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DEPRENYL RESEARCH CHAIRMAN ISSUES STATEMENT ON SELL ADVISORY

 DEPRENYL RESEARCH CHAIRMAN ISSUES STATEMENT ON SELL ADVISORY
 TORONTO, March 20 /PRNewswire/ -- Deprenyl Research Limited ("Deprenyl") (NASDAQ: DEPLF) Co-Chairman, Morton Shulman, confirmed today that the company cannot understand why James Reynolds at Wedbush Morgan Securities ("Wedbush") issued a sell advisory on its stock yesterday. Shulman has since spoken to David Saks, Wedbush's senior vice president and pharmaceutical analyst, who continues to recommend the stock as a buy, and feels prospects for the company are excellent. In fact, Saks hosted Deprenyl's presentation before the NYSSA (New York Society of Security Analysts) earlier this month, which was very well received. (Transcripts are available). Saks also stated that he is personally planning to buy more shares in Deprenyl and its subsidiaries.
 Shulman stated that, "a number of Deprenyl's major shareholders spoke to Mr. Reynolds yesterday on a conference call after the market closed and have advised us that they found the conversations most unusual. Mr. Reynolds offered no valid explanations for his sudden publication of a sell opinion. He was, in fact, unable to list the company's products, its earnings or revenue estimates, or estimated FDA and HPB approval dates. He admitted that he had no discussions about the company with Deprenyl officials or Mr. Saks, Wedbush's own expert on Deprenyl."
 Shulman noted that there has been major short selling of the stock in recent weeks. "I expect that some of the shorts will use the sudden fall in Deprenyl stock to bail out," Shulman stated.
 Shulman spoke to Reynolds late yesterday and informed him that Deprenyl considers his actions to be entirely inappropriate and will be asking legal counsel whether this matter should be taken to the regulatory authorities.
 Shulman confirmed that Deprenyl expects a record quarter, a record year and that its new drug development is proceeding well. Alzene(TM), its promising new drug being investigated for the treatment of Alzheimer's disease, is already being provided under emergency drug legislation. If usage becomes widespread, as some analysts are predicting, the company will raise its income levels significantly.
 Deprenyl is confident that as management continues to add value to the company its stockholders will be well rewarded.
 Deprenyl Research Limited is an independent Canadian pharmaceutical company which is building a pipeline of products largely devoted to Parkinson's disease and other neurological diseases.
 -0- 3/20/92
 /CONTACT: Morton P. Shulman, co-chairman or James P. Doherty, president, both of Deprenyl Research, 416-537-4372 or FAX 416-537-1653, or Irving L. Straus of Straus Corporate Communications, 212-768-2477 or FAX 212-768-2476, for Deprenyl/
 (DEPLF) CO: Deprenyl Research Limited ST: Ontario IN: MTC SU:


SH-OS -- NY004 -- 9999 03/20/92 09:47 EST
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Publication:PR Newswire
Date:Mar 20, 1992
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