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REGAL ONE CORP. AND XECHEM INC. SIGN LETTER OF UNDERSTANDING JOINING FORCES TO PRODUCE THE PROMISING ANTI-CANCER AGENT, TAXOL

 REGAL ONE CORP. AND XECHEM INC. SIGN LETTER OF UNDERSTANDING
 JOINING FORCES TO PRODUCE THE PROMISING ANTI-CANCER AGENT, TAXOL
 LOS ANGELES, Jan. 24 /PRNewswire/ -- Regal One Corp. and Xechem Inc. of New Brunswick, N.J., have entered into a Letter of Understanding, pursuant to which Xechem will become a wholly owned subsidiary of Regal. Based on that understanding, Dr. Ramesh Pandey, president and chief executive officer of Xechem Inc. will be elected to the board of directors of Regal One Corp., and will be in charge of all scientific developments.
 Xechem is currently concentrating its efforts on the development of new technology for the isolation and production of anti-cancer diterpene, commonly known as Taxol, which is obtained from the bark of the yew tree (taxus brevifolia).
 Taxol is proving itself to be a very promising anti-cancer agent, as it has the ability to regulate the growth cycle of cancer cells. The active chemical compound Taxol is extracted from the bark of the Pacific yew tree found in the Pacific Northwest. Unfortunately, the removal of the bark from the tree destroys the three. This complicates the long- term supply of bark because the Pacific yew is also the habitat of the Spotted Owl which was recently awarded an endangered species status.
 According to information provided by Xechem, Xechem has, since its inception in 1984, produced antibiotics, anticancer and other chemotherapeutic agents via fermentation process, or from natural plant and marine sources. Xechem's first project was the successful development of Vancomycin, for Lyphomed, a major pharmaceutical company, which received Food and Drug Administration approval in early 1987. Other drugs have included: Daunomycin, Adriamycin, Nybomycin Acetate, Dermostatin A and Dermostatin B. Xechem has strived to be on the frontier of advanced biotechnologies with the potential for developing new bioactive molecules for treating diseases.
 Xechem's new, fully equipped, state-of-the-art biotechnology facilities in New Brunswick include 10,000 square feet of working space devoted to research and production activities.
 According to Pandey, Xechem has access to a sufficient quantity of yew bark which has been legally harvested to start the process for producing Taxol. Regal has begun efforts to locate and secure additional supplies of bark on an international basis.
 Pandey has been involved with biomedical sciences for more than 30 years. His team was responsible for the successful development of Vancomycin for Lyphomed, which received approval in early 1987 from the FDA. Pandey is a member of the American Chemical Society, American Society for Microbiology, Society For Industrial Microbiology, American Society of Pharmacognosy, New York Academy of Sciences, American Association for the Advancement of Science, American Society of Hospital Pharmacists and American Association for Cancer Research. Pandey has been a member of the editorial board of the International Journal of Antibiotics since 1986.
 Pandey has made numerous presentations at conferences and seminars, has authored or co-authored more than 60 original scientific papers, and has contributed to several books in the fields of chemistry and biochemistry. Pandey holds patents for biotechnology analysis and rare drug production processes. An experienced staff of biomedical technology scientists works under Pandey's direction at Xechem's laboratories in New Brunswick.
 The Letter of Understanding contemplates that Regal will seek private investments and public funds via a secondary public offering for the purpose of financing the expansion of Xechem. Regal is pleased to have the opportunity of acquiring technology in a field which is current, topical and of immense importance for cancer treatment. Regal intends to perform a due diligence study to determine the validity of Xechem claims. The Letter of Understanding obligates Regal to enter into a definitive and binding agreement with Xechem not later than Feb. 15, 1992 and contains additional terms and conditions. There is no guarantee that Regal will meet these terms by the date designated or that the transaction will be consummated. Interested parties requiring more information regarding Regal, Xechem, or their involvement with Taxol are invited to write as follows:
 Regal One Corp. Xechem Inc.
 ck, NJ 08901
 Attn: Dr. Ramesh Pandey
 Regal is presently engaged in preparing financial and other information for the purpose of updating its filings with the Securities and Exchange Commission. This release is for information purposes only and is not a solicitation of funds.
 Shares of Regal One Corp. are traded Over the Counter (OTC - Pink Sheets). Billboard symbol: REOE.
 -0- 1/23/92
 /CONTACT: Devon Associates, 310-837-3700, for Regal One and Xechem/ CO: Regal One Corp.; Xechem Inc. ST: California IN: MTC SU: JVN


AL-KJ -- LA003 -- 3115 01/24/92 08:04 EST
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Date:Jan 24, 1992
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