AMBI Obtains Option On Patent License for Use of Chromium Supplementation for Depression and PMS; Human Pilot Studies Show Positive Results.

Business & Health Editors

PURCHASE, N.Y.--(BW HealthWire)--Dec. 19, 2000

AMBI Inc.(Nasdaq: AMBI) today announced that it has obtained an option for the exclusive license to two U.S. patents covering the use of all forms of chromium for nutritional supplementation to relieve the symptoms of depression and pre-menstrual syndrome (PMS).

Gail Montgomery, AMBI's President and Chief Executive Officer, commented, "In securing the rights to these patents, we are extending our already strong patent estate encompassing the nutritional uses for which chromium picolinate is sold. The initial human efficacy data for PMS, depression and other mood disorders are very encouraging and the potential market applications are impressive. Additional human studies are currently ongoing. In the interim, we are developing value-added products tailored toward these market opportunities that currently represent approximately $400 million in retail sales.

The discovery of these uses of chromium was made by, and patents issued to, Malcolm N. McLeod MD. Dr. McLeod is a psychiatrist and Professor of Psychiatry at the University of North Carolina School of Medicine in Chapel Hill.

AMBI's Chief Science Officer, Jon de la Harpe, PhD added, "Research performed by Dr. McLeod has shown very encouraging results in people suffering from a variety of forms of depression and in severe cases of PMS. Our near-term task is to expand the human studies at major medical centers to better understand these early findings."

Ms. Montgomery further stated, "We are committed to building on our leadership position in proprietary nutritional ingredients. The development of new and innovative uses for Chromax(R) chromium picolinate is a pivotal company focus in our on-going program to strengthen our core businesses and increase shareholder value."

AMBI develops and markets clinically substantiated products that make a significant contribution to the well-being of consumers.

This press release may contain certain forward-looking statements. The words "believe," "expect," "anticipate" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on the company's current expectations and are subject to a number of risks and uncertainties, including without limitation: the effect of the expiration of patents; regulatory issues; uncertainty in the outcomes of clinical trials; changes in external market factors; changes in the company's business or growth strategy or an inability to execute its strategy due to changes in its industry or the economy generally; the emergence of new or growing competitors; various other competitive factors; and other risks and uncertainties indicated from time to time in the company's filings with the Securities and Exchange Commission, including its most recent Registration Statement on Form S-3, the Prospectus dated April 25, 2000, and its Form 10-K for the year ended June 30, 2000. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this press release will in fact occur. Additionally, the company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.