CITY OF INDUSTRY, Calif., Dec. 14 /PRNewswire-FirstCall/ -- Veltex Corporation (OTC:VLXC) today announced the acquisition of 100% ownership of Mt. Zion Gas Inc., which owns a 88,000 Square foot property located in Mt. Zion, Chicago. The property address is 1515 N. State Highway 121, Mt. Zion, IL 62549. Veltex Corporation is a holding company, and we are pleased to add this oil and gas property to our holdings. The property currently has a viable operating gas station with an attached grocery store, which will add a projected $3 million a year in revenue. In addition, there is a 5,000 square foot warehouse located on the property, which will be used as our Veltex Apparel distribution center for the greater Midwest region. Chicago is one of the largest markets for the Promotional Apparel business. This warehouse will be used for the Chicago distribution center. Javeed Matin, CEO of Veltex Corporation, stated, "This property made perfect sense for Veltex Corporation to own, as we are constantly looking to increase shareholder value. The property already has a revenue stream through its operating gas station and grocery store, which will add a projected $3 million a year in revenue for Veltex with 5-10% net profit." He added, "In addition to having a proven revenue stream, there is a 5,000 SF warehouse that will be utilized for distribution to the Midwest region for our garment and apparel businesses. This will allow us to increase inventory and better assist our customers' needs at a faster pace." Veltex Corporation is currently negotiating another property acquisition and looks to make an announcement on that subject within the next 30 days. Veltex Corporation previously announced earnings per share of $0.29, and revenue of over $53 million through the first nine months of 2006. A copy of the company's full financial report can be found at the company's website, http://www.veltexcorporation.com/. ABOUT VELTEX CORPORATION Veltex Corporation headquartered in City of Industry, California, with distribution centers in the USA, Canada and factories in Bangladesh, is a vertical manufacturing and import/export company with five subsidiaries. It designs and manufactures Brand named apparel and Caps for the promotional products industry. Also, it manufactures high quality custom Headwear for Tommy Hilfiger, specialized textiles primarily for use by manufacturers of automobile interiors, upholstery for furniture manufacturers, and ready to wear garments. It specializes in denim, microfilament, velvet, twill, canvas, duck and pinpoints oxford fabrics. Veltex Corporation is committed to providing superior apparel and textile products to the U.S. and Canada at the lowest possible price and with delivery times superior to any in the industry. It is equally committed to always exceeding customer expectations and shareholder value. FORWARD-LOOKING STATEMENTS Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand. DATASOURCE: Veltex Corporation CONTACT: Veltex Corporation, +1-909-595-1977 Web site: http://www.veltexcorporation.com/

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