Laredo Investment Corp (LRDI) Announces LeanFit(TM); New Product Test Market in Costco (Canada)

LAS VEGAS, NEVADA--Laredo Investment Corporation (LRDI) President and CEO, Richard Pierce, announced the test market launch of the company's newest product, LeanFit(TM) Balanced High Protein Whey with SoyFerm(TM) in 31 Costco (Canada) stores beginning May 1, 2003.

Laredo wholly owns GFR Nutritionals, Ltd and its subsidiary, R&L Health, Inc. GFR Nutritionals is an established cGMP (current Good Manufacturing Practices) nutritional supplement manufacturing facility located in British Columbia, Canada. The R&L Health(TM) brand of family fitness products is designed for the mass market and pharmacy trades.

LeanFit(TM) is a trademarked category of products within the R&L Health(TM) brand which are designed to "support weight management through better nutrition" and healthier lifestyle choices.

LeanFit(TM) Balanced High Protein Whey with SoyFerm(TM) is the first product in the new LeanFit(TM) line. This delicious, natural, chocolate-macaroon shake powder provides a wholesome source of low calorie protein, low glycemic carbohydrates, and essential fats. Enriched with SoyFerm(TM) (certified organic whole food soy powder) and NuTrim(TM) (oat beta glucan fibre), this LeanFit(TM) product is poised to capture consumers interested in balanced weight management.

R&L Health(TM) launched WheyProtein Powder in Costco (Canada) in October 2000 and has become the best-selling whey protein powder in Costco (Canada). Sales of R&L Health(TM) brand WheyProtein Powder have more than doubled every year since the launch in 2000.

GFR anticipates a positive response from Costco consumers on the introduction of LeanFit(TM) and is poised to launch more test products under the R&L Health(TM) brand in the Costco chain stores.

Certain of these statements contained in this press release may be deemed forward-looking statements. Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from these statements and matters are the risks and other factors detailed, from time to time, in the Company's reports with the Securities Exchange Commission, including, but not limited to, the Company's Annual Reports on Form 10-K and its quarterly reports on Form 10-Q.

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