Novogen Announces Collaboration Agreement to Bring Cosmetic Products to Market

Market Wire, October, 2007

Novogen Limited (NASDAQ: NVGN) announced today a collaboration agreement to develop new cosmetic applications. The finished products will be manufactured and distributed by a leading cosmetics company, worldwide.

The partnership matches Novogen's expertise in the identification, preparation, analysis and production of compounds with the expertise of a leading global beauty company.

Preliminary research shows that a number of Novogen's compounds have potential in various cosmetic applications. Novogen's patent position is an added benefit to the cosmetics industry at large.

Novogen retains full rights to wound care applications, treatment of burned tissue, hair growth treatments, prescription treatment of skin diseases or skin cancer, injectables of antidote formulations, or trans-dermal delivery of pharmaceutical formulations.

Christopher Naughton, CEO of Novogen, said, "We are proud to be part of the vision, research, and dedication of the cosmetics industry to skin care and look forward to a fruitful partnership."

About Novogen Limited

Novogen Limited (NASDAQ: NVGN) is an Australian biotechnology company which has patented isoflavone technology for the treatment and prevention of degenerative diseases and disorders. Over the past ten years, Novogen has conducted the largest and most comprehensive isoflavone clinical testing programs in the world. Novogen is involved in drug discovery and product development for disorders that are commonly associated with aging and coordinates an international clinical research and development program with external collaborators, hospitals and universities. For more information, visit www.novogen.com .

Statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our failure to successfully commercialize our product candidates; costs and delays in the development and/or FDA approval, or the failure to obtain such approval, of our product candidates; uncertainties in clinical trial results; our inability to maintain or enter into, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes in industry practice; and one-time events. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

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