ASXSF Elysee Development Corp (PK)

Remedent, Inc. (OTCBB: REMI), an international company specializing in oral care and cosmetic dentistry products, today announced it had entered into a factoring agreement with First Community Financial for $1 million for receivables arising from iWhite�range of products currently being sold nationally in the USA in drug stores and supermarkets. Remedent began shipping the last quarter ended March 31, 2008 four SKU's, namely its iWhite Teeth whitening kit, iWhite maintenance, iWhite toothpaste and iWhite refill strips into the mass market. "We are very pleased to announce that we have teamed up with First Community Financial to help us grow our�OTC business in the United States," stated Robin List, Chief Executive Officer of Remedent. "This is just another step we need to take to build our OTC business and presence in the USA. The Agreement shall remain in effect until October 16, 2008 and may be renewed for successive six month periods unless terminated under certain non-disclosed conditions. About Remedent, Inc. Remedent, Inc., a publicly-traded company on the OTCBB, specializes in the research, development, manufacturing and marketing of oral care and cosmetic dentistry products. With offices in California, Belgium and Singapore, Remedent distributes its products in more than 35 countries. For additional information, visit Remedent's web site at www.remedent.com. FORWARD-LOOKING STATEMENTS �Safe Harbor� Statement under the Private Securities Litigation Reform Act of 1995: The statements by Robin List, the statements regarding growth of the OTC product line, optimism related to the business, expanding sales�and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company�s business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many factors including continued market acceptance of the Company�s products. In addition, actual results could vary materially based on changes or slower growth in the oral care and cosmetic dentistry products market; the potential inability to realize expected benefits and synergies; domestic and international business and economic conditions; changes in the dental industry; unexpected difficulties in penetrating the oral care and cosmetic dentistry products market; changes in customer demand or ordering patterns; changes in the competitive environment including pricing pressures or technological changes; technological advances; shortages of manufacturing capacity; future production variables impacting excess inventory and other risk factors listed from time to time in the Company�s Securities and Exchange Commission filings under �risk factors� and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.