Xenogenics Corp. and Kestrel Equity Partners Limited Sign Funding Pact

Business Wire, Dec 8, 1999

SAN DIEGO, DALLAS--(BW HealthWire)--Dec. 8, 1999--

Exten Industries Inc. (OTCBB:EXTI) and Kestrel Equity Partners, a Dallas-based capital partnership, announced today that a memo of understanding to provide funding has been signed between the two organizations.

This new pact was entered into to fund research, development and FDA testing for the Sybiol(R) synthetic bio-liver being developed by Xenogenics Corp., Exten's majority-owned subsidiary.

The proprietary Sybiol(R) synthetic bioartificial liver (patent pending) is intended to be used as an "artificial liver" to support transplant candidates when no organ donor is available, be used for post-transplant stabilization, and treatment of toxicity secondary to both chronic liver disease and acute hepatotoxic agents. The device is designed to perform a function for the liver similar to that which renal dialysis performs for kidneys, using circulating hepatocytes (liver cells) to provide continuous, sustained removal of human blood toxins outside the liver.

"This new funding should enable us to improve the device function, and not only continue pre-clinical testing of the new generation Sybiol(R) bioartificial liver support technology at Loyola University but proceed to Phase I tests in 2000," said Jerry Newmin, Exten chief executive officer.

Loyola's bioartificial liver research is headed by Dr. John Brems, Loyola University Medical Center.

Xenogenics Corp. and Exten Industries Inc. (OTCBB:EXTI) are at 9620 Chesapeake Drive., Suite. 201, San Diego, CA 92123-1324. For further information call Jerry Newmin or Barbara Corbett: 858/496-0173 or e-mail at extixeno@aol.com. Exten's Web site is http://www.exten.com.

The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.