Intrepid Holdings, Inc. Names New Director

Business Wire, June 20, 2005

HOUSTON -- Intrepid Holdings, Inc. (OTCBB:ITPD) today announced the addition of Dr. Ernest Carter, Jr., M.D., Ph.D to its Board of Directors. Dr. Carter is the Managing Director of the Telehealth Sciences & Advanced Technology Center at the Louis Stokes Health Sciences Library at Howard University in Washington, DC.

He is a pioneer in the medical distribution and telemedicine industries and sits on the Board of the National Library of Medicine. As both a healthcare and engineering professional with over 21 years experience in the practice and management of healthcare services he brings a wealth of healthcare delivery knowledge and experience to Intrepid. Over the past decade, Dr. Carter has focused on telemedicine development and implementation, and as such, has designed and implemented telehealth delivery systems for the Howard University/US Virgin Islands Telemedicine project, the Emergency Medicine Internet Teaching Tool for Transkei, South Africa with USAID, the Urban Asthma Care Network, and Howard University's partnership with the Global Development Learning Network.

Dr. Carter is the President of VipMedRx, Inc. ("VMRx") a private healthcare application provider that provides physician web-portal and electronic application products and support services to physicians, clinics, and other healthcare delivery entities across the U.S. Dr. Carter received a Ph.D. in bioengineering from the University of Pennsylvania, his M.D. from Harvard Medical School and a B.A. in Physics from Harvard University.

"As a home delivery and fulfillment pharmacy service, Dr. Carter brings to Intrepid a valuable expertise in medical technology and delivery applications as well as exceptionally strong relationships within the African American and National medical community," stated Maurice Stone, Intrepid's CEO.

This press release contains various forward-looking statements and information, including management's expectations of revenues, earnings per share, operating margins and growth in certain markets that are based on management's belief as well as assumptions made by and information currently available to management. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions including, among other matters, changes in market conditions, availability of funding and competition for venture capital investments. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. For a discussion of the risks, investors are urged to refer to the company's reports filed under the Securities Exchange Act of 1934.