Endovasc Provides Status Report on Its $200 Million Case against Alleged Stock Manipulators.

Business Editors/Health/Medical Writers

MONTGOMERY, Texas--(BUSINESS WIRE)--Feb. 13, 2004

Endovasc Inc. (OTCBB: EVSC), a drug development company that pioneers new cardiovascular and metabolic drug therapies, announced today an update on the Company's civil lawsuit against J.P. Turner & Co. LLC et al Inc., Number 02-CV-7313, in the United States District Court, Southern District of New York. The complaint is for damages as a result of an alleged fraud and stock manipulation. The Company is seeking monetary damages in excess of $200,000,000.

According to Dwight Cantrell, CFO of Endovasc, "Our attorneys report the present suit against J.P. Turner & Co., LLC; CCM Group, LLC; LH Financial Services Corp.; Laurus Master Fund, Ltd.; Laurus Capital Management, LLC; Keshet Fund, L.P.; Keshet, L.P., Keshet Management, Inc.; Talbiya B. Investment Ltd.; Nesher, Ltd.; Alon Enterprises Ltd.; Balmore Fund S.A.; Libra Finance S.A.; Celeste Trust Reg.; Patrick Power; Arie Rabinowitz; Abraham Grin; David Grin; Eugene Grin; John Clarke; Thomas Hackl; Francois Morax; Gisela Kindle; Matityahu Kaniel; Seymour Braun; and Shmuel Lmakias is pending outcome of decisions on motions now before Judge Preska. Discovery in the case is stayed pending outcome. Further, our attorneys report the scope of the scheme is more widespread than originally contemplated. They anticipate filing actions on our behalf against other defendants who participated in the scheme resulting in damages to us."

According to Endovasc's attorney, James W. "Wes" Christian, "The theory of our case has been adopted by other companies that have experienced similar losses from 'death spiral' conduct by lender/investors. This spread of other cases and criminal investigations by the attorneys general or U.S. Attorneys of several states has been fueled by the civil enforcement actions and criminal complaint against Thomas Badian, his brother Andreas, and various SEC actions. Mr. Thomas Badien is currently believed to be a fugitive. The conduct of those defendants is the same type of conduct we believe our defendants have engaged in."

Attorney's John O'Quinn and James W. "Wes" Christian represent several other bulletin board companies in their claims for damages against alleged stock manipulators. The cases claim alleged SEC 10b-5 violations, stock manipulation and fraudulent misrepresentation by alleged "investors" whose true intent allegedly was to drive down the company's stock prices through short-selling in order to receive much greater amounts of the company's shares when converting from preferred stock, debenture, or other convertible provision in financing deals with targeted bulletin board companies.

About Endovasc

Endovasc, Inc., established in 1996, is an innovative drug development company with two new cardiovascular and metabolic drug therapies. Endovasc's mission is to design the delivery, and release drugs to their intended targets in an efficient and controlled manner. Endovasc's lead drug candidates include Angiogenix(TM) and Liprostin(TM). Endovasc also has a stent coating technology, PROStent(TM), in pre-clinical trials.

For more information about Endovasc, please visit www.endovasc.com.

Safe Harbor Statement

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.