LIPOGEN LTD

Lipogen Ltd. ("Lipogen"), operating since 1992,
is one of the world's four largest Phosphatydil Serine (PS)
manufacturers.
Lipogen is selling to customers in Europe, USA and Asia.

The enzymatic reaction process for the production of
LIPOGEN PS utilizes cabbage enzyme instead of the optional
bacterial enzyme. The LIPOGEN PS is the first natural process for
"clean", 100% solvent free phosphatidylserine (PS) and
phosphatidic acid (PA).

The Lipogen phosphatidylserine preparation has been twice
clinically tested in a double blind placebo controlled studies.
Currently this is the only soy derived phosphatidylserine complex
which has been so far tested. The first clinical study with the
Lipogen product was carried out with 72 subjects, randomly
assigned to placebo and therapy groups, who were treated for
three months with 300mg. PS+PA daily. the results indicated a
strong and significant positive influence of the treatment on
both memory and mood, whereas the influence of placebo was small
and non-significant. Components of memory and cognition that were
most improved by the treatment included memorizing information,
visual memory, and memorizing numbers. Mood was also influenced.
Winter mood changes ("Winter Blues") did develop in the placebo
group but were entirely blocked in those treated with soy PS+PA.

In the second clinical trial the treatment group (54 Alzheimer
patients) received a daily dose of 300mg. PS and 150mg. PA (per
os) while the placebo group (40 Alzheimer patients) received a
non relevant placebo material. The trial, which continued for 2
months, has indicated clear mental and physical improvement of
daily functions in the treatment group while most subjects in the
placebo group deteriorated as anticipated in the normal course of
the disease. The difference between the two groups was more
pronounced in patients at the early stage of the disease. A clear
indication for the improvement induced by the PS+PA treatment was
in that 42% of the treatment group - without being informed
whether they belonged to the treatment or the placebo group, by
their own initiative and on their own expenses - continued the
treatment. In contrast, in the placebo group, none at all acted
the same.

Taking into consideration the remarkable clinical results of the
Lipogen phospholipids formulation and the facts that its
components naturally reside in our body provide an attractive
novel product for physicians to consider.