CortDev, Inc.'s Wholly-Owned Coastal Holdings, Inc. in Negotiations to Acquire Interests in two Israeli Biotechnology Firms.

Business Editors

HOUSTON--(BUSINESS WIRE)--April 16, 2004

CortDev, Inc. (CDVJ: Pink Sheets) is pleased to announce that its wholly-owned company Coastal Holdings, Inc. (CSJJ: Pink Sheets), is in the process of completing the acquisition of a stake in two revolutionary Israeli biotechnology firms that will make a shift in the paradigm of their respective fields. The advanced bio-technologies of both companies will be a giant step forward in benefiting and protecting mankind. The companies were screened and identified by the Jerusalem Investment Forum (JIF) and the acquisitions are being negotiated by its directors. Yehuda Glatt of the Yehuda Raveh Legal Office is acting legal counsel. The initial round of investment will be for a total of $5.0M, according to agreed upon milestones.

Beyla Potasz, JIF Director, was quoted as saying that the acquisitions will be financially, mutually beneficial for the new and existing investors in both companies and Israel as a whole. We are very impressed by CEO Mr. A. Cortellazzi's commitment to investing through JIF. We look forward to his forthcoming trip to Tel Aviv on April 27. Coastal Holdings, Inc. will announce the names of the companies at JIFS, an invitation-only luncheon for accredited investors and start up companies, to be held at the Tel Aviv Hilton on April 28.

In regards to all investors who purchased shares of CDVJ with a settlement date of April 9, whether they are still holding them or not, they will still be entitled to receive restricted shares of CSJJ.

For further information please contact Investor Relations at [phone].

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