Mr. Steve Saviuk reports

VALEO PHARMA ANNOUNCES BOARD OF DIRECTORS CHANGES

Robert Raich and Charles Bisaillon have joined Valeo Pharma Inc.'s board of directors and Michel Trudeau, Stuart Fowler, Didier Leconte and Tamara Close have all resigned from its board of directors.

"We are pleased to welcome Robert and Charles to the Valeo board of directors. They both bring many years of entrepreneurial spirit and experience, and we look forward to benefit from their valuable insight and perspective," said Richard MacKay, chairman. "We would also like to thank Michel, Stuart, Didier and Tamara for their contribution and guidance to our board of directors."

More about Mr. Raich

Prior to establishing RaichLegal Inc., Mr. Raich was a senior partner at Spiegel Sohmer Inc., a Montreal firm specializing in taxation law, where he served as managing partner for over 25 years.

His areas of expertise include taxation advice for real estate transactions, advice to both purchasers and vendors in acquisitions and sales of businesses, corporate reorganizations, venture capital financing, and charitable planning.

Mr. Raich graduated from McGill University and was called to the Barreau du Quebec in 1976. He has been recognized on several occasions as one of the best lawyers in Canada in the fields of taxation law and law of estates and trusts in Canada and has been a frequent guest lecturer at McGill University faculty of law and tax conferences.

More about Mr. Bisaillon

Mr. Bisaillon is an entrepreneurial-minded leader who loves rapidly scaling organizations in both wholesale and direct-to-consumer channels. Mr. Bisaillon is currently president and owner of Airtek Ltee, a leading Canadian manufacturing company, established in Montreal, Que., since 1970. Mr. Bisaillon is also the chief financial officer of Groupe J.B., a residential, commercial and institutional construction company.

Mr. Bisaillon graduated from l'Ecole des sciences de la gestion, UQAM. He is a chartered professional accountant of Canada.

About Valeo Pharma Inc.

Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on respiratory/allergy, ophthalmology and hospital specialty products. Headquartered in Kirkland, Que., Valeo Pharma has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization.

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