Astralis Expands its Intellectual Property by Filing Two New Patents with the U.S. Patent and Trademark Office.

Business Editors/Health/Medical Writers

FAIRFIELD, N.J.--(BUSINESS WIRE)--Feb. 24, 2004

Astralis Ltd (OTCBB:ASTR) today announced that a patent application was recently filed with the United States Patent and Trademark Office. This patent focuses on the mechanism of action of Psoraxine(R), Astralis' product candidate for the treatment of Psoriasis, expanding the claims to include other medical indications such as Atopic Dermatitis, Psoriatic Arthritis and Rheumatoid Arthritis. In addition, the patent elaborates further on the mechanism of action of Leishmania extracts, which are believed to induce T-cell activation.

A second patent was also filed this month relating to a culture medium for parasitic organisms, which is part of Astralis' technology platform.

On January 6, 2004, the Patent Office issued U.S. Patent No. 6,673,351 B1, entitled Compositions and Methods for the Treatment and Clinical Remission of Psoriasis, to Astralis.

"This is an important aspect of Astralis' research plan designed to expand and strengthen our intellectual property and allow us to continue our research in immunotherapeutic products," commented Jose Antonio O'Daly, MD, PhD., Chairman of the Board of Astralis and inventor of the technology.

Notes to the Editor

Astralis Ltd, a biotechnology company based in New Jersey, focuses on the research and development of novel treatments for immune system disorders and skin diseases. Psoraxine(R), administered by intramuscular injection, is a protein-based therapy that is believed to stimulate cells from the patient's immune system to reverse the inflammatory process responsible for psoriasis symptoms. Psoraxine(R) is currently being tested in U.S. Phase I clinical trials. For more information, visit Astralis' web site at www.astralisltd.com.

Psoriasis

Psoriasis is a chronic, genetically based remitting and relapsing scaly and inflammatory skin disorder that affects approximately 3% of the world's population. Psoriasis symptoms result from the overproduction of skin induced by blood cells associated with the immune system. These blood cells are over-stimulated and act as though the skin was damaged, manufacturing skin cells at a much faster rate than is required by undamaged skin. The overproduction of skin can cause everything from itchy rash like patches to painful pustules and massive inflammation.

This press release may contain forward-looking statements regarding Astralis Ltd. There can be no assurance that PSORAXINE(R) will be successfully developed or manufactured, or that final results of human clinical trials will result in the regulatory approvals required to market products, or that final regulatory approval will be received in a timely manner, if at all, or that patient and physician acceptance of this product will be achieved. Astralis Ltd undertakes no obligation to revise or update any such forward-looking statement to reflect events or circumstances after the date of this release.