Cardinal Health to Formulate Revolutionary Cardiovascular Drug.

Business Editors & Health/Medical Writers

MONTGOMERY, Texas--(BUSINESS WIRE)--Oct. 21, 2002

Endovasc Ltd. Inc. (OTCBB:ENVC) - a biotechnology company with two potential blockbuster cardiovascular drugs approved for final FDA Phase III human trials - announced today that it has signed an agreement with Cardinal Health (NYSE:CAH), according to which Cardinal Health will formulate ANGIOGENIX(TM) drug according to cGMP FDA standards. Cardinal has already received USP grade nicotine from the University of Kentucky, where it had been stored after completing the Phase II trials.

Cardinal Health, Inc. - with over $51 billion in sales, and a market capitalization of almost $30 billion - is a leading provider of products and services to healthcare providers and manufacturers, helping them improve the efficiency and quality of healthcare.

ANGIOGENIX(TM) is the revolutionary new treatment that has shown to recruit the body's own stem cells that help grow new blood vessels predicted to relieve chest pain and improve heart function in patients with chronic myocardial ischemia. According to the company, approximately 750,000 patients could be treated for this condition every year.

"We should receive the final ANGIOGENIX(TM) drug by early January. This is the final step before starting the FDA Phase III human clinical trials," says David P. Summers, Chairman and Chief Executive Officer of Endovasc Ltd., Inc.

Cardiovascular and metabolic markets account for more than USD $69 billion in sales volume per year -- 25% of the entire pharmaceutical market. Cardiovascular diseases are the number one cause of death in the Western world today. They account for 50% of deaths worldwide, nearly double of those caused by cancer, the second most prevalent cause of death. It is estimated that in the United States alone, the economic cost of cardiovascular diseases is over USD $250 billion per year. Endovasc has two potential blockbuster cardiovascular drugs approved for final FDA Phase III human clinical trials.

Recent experiments suggest that the company's ANGIOGENIX(TM) treatment can stimulate angiogenesis and recruit the body's own stem cells to spur the growth of new heart vessels predicted to relieve chest pain and improve heart function. Liprostin(TM) is a liposomal prostaglandin-based treatment that studies suggest will prevent restenosis (re-blockage of arteries), thus increasing blood circulation, prevent clotting, and reducing leg pain by increasing the oxygen and nutrients in increased blood flow.

About Endovasc

Endovasc's products include Angiogenix(TM), the revolutionary new treatment that has shown to recruit the body's own stem cells that help grow new blood vessels predicted to relieve chest pain and improve heart function in patients with chronic myocardial ischemia; Liprostin(TM), a liposomal prostaglandin-based treatment that studies suggest may prevent restenosis (re-blockage of arteries), increase circulation, and reduce leg pain in patients due to poor blood flow from vascular disease. Additionally, the company has biodegradable stents, drug-delivery stents and newly discovered nutraceutical applications that may accelerate therapeutic development (stroke, muscular dystrophy diseases, etc.) and quality-of-life of people seeking to increase muscle mass. Another product using prostaglandin E-1 (PGE-1) precursor will be produced as a dietary supplement for obesity in overweight diabetic women.

Endovasc believes that its nutraceutical nicotine-based drinks, fitness bars or capsules (which, according to the company, will contain nicotine levels too low to be habituating or to cause the typical euphoria effects from smoking) combined with high protein complexes could become blockbuster nonprescription products, producing positive cash flow even sooner than its later stage drugs because they are not subject to the FDA approval process.

Endovasc Ltd., Inc., established in 1996, is a biotechnology company focused in the area of cardiovascular disease, pioneering drug delivery technology designed to deliver and release drugs to their intended targets in an efficient and controlled manner. The company's pipeline of products and processes include: Liprostin(TM), ANGIOGENIX(TM), PROStent(TM) stent-coating technology, and a biodegradable stent prosthesis.

The foregoing statements are made under the "Safe Harbor" Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements that involve risks and uncertainties that may not be evident at the time of this release. For more information about Endovasc, please visit www.endovasc.com (Investor questions and requests for materials can be submitted online.)