Titanium Holdings Group, Inc. redeems 12.75% notes early, receives proceeds from new 9.75% secured note

San Antonio, TX, October 1, 2001 -Titanium Holdings Group, Inc (OTC-BB: TTHG), -- Titanium Holdings Group, Inc today announced that it has redeemed all of its outstanding 12.75% notes. The total amount redeemed was $ 1,638,000. The notes were originated in May of 1999 and were due to mature in May of 2002.

In a separate transaction, Titanium Holdings Group, Inc. has received proceeds of $ 1,445,000 from 14 accredited investors on new 9.75% secured notes. The new notes mature 3 years from issue date and are secured against a portion of the IVAX Diagnostics, Inc. (AMEX: IVD) shares owned by Titanium Holdings Group, Inc.

Randall K. Davis, Chairman and CEO stated " This transaction allows the Company to leverage the value of our IVAX Diagnostic shares and save $ 67,000 in annual interest expense." Mr. Davis continued on its IVAX Diagnostic holdings "We continue to actively monitor our substantial investment in IVAX Diagnostic as they implement their acquisition strategy."

Titanium Holdings Group, Inc. current holdings include its wholly owned operation Cleaning Ideas Corp., and its investments in IVAX Diagnostics, Inc. (AMEX-IVD) and Excalibur I, LLC. Mr. Davis serves on the Board of Directors of IVAX Diagnostics.

About Cleaning Ideas Corp.
Cleaning Ideas Corp., located in San Antonio, Texas, is a manufacturer and distributor in the janitorial and sanitary supply industry. Its two divisions comprise nine Cleaning Ideas retail stores and Sanivac/Davis Manufacturing Company a 70-year-old distribution/manufacturing company.

About IVAX Diagnostics, Inc.
IVAX Diagnostics, Inc., headquartered in Miami, Florida, develops, manufactures and markets proprietary diagnostic reagents, instrumentation and software in the United States and Italy through its three subsidiaries: Diamedix Corporation, Delta Biologicals S.r.l. and ImmunoVision, Inc. IVAX Corporation (AMEX: IVX) owns approximately 70% of IVAX Diagnostics, Inc.

About Excalibur I LLC.
Excalibur 1 LLC., located in Lake Success, New York , purchases discounted portfolio's of consumer bad debt. Titanium Holdings Group Inc.'s investment is in the form of a promissory note with a 50% rate of return over the face value of the note. Excalibur 1 LLC. has purchased in excess of one billion dollars of consumer bad debt in the last three years.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Past Release Next Release