OXIS Launches Investor Relations Effort.

Business Editors & Health/Medical Writers

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PORTLAND, Ore.--(BUSINESS WIRE)--Jan. 27, 2003

OXIS International, Inc. (OTCBB:OXIS) (Nouveau Marche:OXIS) today announced it has retained the services of Investor Awareness, Inc., as its investor relations firm.

Investor Awareness, Inc., which is based in Deerfield, IL is a full service financial and media consulting firm providing privately held and publicly traded companies with customized financial and public relations programs to generate awareness in the worldwide financial community.

According to Ray R. Rogers, president and CEO of OXIS International, "With the significant restructuring that has taken place over the last 12 months and the implementation of our plan underway, OXIS is very well positioned for 2003 and beyond. Now is the appropriate time to tell our story to the financial community."

Rogers added, "We look forward to the launch of our investor relations program with Investor Awareness, Inc. We are confidant that as we go out and discuss our story with small-cap retail stockbrokers and portfolio managers, the program will increase the investment community's awareness of OXIS and its science and products."

OXIS, headquartered in Portland, Oregon, focuses on developing technologies and products to research, diagnose, treat and prevent diseases associated with damage from free radical and reactive oxygen species -- diseases of oxidative stress. OXIS has been awarded more than 45 patents in the United States and Europe, sells 31 oxidative stress assays of which 19 were internally developed, and offers an extensive catalog of products focused on the study of oxidative stress. The Company also holds the rights to three therapeutic classes of compounds in the area of oxidative stress.

This press release contains forward-looking statements that involve risks and uncertainties. Such uncertainties include the Company's ability to fund, partner, out-license or otherwise support certain of its assets; to establish relationships with third parties at terms favorable to the Company; and other risks detailed in the Company's filings with the SEC. These factors could cause actual results to differ materially from those projected in the forward-looking statements.