Exhibit 99.1

PROVECTUS
PHARMACEUTICALS, INC.

Provectus Pharmaceuticals Announces Execution of $20.75 Million in
Equity Financing with Cornell Capital Partners, LP


KNOXVILLE, Tenn., July 28, 2004 -- Provectus Pharmaceuticals, Inc. (OTCBB: PVCT)
announced today that it has received a $20.75 million financial  commitment from
Cornell Capital Partners, LP.

Under the terms of the funding  agreements with Cornell Capital Partners,  LP, a
New Jersey-based  domestic  investment fund,  Provectus has obtained $750,000 in
Convertible  Securities  and a firm  commitment  of $20 million  under a Standby
Equity Distribution Agreement. Provectus may, at its discretion, issue shares to
Cornell at any time over the next two years. The maximum aggregate amount of the
equity  placements  pursuant to the  agreement is $20  million.  Subject to this
limitation,  Provectus may draw down up to $1 million per month. The facility is
to be used in whole or part  entirely at  Provectus'  discretion,  subject to an
effective  registration.  Commitment  shares  issued to Cornell are subject to a
120-day  lock-out  period  during  which none of the shares may be sold into the
market. In addition, the Cornell shares carry an anti-shorting provision.

"We are pleased to have been able to structure this sizable  equity  arrangement
with Cornell  Capital  Partners,  LP. In doing so, we  acknowledge  the diligent
efforts of Centre Capital Advisors,  LLC in helping to arrange and structure the
deal," said Peter Culpepper, Provectus CFO.

"Once  effective,  the Standby  Equity  Distribution  Agreement  will provide an
immediate access to capital," said Amir Elbaz, an investment banker with Cornell
Capital  Partners,  LP. "I and the rest of  Cornell  Capital  Partners,  LP look
forward  to  working  jointly  with the  management  of  Provectus  to assist in
achieving their goals."

Managed by US-based  Yorkville  Advisors LLC, Cornell Capital  Partners,  LP has
structured  equity  participation  agreements  in the U.S.,  United  Kingdom and
Australian  financial markets.  Cornell is recognized as a world leader in these
types of agreements  and has made  available in excess of $900 million for close
to 100 publicly  quoted  corporations.  Information  regarding  Cornell  Capital
Partners, LP can be found at www.cornellcapital.com.

Provectus  Pharmaceuticals  Inc. licenses and sells products in three sectors of
the health-care industry: 1) prescription medications and treatments, 2) medical
devices,  and 3)  over-the-counter  (OTC)  pharmaceuticals,  such as  Pure-ific.
Prescription    drug   products   and   devices   address   several   forms   of
difficult-to-treat cancers as well as diseases of the skin. OTC products address
complementary markets, primarily those involving skin care and comfort.



The  company's  offices and  laboratory  are located at 7327 Oak Ridge  Highway,
Suite A Knoxville,  TN 37931;  telephone:  865/769-4011.  For more  information,
contact  the  company  at   info@pvct.com  or  visit  the  corporate  Web  site:
www.pvct.com.

Forward-Looking Statements
This  release  and  others  statements  issued  or made from time to time by the
company  or  its   representatives   contain   statements  that  may  constitute
forward-looking  statements.  Those statements include statements  regarding the
intent,  belief or  current  expectations  of the  company  and  members  of its
management  teams as well as the  assumptions on which the statements are based.
Prospective investors are cautioned that such forward-looking statements are not
guarantees of future performance and involve risks and  uncertainties,  and that
actual  results  may  differ   materially   from  those   contemplated  by  such
forward-looking statements.

- ----------------------------

Corporate Contact: Provectus Pharmaceuticals, Craig Dees, CEO (865) 769-4011
Media Contacts: Hilary Kaye Associates, Hilary Kaye or Eve Gumpel,
egumpel@hkamarcom.com (714) 426-0444 (PDT)


Source: Provectus Pharmaceuticals Inc.