October 26, 2009

Virogen Inc, symbol VRGN.pk has completed the spin off of its vaccine business into a private entity. The original founders and private investors of Virogen have agreed to acquire the business in exchange for certain funding commitments and debt exchange. The private investors feel strongly in the opportunity available and will continue to execute the existing business model. In executing this transaction the company recognized the long term risks to shareholders in launching a new biological vaccine in the world markets, investments required, and the challenges involved in acquiring revenue streams in the short and midterm which in this environment is not well suited the needs and requirements of a public company. . In order to maximize shareholder value VRGN has become a holding company that has acquired the rights to a license and joint venture with Evotech Technologies. Under terms of the agreement VRGN will share on a equal basis all revenues derived from the marketing and sales of a suite of proprietary tools developed by Tiger Team Technologies to address the very pressing issues of network security in China. In addition VRGN will receive a 30% equity stake in a new entity to be formed for this purpose. Evotech Technologies has a long history of success with its portfolio companies in China and the company looks forward to continued success with the new joint venture in the Asian market place. In moving forward with this transaction the company looks forward to enhancing shareholder value with this asset base and anticipated revenue streams in the near to mid term.