Endorex Names New Vice President of Business Development John R. McCracken; Twenty-year Veteran of Searle Brings Experience in International and Financial Management.

Business Editors & Health/Medical Writers

CHICAGO--(BW HealthWire)--Feb. 28, 2001

Endorex Corporation (AMEX: DOR) has named John R. McCracken, Vice President, Business Development reporting to President and CEO Michael S. Rosen.

Prior to joining Endorex Corporation, Mr. McCracken was Global Operations Director of Life Cycle Management at Pharmacia Corporation where, from 1999 to the present, he was responsible for directing product life cycle initiatives with global commercial focus, including commercial assessment of drug delivery systems. Before the merger of Searle and Pharmacia last year, Mr. McCracken's twenty-year tenure at Searle spanned financial management as well as establishment and management of several international business operations.

Michael Rosen, President and CEO of Endorex, explained how Mr. McCracken's extensive experience in pharmaceuticals would be utilized at the Company. "With the successful recruitment of John McCracken, this is the second key hire we have made this year as we restructure our management team to add critical skills to commercialize Endorex's products and drug delivery systems. John brings extensive knowledge of the pharmaceutical industry and a proven track record of international management, joint venture management and business development to our organization."

Mr. Rosen continued, "His expertise should be of great assistance to us for managing our relationships with current corporate partners, Elan, Novo Nordisk, and Watson Laboratories, as well as helping us structure new partnerships with other companies. As Endorex has both an international shareholder and partnership base, John's ability to work fluidly in different cultures and understand the drug development process in different areas of the world enhances Endorex's multinational product and technology development plans."

During the period from 1989 to1999, Mr. McCracken successively directed business initiatives for Searle in over 20 countries, including several Asian countries such as Hong Kong and Singapore. From 1989 to 1995, Mr. McCracken held various executive positions of increasing responsibility in Searle's international operations such as Senior Director and Assistant to the President and CEO, Executive Director of Searle's operations in the former USSR and Central Europe, and Executive Director of International Operations. During the period from 1996 to 1999 as Managing Director, for the areas of Greater China and Korea, and later as Regional Director of Southeast Asia, he was responsible for country operations and business development in this region. In this capacity, he restructured joint ventures in Korea and Taiwan, initiated market entry into China and prepared country operations for the launch of Searle's, Celebrex(R).

Prior to Mr. McCracken's international assignments at Searle, he held several financial positions there including Manager of Capital Planning (1981-1983), Director of Finance and Administration (1984-1987) for the Searle and Synthelabo multi-country joint venture, Lorex, followed by positions as Director, Capital and Projects Analysis and Senior Director Corporate Analysis and Control (1987-1988).

From 1977 to 1981, Mr. McCracken was employed by Abbott Laboratories in various financial roles, initially as a Financial Analyst, advancing to Senior Plant Cost Accountant and finally as Senior Financial Analyst.

Mr. McCracken received a B.A. in Economics from Carleton College in Minnesota and earned his M.B.A. from Northwestern University in Evanston, Illinois majoring in Finance and Accounting.

Endorex is a drug delivery company focused on oral/mucosal delivery of drugs and vaccines to improve the patient quality of life by replacing needle-based therapy. Additional information is available on the Endorex web site at www.endorex.com.

This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that involve a number of known and unknown risks and uncertainties. These statements are only predictions and actual events or results in future periods may differ materially from what is currently anticipated. In particular, we cannot assure you that we will be successful in attracting or retaining skilled personnel, that we will be able to successfully commercialize products based on our technology, particularly in light of the significant uncertainty inherent in developing drug delivery products, conducting clinical trials and obtaining regulatory approvals, that our technologies will prove to be safe and effective, that our joint ventures or our collaborations with other companies in the U.S. and abroad will successfully develop products or become profitable, that we will be able to obtain future financing, or that we will be able to carry out our plans for 2001. In addition to the matters described in this press release, risk factors as described from time to time in Endorex's filings with the Securities and Exchange Commission, including, but not limited to, our most recent reports on Form 10-QSB and Form 10-KSB and Registration Statement on Form S-3, may affect our financial results. We assume no obligation to update the information in this release.