Applied Genetics Inc. Dermatics -AGI- Named One of Long Island's Fastest Growing Technology Companies in Deloitte Technology Fast 50 Program, Seventh Consecutive Year on Fast 50 List.

FREEPORT, N.Y. -- Applied Genetics Inc. Dermatics (AGI) has been named to Deloitte & Touche USA LLP's prestigious Technology Fast 50 Program for Long Island, a ranking of the 50 fastest growing technology companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 1999-2003.

"The Deloitte Long Island Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment," said Adam Weisman, a partner of Deloitte & Touche LLP's technology, media and telecommunications practice and chairperson of the 2004 Long Island Technology Fast 50. "We applaud the successes of Applied Genetics Inc. Dermatics and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years."

Adds Weisman, "To make the Deloitte Technology Fast 50, companies within Long Island must have had tremendous revenue growth from 1999-2003. In an era where technology companies come and go, making the Deloitte Fast 50 is a testament to a company's vision that allows growth over five years. AGI's leadership has the right stuff for growth, and Deloitte salutes their accomplishments."

Daniel B. Yarosh, Ph.D., Founder and CEO, Applied Genetics Inc. Dermatics, credits uncompromising dedication to achieving recognition for the seventh straight year. Says Yarosh, "AGI is honored to be lauded by the Fast 50 Program. Fast 50 recognition underscores our single-minded commitment to individuals worldwide who use our technology today and are poised to benefit from our future innovations."

To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company's operating revenues (using other companies' technology in a unique way does not qualify); and/or devoting a significant proportion of revenues to research and development of technology.

Winners of the 19 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on the Fast 50 or Fast 500 programs, visit http://www.fast500.com.

About Applied Genetics, Inc. Dermatics

Applied Genetics, Inc. Dermatics is a private biopharmaceutical company focusing on the dermatology and lifestyle enhancement market. The company invents and acquires new molecular biology technology and applies it to products for aging and cancer prevention. These products are based on the Company's proprietary drug delivery technology centered on liposomes for skin. AGI is commercializing products that repair DNA and restore health damaged by age or the environment, tracking the demands of our changing demographics. Among the fields of biotechnology, AGI is a world leader in liposome dermatics, the application of liposome technology to skin, and DNA repair. http://www.agiderm.com.

About Deloitte

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