DENVER, April 27 /PRNewswire-FirstCall/ -- Chelsea Management Group Inc. (OTC:CLMP) (GR: CS4) is currently negotiating with a joint venture partner for the purpose of marketing and distribution of Chelsea's Psoriasis Complex 7003 cream. The decision was made after the all natural product, which offers proven efficacy for skin conditions such as psoriasis, acne and rosacea, was extremely well received after a recently conducted marketing campaign. The joint venture partner's sole responsibility will be to head up the sales and distribution of Psoriasis Complex 7003. This will allow Chelsea Management Group to continue their focus on their existing business activities, in particular, Chelsea Financial Services Division. About Chelsea Management Group Inc. Chelsea Management Group is a start-up and early-stage venture capital firm focused on the health and life sciences industry. Formed in 2001, Chelsea searches for the winners of tomorrow -- entrepreneurs whose ideas and talents qualify them to pursue large market opportunities successfully. We seek opportunities across a broad spectrum, including biotechnology and pharmaceuticals, medical devices, services and healthcare/life sciences information technology. On a selective basis, we also consider later-stage health and life sciences investments where we can uniquely apply Chelsea's industry and capital markets experience. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward- looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations. DATASOURCE: Chelsea Management Group Inc. CONTACT: Chelsea Management Group Inc., Investor Relations, Gary Kelley, President, +1-303-657-2764

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