ProPhase Labs, Inc.
PRPH (www.ProPhaseLabs.com) announced today that it has
rejected the revised and unsolicited, non-binding proposal from
Matrixx Initiatives, Inc. ("Matrixx") to acquire the Company for
$1.60 per share in cash. This most recent proposal, like their prior
$1.40 per share proposal, is conditioned on further due diligence by
Matrixx. Matrixx is the owner of the Zicam(R) brand of cold and
allergy products and is a direct competitor to ProPhase's
Cold-EEZE(R) Cold Remedy product line.
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