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Sepragen Corporation Announces Q2 Results; Losses Narrow

HAYWARD, CA, September 3, 1999 - Sepragen Corporation (OTC BB: SPGNU, SPGNA, SPGNW) announced its second quarter results today. Sales were up 56% to $330,206 when compared with $211,471 for the same quarter last year and up a modest 5% for the year at $883.867 compared to $843,804 for YTD last year. YTD and quarterly losses, however, were reduced by over 50% with a YTD reduction from $785,345 to $373,494.

Commenting on Sepragen’s financial results, Vinit Saxena, Sepragen’s CEO said, “Sepragen is proceeding in a disciplined manner to reduce losses and grow its biotech business. At the same time, we are focused on commercializing the dairy and nutraceutical opportunities by ensuring continued operational and technical support for our licensees.” Sepragen had previously announced licensing agreements with market leaders, Anchor Products, Ltd. of New Zealand and Carbery Food Ingredients of Ireland, for its patented Sepralac® Process to make ingredients for next generation sports beverages and infant formula.

Sepragen Corporation develops and markets technology along with equipment and supplies for process chromatography applications. Sepragen has developed a number of patented applications that provide large market opportunities in the food and beverage industry, including debittering citrus juices, extracting isoflavone (plant estrogen) from soy, as well as extracting proteins from whey. The company holds over 14 issued patents relating to its core technology.

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The statements in this release that relate to future events or performance, statements about growth, future regulatory clearances, levels of sales and market size and future manufacturing capacity and efficiencies are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties related to the development of markets for and commercial acceptance of the company's products and services, the availability of components, competitors' product introductions and other risks identified in the company's SEC filings. Actual results may differ from those described in these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.


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