Application to U.S. Federal Authorities.
June 4, 1999

---

We proudly announce that Proneuron has submitted an IND application to the U.S. Food and Drug Administration. The subject of the application is the Phase I clinical trial of our macrophage therapy for treating complete spinal cord injuries. We are now anxiously awaiting the FDA response so that we can make any necessary revisions to meet their requirements. Approval will mean that the clinical trials in Israel are fully recognized by the FDA.