Endovasc Ltd. Inc. Announces Office Action by U.S. Patent Office On Method of Sterically Stabilized Liposomes.

Business Editors & Health/Medical Writers

BIOWIRE2K

MONTGOMERY, Texas--(BW HealthWire)--Dec. 19, 2001

Patent Office Determines Claims Drawn To Five Separate and

Distinct Inventions Filed By Dr. David P. Summers

And The Late Dr. Danilo Lasic In June 1999

Endovasc Ltd Inc. (OTCBB:ENDV)(Berlin:ED7) today announced the most recent office action by the U.S. Patent and Trademark Office (USPTO) regarding a patent application by Endovasc scientists for sterically stabilized liposomes for retained drug delivery entitled, "Sterically Stabilized Liposomes With Improvement of Blood Retention Times and Targeting of Sites of Disease by Prostaglandins in Particulate Drug Carriers." The USPTO stated that Endovasc's new method claims in the pending application were directed to five distinct inventions classified in different classes and subclasses and requested election under 35 U.S.C. 121 of one invention for further prosecution in the pending application.

"The Office Action came as a pleasant surprise," said Company chairman and CEO, Dr. David P. Summers. "Of course, we are delighted to prosecute each invention separately. As in the case of a major discovery, it sometimes leads to the discovery of different methods of use or preparations. In our case, it is a liposomal or collodial moiety, wherein each of the methods have different modes of operation, different functions or different modes of action and effects and is practiced with materially different components and process steps." According to Vice-President of Research and Development, Dr. Diane Dottavio, "Stabilizing liposomes for extended periods of time for retaining drugs in circulation was the direction being taken by Endovasc researchers, Dr. Summers and the late Dr. Danilo Lasic, shortly before his untimely death. Should these discoveries turn into separate patents, they will significantly enhance the Company's intellectual property and liposome library."

"In the last few weeks of his life, while continuing to work with Endovasc, Dr. Lasic developed plans for approximately 15 new concepts for inventions on liposome drug delivery," said Dr. Summers. "I was privileged to work closely with Dr. Lasic, and because of what we were able to accomplish as a result of his genius, Endovasc and the entire medical community may benefit for years to come."

The Company stated it has elected to prosecute the invention classified in class 424, subclass 496 for a method of sterically stabilizing a liposome for the delivery of PGE-1 and other drugs that avoid uptake by the reticuloendothelial system (RES) from days to weeks and reserved the right to file divisional applications to protect the non-elected inventions. The invention provides for long-term treatment from a single injection for patients suffering from peripheral artery disease (PAD), inflammatory diseases, liver dysfunction and chronic ischemic cerebral vascular diseases.

Endovasc Ltd. Inc. is a biopharmaceutical/biotech company pioneering liposomal drug delivery technology. The Company's products and processes, including Liprostin(TM) (liposome encapsulated PGE-1), NRA (Nicotine Receptor Agonist, angiogenesis agent), stent-coating technology and a biodegradable/resorbable stent, are covered by patents, license and trade secrets for competing in a multi-billion dollar market.

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 Ltd. Inc., contact: