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Sepragen Plans Strategic Restructuring

San Leandro, CA, July 10, 2001 -- Sepragen Corporation (OTC BB: SPGNA), a provider of patented and proven technology, applications and equipment for separation and purification in the nutraceutical and biotech industries, today announced that management is executing a strategic plan to restructure its existing business. Key to this plan is the separation and spin-out of its biotech and nutraceutical businesses.

Vinit Saxena, Sepragen's chairman and CEO, said, "Our decision is prompted by the fact that each of these businesses represents a very large opportunity for growth and each will require separate financing and management focus."

The biotech component will focus on providing a proprietary line of systems and consumables for high throughput clinical development and manufacturing of biological drugs. The production tools are based on a patented, proven technology currently utilized in 12 FDA approved drugs. Top tier customers such as Human Genome Sciences, Schering-Plough Corp. and Baxter International use the tools to increase production and reduce time to market.

Mr. Saxena went on to say, "Recent industry reports indicate that the biotech industry faces a critical shortage of manufacturing capacity. This shortfall is expected to become acute as an increasing number of drug leads enter the development pipeline."

The nutraceutical component will focus on providing high value nutraceutical ingredients for use in a variety of healthful beverages, performance nutrition, geriatric foods, and infant formula. This business will provide technology solutions for new ingredients in the production of the next generation of functional nutrients including extracting high value proteins from whey, isolation of isoflavones from soy and modulation of flavors. Customers currently include Anchor Products and Carbery Foods.

Saxena continued, "functional foods are growing in importance. The popularity of these products such as health promoting beverages, 'performance' foods, 'geriatric' foods, and improved infant formulae is causing rapid growth in the whey protein market. Sepragen is poised to take advantage of these two exciting opportunities."

The company has retained the services of financial advisors to assist with the capitalization and strategic restructuring of the biotech and nutraceutical businesses.

Sepragen is a leading supplier of separation process technology, equipment and consumables to the biotechnology and nutraceutical industries. In addition to its biotech drug separation business, the Company has developed 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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