl, Jr. to serve as
 members of the Board of Directors.  These directors have substantial business
 and technical acumen that the Board believes will enhance opportunities to
 leverage the technology base of the Company to increase shareholder value.
     In addition, the shareholders ratified the appointment of Cordovano and
 Harvey, P.C. of Denver as the Company's principal accountants and independent
 auditors.
     The Company's product pipeline includes various forms of purified FSH and
 related products for use in the treatment of infertility. VITROPIN(TM) is a
 highly purified form of urinary FSH produced through the Company's patented
 method.  Additional patent-pending products include VITROPIN-C(TM), custom FSH
 that reduces side effects of current products, VITROPIN-V(TM), a breakthrough
 FSH product produced from a proprietary immortalized cell line, and
 VITROJECT(TM), a novel drug injection device for administration of FSH and
 other drugs.
     The Company is also developing a platform technology to immortalize human
 cells.  VITROCELL-X(TM) is the designation of a series of immortalized cell
 lines in which "X" represents the organ from which the cell line was derived,
 and each of which produces "natural therapeutic" products.  For example,
 "VITROCELL-PG(TM)" is a cell line derived from the human pituitary gland that
 produces FSH.  VITROCELL-X(TM) cell lines are produced by the Company's
 patent-pending method, VITROCELL-X(TM) CELL IMMORTALIZATION TECHNOLOGY, which
 uses controlled over-expression of specific genes to produce cellular
 immortalization.  VITROCELL-X(TM) cell lines may also be used in cell
 therapeutic approaches to treat diseases resulting from cellular degeneration
 such as Type I diabetes and Alzheimer's disease.
 
     Certain statements contained herein, which are not historical, constitute
 "forward looking statements" within the meaning of the Private Securities
 Litigation Reform Act of 1995.  Such forward looking statements are identified
 by words such as "intends," "anticipates," "believes," "expects" and "hopes"
 and include, without limitation, statements regarding the Company's plan of
 business operations, future financings and completion of certain transactions.
 Factors that could cause actual results to differ materially include, among
 others, the following: availability of necessary capital to develop its
 products, acceptability of the Company's product in the market place, approval
 of regulatory authorities, general economic conditions, competition and
 decisions of third parties over which the Company has no control.  Most of
 these factors are outside the control of the Company.  Investors are cautioned
 not to put undue reliance on forward-looking statements.  Except as otherwise
 required by applicable securities statutes or regulations, the Company
 disclaims any intent or obligation to update publicly these forward looking
 statements, whether as a result of new information, future events or
 otherwise.
 
 

SOURCE Vitro Diagnostics, Inc.
    LITTLETON, Colo., April 18 /PRNewswire/ -- Vitro Diagnostics, Inc.
 (OTC Bulletin Board:   VODG) announced today the approval of all ballot
 proposals considered at the Annual Meeting of the Shareholders held in Denver,
 Colorado on April 10, 2001.
     The shareholders approved amended and restated Articles of Incorporation
 for the Company.  These restated Articles reconcile inconsistencies of the
 previous Articles and generally update the Articles to be consistent with
 current law.  The newly approved Articles of Incorporation also result in
 substantial change to the capital structure of the Company.  The number of
 authorized shares of common stock was decreased by 90% from 500 million to
 50 million shares, thereby reducing potential dilution to the existing
 shareholders.  The new Articles further authorize an additional 5 million
 shares as a class of preferred stock.  The Board of Directors stated their
 belief that the preferred stock will provide greater flexibility for future
 financing activities.
     Further, the shareholders re-elected Ronald L. Goode, James R. Musick,
 Erik D. Van Horn, Henry C. Schmerler and William J. Schmuhl, Jr. to serve as
 members of the Board of Directors.  These directors have substantial business
 and technical acumen that the Board believes will enhance opportunities to
 leverage the technology base of the Company to increase shareholder value.
     In addition, the shareholders ratified the appointment of Cordovano and
 Harvey, P.C. of Denver as the Company's principal accountants and independent
 auditors.
     The Company's product pipeline includes various forms of purified FSH and
 related products for use in the treatment of infertility. VITROPIN(TM) is a
 highly purified form of urinary FSH produced through the Company's patented
 method.  Additional patent-pending products include VITROPIN-C(TM), custom FSH
 that reduces side effects of current products, VITROPIN-V(TM), a breakthrough
 FSH product produced from a proprietary immortalized cell line, and
 VITROJECT(TM), a novel drug injection device for administration of FSH and
 other drugs.
     The Company is also developing a platform technology to immortalize human
 cells.  VITROCELL-X(TM) is the designation of a series of immortalized cell
 lines in which "X" represents the organ from which the cell line was derived,
 and each of which produces "natural therapeutic" products.  For example,
 "VITROCELL-PG(TM)" is a cell line derived from the human pituitary gland that
 produces FSH.  VITROCELL-X(TM) cell lines are produced by the Company's
 patent-pending method, VITROCELL-X(TM) CELL IMMORTALIZATION TECHNOLOGY, which
 uses controlled over-expression of specific genes to produce cellular
 immortalization.  VITROCELL-X(TM) cell lines may also be used in cell
 therapeutic approaches to treat diseases resulting from cellular degeneration
 such as Type I diabetes and Alzheimer's disease.
 
     Certain statements contained herein, which are not historical, constitute
 "forward looking statements" within the meaning of the Private Securities
 Litigation Reform Act of 1995.  Such forward looking statements are identified
 by words such as "intends," "anticipates," "believes," "expects" and "hopes"
 and include, without limitation, statements regarding the Company's plan of
 business operations, future financings and completion of certain transactions.
 Factors that could cause actual results to differ materially include, among
 others, the following: availability of necessary capital to develop its
 products, acceptability of the Company's product in the market place, approval
 of regulatory authorities, general economic conditions, competition and
 decisions of third parties over which the Company has no control.  Most of
 these factors are outside the control of the Company.  Investors are cautioned
 not to put undue reliance on forward-looking statements.  Except as otherwise
 required by applicable securities statutes or regulations, the Company
 disclaims any intent or obligation to update publicly these forward looking
 statements, whether as a result of new information, future events or
 otherwise.
 
 SOURCE  Vitro Diagnostics, Inc.