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ASHNI NATURACEUTICALS AND ELAN CORPORATION FORM
A STRATEGIC ALLIANCE TO DEVELOP NUTRITIONAL PRODUCTS

Salt Lake City, Utah - February 15, 20000, Ashni Naturaceuticals, Inc. announced today that it has completed a licensing and collaboration agreement with Elan Corporation, plc (NYSE:ELN) to develop and commercialize certain nutritional products using Ashniís proprietary Genomic BIOprinting™; process and Elanís proprietary advanced NanoCrystal technology. Ashni and Elan will exclusively license, for specific applications, Genomic BIOprinting™; and NanoCrystal technologies respectively to a wholly owned subsidiary of Ashni.

Further, under the terms of the agreement, Elan has made an equity investment in Ashni and will support costs associated with the development of these products. Specific terms are not disclosed.

The Genomic BIOprinting™; process utilizes a combination of genomics and proteomics and signal transduction technologies to rapidly characterize the safety index, potential drug-supplement interactions and the probability of successful clinical outcomes. Elanís advanced NanoCrystal™; technology converts drug particles into stabilized nanoparticles with enhanced wettability and dissolution properties that offer the potential for increased bioavailability of poorly soluble compounds.

"Forming a strategic alliance with Elan, a leading worldwide specialty pharmaceutical company and a pioneer in the field of drug delivery technologies, is a very significant step for our young company," said Dinesh C. Patel, Ph.D., Chairman, President and CEO of Ashni. "The synergy between Elanís drug delivery technologies and our Genomic BIOprinting™ technologies will result in the development of very unique products."

Ashni Naturaceuticals, Inc., with its corporate headquarters in Salt Lake City, and primary laboratory facilities in Ithaca, NY, specializes in the research, development and marketing of clinically tested and patent-protected naturaceutical products.

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