Greffex is a unique biotechnology company. We have moved from intellectual research through applied research to developmental science and are now fast headed towards the implementation of our commercialization plan.

We are a company founded on the principles of creating innovative therapies for the benefit of mankind while keeping our focus on the value propositions available to us by being novel, successful and progressive.

As we move forward, we are, in addition to our own development plan, providing opportunities for partnering, licensing and co-development to our business colleagues and to institutions that wish to tap into our resources. Our FDHI vector and the associated packaging cell GrE-3©, which we believe is superior to existing packaging cells when coupled with our Ad Vector, will provide us with continuing revenue while we bring to market therapies for transplantation, gene therapy and vaccine development. We offer collaborative associations with any stem cell company struggling with overcoming the immune response inherent in this important research. We invite examination of our claims regarding our vector and our cell line.

We are always seeking potential strategic partnerships with innovative companies who can exploit the advantages our technology offers. Greffex's Strategic Alliance Framework Agreement allows our partners to further enhance their own technologies, while aiding Greffex in developing applications that they need most. We are proud of our Strategic Alliance Program, and we will continue to expand our efforts during the coming years.

We at Greffex thank you for taking the time to look at us and our technology.

John R. Price, MPA

President & Chief Executive Officer