Immune Network Ltd.: BC Research Announces EquityFinancing For Azure Dynamics Inc.

Business Editors

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Sept. 26, 2000

ImmuneNet (CDNX:IMM.)

BC Research Inc. announced today that Azure Dynamics Inc., a world leader in hybrid electric vehicle (HEV) technologies (www.azuredynamics.com), has arranged a $1.5 million

Azure was founded in 1997 by Immune Network's technology incubator, BC Research Inc. Azure is commercializing an adaptive hybrid electric drivetrain control technology it believes will replace conventional engine-transmission drivetrains in road vehicles. Today's announced financing enables Azure to complete a test conversion contract for a major national commercial fleet of short haul delivery vehicles.

"We are proud of the initial success of this BC Research spin off company. BC Research has many different technologies, both biotech and non-biotech, that will be commercialized in the months and years to come," said Dr. Allen Bain, CEO of Immune Network and BC Research. "Azure's progress is another example of the capability - in business and in technology - that will allow BC Research to be at the center of technology innovation in Western Canada."

HEVs are becoming the dominant alternative fuel technology with Honda and Toyota introducing new vehicle lines that are currently selling tens of thousands around the world. Ford has announced it will sell the Escape as a hybrid in 2003, while General Motors will sell a full hybrid electric pick-up in 2004. Azure's entry niche is in the delivery vehicle market and it has contracted with a major fleet to deliver a modified vehicle for demonstration early next year. Unlike pure electric vehicles, HEVs maintain acceptable performance while reducing fuel consumption and emissions.

Dr. Nigel Fitzpatrick, President of Azure Dynamics said, "Azure's patented adaptive control technology is applicable to all vehicle classes and all combinations of batteries, ultracapacitors, fuel cells, engines and turbines that will appear in present and future hybrid electric vehicles."

Immune Network Ltd. (CDNX:IMM) is the world's first biotech merchant developer. Its subsidiary, BC Research Inc., is a biotech and general technology services and incubator company. To learn more about Immune Network Ltd. and BC Research Inc., please visit our websites: www.immunenetwork.com and www.bcresearch.com.

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