Announcement:

SAN DIEGO, CALIFORNIA, May 10, 1999

Investment analysts, stockbrokers and major investors throughout North America are expected to participate in a telephone conference tomorrow with noted medical researchers, Dr. William Cowden and Dr. Brett Charlton, who are also the principals of Praxis Pharmaceuticals Inc., to hear news of the company's most recent corporate and research developments. The doctors are in San Diego to attend a medical conference.

Praxis Pharmaceuticals, a publicly-traded company OTC:BB - Symbol: PRXX, has under development a number of therapeutic products based on carbohydrate chemistry. They are for use in the treatment of diabetes, arthritis, multiple sclerosis, psoriasis, surgical adhesions, ocular inflammation and to treat skin-aging (wrinkles). Praxis also has a patent for a pharmaceutical that has been shown in laboratory tests to prevent the rejection of organ transplants.

Carbohydrate chemistry is the chemistry associated with sugar molecules. The knowledge that human proteins and cells are coated with sugar allows Praxis scientists to use their expertise to facilitate unique proprietary treatments for various medical conditions. Dr Cowden, CEO of Praxis, is one of the few scientists in the world who has worked exclusively in the therapeutic carbohydrate field for over ten years. He is the inventor of seven patents in this field, which have been licensed by pharmaceutical firms including one of the world's largest: Johnson and Johnson.

A number of authorities feel this branch of medical science will be to be the next major breakthrough in the treatment of certain medical conditions. While the Praxis corporate offices are in Vancouver, Canada, laboratory facilities are at the world-famous John Curtin School of Medical Research in Canberra, Australia, where four of that school's scientific faculty have received the Nobel Prize in medicine.

Praxis is currently in negotiations on two fronts - one involves a major financing by an international investment group and the other is a joint venture with a U.S. company to market two of its over-the-counter compounds. One of these compounds is for the treatment of facial wrinkles, which will be an inexpensive replacement for other forms of facial enhancements including surgical face lifts and collagen needle injections. The other compound is for certain forms of arthritis. According to the Arthritis Society, about 37.9 million people, or 15 percent of the American population, have some form of arthritic condition.

Potential market for products currently in the Praxis pipeline is estimated at $80-billion in the United States alone. So far research and development costs for the medical technology Praxis has under license exceeds $9-million.

THE PRAXIS WEB SITE IS:

http://www.praxis-pharmaceuticals.com

END

COMMENTS (Eugene Fox)

It is said that imitation is the highest form of flattery, and it’s not hard to see Mannatech being imitated here. This world class drug company has looked at carbohydrate technology -the science pioneered by Mannatech - and has seen its validity. Now it is doing everything possible to deal itself in. Not without reason, they speculate that this "carbohydrate chemistry" could make them the next mammoth Merck or Johnson & Johnson. They know they are onto something huge. That’s why they’ve invested millions of dollars and ten years of research to get this far.

Notice the statement Praxis makes about carbohydrate technology:

"Carbohydrate chemistry is the chemistry associated with sugar molecules. The knowledge that human proteins and cells are coated with sugar allows Praxis scientists to use their expertise to facilitate unique proprietary treatments for various medical conditions. Dr Cowden, CEO of Praxis, is one of the few scientists in the world who has worked exclusively in the therapeutic carbohydrate field for over ten years. He is the inventor of seven patents in this field, which have been licensed by pharmaceutical firms including one of the world's largest: Johnson and Johnson." In short, they have seen the validity of the science.

And look at the efficacy they anticipate. "They (carbohydrate drugs) are for use in the treatment of diabetes, arthritis, multiple sclerosis, psoriasis, surgical adhesions, ocular inflammation and to treat skin-aging (wrinkles). Praxis also has a patent for a pharmaceutical that has been shown in laboratory tests to prevent the rejection of organ transplants." But note, these products are still "under development". There are years of extremely expensive clinical trials ahead before the products can be approved. By contrast, by virtue of the fact that they are foods, Mannatech’s nutraceuticals are safe and need no such drug trials. This allows Mannatech to go directly to the market, and to gather data from human use as they do.

Praxis has invested ten years. Mannatech's Dr. Bill McAnalley, the father of this technology, has about a ten-year head start. As well, there is a huge difference between the two research approaches. Drug companies attempt to replicate what God has provided in nature by creating manufactured synthetic substances. This is extremely difficult, if not impossible, to do. Mannatech works with natural substances as found in nature. This gives Mannatech a terrific leg up.

What’s driving all this? Well, there really are no pharmaceuticals that are truly effective against chronic diseases - and the incidence of those diseases is multiplying constantly (notice the numbers Praxis gives). As far as this new carbohydrate technology is concerned, Praxis says it well: "A number of authorities feel this branch of medical science will be to be the next major breakthrough in the treatment of certain medical conditions." Absolutely! This will be the next major breakthrough. Count on it. Mannatech has been saying this for years. However, it will really help the general public and also the medical profession to hear this coming from such a familiar, trusted source - and to see multiplied millions of dollars being spent on the research. This is giving the technology much added credence.

One of Mannatech's problems (if indeed you can call it a problem) is that they have been ahead of their time. But that’s changing, as Praxis’ announcement shows. The awareness of nutraceuticals in general, and carbohydrate technology in particular, is mounting. This is a huge paradigm shift, and it will leave nothing unchanged. Little wonder, then, that drug companies want to get in on it.

As fast as the changes are coming, your family and friends need to know about this vital science now. The needs are everywhere. To quote Praxis again, "A number of authorities feel this branch of medical science will be to be the next major breakthrough in the treatment of certain medical conditions." But why wait? The need is now and the benefits of the natural products are available now. So why wait?