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Chem Rx Corporation Announces Resignation of Chief Financial Officer
Date:4/2/2008

- Appoints Interim Chief Financial Officer - - Full Year 2007 Results Conference Call Scheduled for Friday, April 4,

2008 at 8:30 a.m. ET -

LONG BEACH, N.Y., April 2, 2008 /PRNewswire-FirstCall/ -- Chem Rx Corporation (OTC Bulletin Board: PMQC, PMQCU, PMQCW), a leading provider of institutional pharmacy services, announced today that its Chief Financial Officer, Charles L. Kelly, has resigned effective April 4, 2008 to accept a senior management position at another publicly traded company outside of the institutional pharmacy industry. Chem Rx has appointed Joseph Sinicropi as interim Chief Financial Officer effective April 5, 2008 and commenced a search for a permanent successor. Mr. Sinicropi brings public company experience and over two decades of financial management, public accounting and capital raising expertise to Chem Rx.

Jerry Silva, Chairman and Chief Executive Officer of Chem Rx, stated, "We thank Chuck Kelly for his contributions that led to our successful transition to a publicly-held operating company. We wish him the best of luck in his new endeavor."

Separately, the Company will hold a conference call to review 2007 financial results and discuss 2008 outlook on April 4, 2008 at 8:30 a.m. ET. Jerry Silva, Chairman and Chief Executive Officer, and Steven C. Silva, President and Chief Operating Officer, will host the conference call. A press release announcing 2007 year-end results and 2008 guidance will be issued on April 3, 2008, after market close. The conference call information will be forthcoming.

About Chem Rx

Founded more than 40 years ago, Chem Rx Corporation is a leading provider of institutional pharmacy services in the New York City metropolitan area, as well as parts of New Jersey, upstate New York, and Pennsylvania. Chem Rx's client base includes skilled nursing facilities and a wide range of other long-term care facilities. Through its services, Chem Rx
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SOURCE Chem Rx
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