Endovasc and Basic Research Agree to Start Stem Cell Recruitment Study Using Angiogenix for...

Business Editors/Health/Medical Writers

MONTGOMERY, Texas--(BUSINESS WIRE)--Oct. 30, 2002

Endovasc Ltd, Inc. (OTCBB:ENVC) - a biotechnology firm with two cardiovascular drugs approved for FDA Phase III trials, announced today that it has signed a Letter of Intent with XM International

"To commence our recently announced $2,500,000/royalty joint venture with Basic Research (Salt Lake City, Utah), Endovasc is starting a pilot experiment to study the recruitment and mobilization of stem cells using Angiogenix in rehabilitation regimens directed toward recovery after accidents, stokes, or broken limbs that have atrophied due to body cast, hospitalization and long term lack of exercise or physical activity.

"We will be excited to see the results of this study, which will focus solely on the potential that Angiogenix may have on stem cell recruitment and mobilization. In past studies we have determined the angiogenic effect of Angiogenix. With this study, we will look for regeneration of muscle tissue using one's own stem cells," said Endovasc Chairman and CEO, Dr. David Summers. "A nutracutical supplement that helps to reduce the recovery period using the body own stem cell system could greatly speed rehabilitation of thousands of victims of such misfortunes would be a marvelous breakthrough, saving millions of dollars in lost work time."

About Basic Research

Basic Research is one of the largest nutraceutical companies in the U.S. with over $50 million in annual sales revenues (est. 2002). The company is also the fastest growing and most profitable vendors for General Nutrition Center (GNC), a subsidiary of Royal Numico N.V. (NUTV.NA). GNC is the market leader in the field of nutritional supplements in the United States, with over 5,300 stores through the U.S. and additional locations in 26 foreign markets.

About Endovasc

Endovasc's products include Angiogenix(TM), the revolutionary new treatment that has shown to stimulate angiogenesis and recruit the body's own stem cells that help grow new heart vessels predicted to relieve chest pain and improve heart function; Liprostin(TM), a liposomal prostaglandin-based treatment that studies suggest will prevent restenosis (re-blockage of arteries), increase circulation, and reduce leg pain due to poor blood flow; biodegradable stents, drug-delivery stents and newly discovered nutraceutical applications that may accelerate development of muscle mass. Other nutricuticals are being developed to and treat obesity in overweight diabetic women. Endovasc believes that its nutriceutical prostaglandin balancers and nutriceuticals that may therapeutically stimulate the body's own stem cells combined with high protein/amino acid complexes could become blockbuster nonprescription products, producing positive cash flow even sooner than its later stage drugs because they are not subject to the FDA approval process.

Endovasc Ltd., Inc., established in 1996, is a biotechnology company focused in the area of cardiovascular disease, pioneering drug delivery technology designed to deliver and release drugs to their intended targets in an efficient and controlled manner. The company's pipeline of products and processes include: Liprostin(TM), ANGIOGENIX(TM), PROStent(TM) stent-coating technology, and a biodegradable stent prosthesis.

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, please visit www.endovasc.com (Investor questions and requests for materials can be submitted online).