Advanced Business Sciences, Inc. Announces Rescission of Comguard Leasing & Financial, Inc. Share Exchange Agreement.

OMAHA, Neb.--(BUSINESS WIRE)--June 10, 1999--

Advanced Business Sciences, Inc. ("ABS") (Nasdaq OTC:BB:ABSHE) and Comguard Leasing and Financial, Inc. ("CLFI"), today announced an agreement had been reached to rescind the plan and agreement of reorganization, dated September 28, 1998, by and among ABS, CLFI and the shareholders of the CLFI.

The effect of this decision will be to return each company to their respective positions of business operations at the time of the Agreement. In place of the rescinded agreement, the parties have agreed to enter into a strategic relationship to serve the electronic monitoring needs of the criminal justice marketplace in the United States.

"This agreement reflects the mutual desire of ABS and CLFI to concentrate their time and resources on their core capabilities and strategies", said Benjamin J. Lamb, CEO of ABS. "ABS's mission is to be the leader in developing and selling systems to track people and assets anywhere in the world. Obviously, the criminal justice marketplace represents a substantial opportunity for such systems. It was with much thought that we determined we were not well prepared to manage the vertical market integration strategy represented by the agreement with CLFI. Rather, we believe ABS's role should be as a technology partner in the criminal justice market, serving the needs of the many qualified service providers and institutions in that industry. We look forward to a continued working relationship with CLFI to provide the highest quality solutions for offender monitoring."

Advanced Business Sciences, Inc., is a Delaware corporation, with its principal offices in Omaha, NE. It designs, develops, produces, sells, and supports wireless products and services for the tracking and monitoring of people and assets, including the ABS-ComTrak system. This system utilizes Global Positioning System technology, wireless communications, and proprietary software and hardware to provide continuous mobile electronic monitoring of offenders.

Statements in this news release that relate to future plans, financial projections, events or performance, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual result to differ materially. Actual results may differ from such forward-looking statements as a result of a number factors, including but not limited to competitive factors and pricing pressures, ability to obtain necessary capital or financing, successful execution of the Company's business plans, shifts in market demand, general economic conditions and other risks and uncertainties which the Company urges investors to consider.

Note to editors: The hyphen in "ABS-ComTrak" represents a less-than sign, which may not appear in some systems.