According to Hi-Tech Pharmacal Huperzine A Effective in Slowing Down Age Associated Memory Loss.

Business Editors

AMITYVILLE, N.Y.--(BUSINESS WIRE)--Feb. 27, 2001

Hi-Tech Pharmacal, Co., Inc. (NASDAQ:HITK) announced today that Huperzine A, a natural compound known to have stimulating effect on memory and cognition has been discussed on the CBS Health Watch program on February 18, 2001.

The program was focused on new methods for preventing and slowing down age associated memory loss and the Alzheimer's disease and discussed new therapies including natural compounds, such as Huperzine A.

Hi-Tech participates in the Marco-Hi-Tech Joint Venture developing natural compounds in the Central Nervous System area. The most advanced compound in the pipeline is Huperzine A derived from a Chinese moss that has been traditionally known to have memory and cognition enhancing effects. As part of the CBS Program, Dr. Alan Mazurek reported results from the study conducted in collaboration with Marco- Hi-Tech. In this two year study of the use of Huperzine A in elderly patients, the compound was shown to improve their cognitive abilities and slow down memory loss.

Reuben Seltzer, President of Marco Hi-Tech Joint Venture, commented on the news:

" We are very excited that Huperzine A has attracted increasing attention of leading professionals in the field who, through the media, create awareness of new therapies for preventing age associated memory loss and potentially, the Alzheimer's disease. We are developing natural Huperzine A, as well as its synthetic analogs, in collaboration with prestigious medical researchers at Walter Reed Hospital and other institutions. The data collected on the use of this compound in animal models was quite promising and we have recently initiated a series of controlled human studies in elderly patients with age associated memory loss."

David Seltzer, President and CEO of Hi-Tech, added: "We are pleased to participate in the development of this exciting compound that has demonstrated ability to enhance memory and cognition skills and could potentially address many of the symptoms associated with the Alzheimer's disease".

Hi-Tech is a specialty pharmaceuticals manufacturer and marketer of branded and generic prescription and OTC products for the general health industry. A specialist in liquid and semi-solid dosage form production, Hi-Tech markets a broad line of generic products under its own labels and also serves as a contract manufacturer to the industry. The company's Health Care Products subsidiary is a leading manufacturer and marketer of branded OTC products for the diabetes marketplace.

This release contains forward looking statements that are subject to risk and uncertainties, including but not limited to the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.