Mr. Osvaldo Iadarola reports

Further to the news release in Stockwatch dated April 19, 2001, wherein Osvaldo Iadarola, president and chief executive officer of Audiotech Healthcare Corporation reported that the company expected to conclude the purchase of a 52-per-cent interest in the shares of a well-established and profitable U.S. audiology services business operating two clinics by month's end, it is now anticipated that the proposed transaction will conclude on or about March 3, 2002.