Mr. Otto Folprecht reports

VODIS PHARMACEUTICALS INC. ANNOUNCES $500,000 NON-BROKERED FINANCING

Vodis Pharmaceuticals Inc. has arranged a non-brokered private placement offering of five million common shares of the company at a subscription price of 10 cents per share. In connection with the financing, a finder's fee will comprise a 7-per-cent cash commission and a 7-per-cent finders' warrants commission. The proceeds of the private placement will be used for expansion into Washington state, United States, and general working capital purposes.