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July 17, 2003
  Contact: Ginny Ward
(202) 482-1311

Medical Manufacturing Company Honored for its Export Successes

Linda Conlin, Assistant Secretary of Commerce for Trade Development, today presented Abaxis, Inc. with the U.S. Department of Commerce Export Achievement Award. This award recognizes Abaxis' success in exporting to international markets.

"Congratulations to Abaxis on its exporting successes," said Conlin. "The Bush Administration is committed to helping U.S. firms access new markets. When U.S. firms increase their exports, they help build a stronger U.S. economy and increase global economic prosperity."

Abaxis develops, manufacturers and markets portable blood analysis systems for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The company reported a 37 percent increase in international sales, which accounted for 16 percent of total revenues in fiscal 2003.

"International markets have become a key component of Abaxis' growth in recent years," said Vladimir Ostoich, Vice President of Abaxis. "We are gratified for the recognition from the United States Department of Commerce as they have proven instrumental in our ongoing success overseas, providing assistance in matters ranging from securing payment for international accounts receivables to helping us locate distribution partners in Japan, the Middle East and Europe. Abaxis' success in foreign countries is a testament to our technology and our dedication to providing our advanced blood analysis devices to doctors and veterinarians around the world."

Abaxis, Inc. has worked closely with the Department of Commerce since 1998 and has participated in various trade shows, local seminars and other trade programs including hosting overseas delegations. Department of Commerce assistance has helped Abaxis, Inc. sell its analyzers to over a dozen different countries with export sales of over $4 million. Specifically, the Department of Commerce has provided Abaxis with country commercial guides, international market insights, and industry sector analysis reports.

The U.S. Department of Commerce's Export Achievement Award recognizes companies that are business clients of the Department of Commerce U.S. Commercial Service, and that have used their services to make their first export sale, open new foreign markets or overcome exporting challenges.

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