Allegiance Equity Corporation files Patent Application for new treatment to improve memory, cognitive function, and vitality of life

    TORONTO, April 23 /CNW/ - Allegiance Equity Corporation (trading symbol
TSXV: ANQ) filed a patent application for an exciting new compound for
improvement of memory function, cognitive function, and mental health.
    The new proprietary compound, to be named GG-XT, consists of a
synergistic mixture of standardized extracts of ginseng and gingko biloba.
    Allegiance and its partners are developing product formulations for
tablets, capsules, and functional foods containing GG-XT. Allegiance will file
a Product License Applications with Health Canada to support the claims for

    -      Improving memory
    -      Cognitive function
    -      Vitality of life

    Alzheimers Disease and Dementia

    Dementia is a brain disorder that seriously affects a person's ability to
carry out daily activities. The most common form of dementia among older
people which initially involves the parts of the brain that control thought,
memory and language.
    It is estimated that up to 45 million Americans suffer from Alzheimers.
The disease usually begins after age 60 and risk goes up with age. About 59%
of men and women ages 65 to 74 have Alzheimers disease and nearly half of
those aged 85 and older may have the disease.

    About Allegiance Equity Corporation

    Allegiance Equity Corporation ("Allegiance") is the largest shareholder of
Prime Pharmaceutical Corporation ("Prime") and holds 6,045,000 common shares
out of 16,259,550 which is approximately 37.5% of Prime. Prime owns an
extensive portfolio of Patents, Trademarks and Regulatory Approvals for
Reliéva(R) (see on effective new and safe treatment for
psoriasis, eczema, and atopic dermatitis.
    Allegiance also holds 2,050,000 common shares of Innovative Life Sciences
Corporation ("ILS") which represents approximately 17.5% equity interest in
    ILS has filed eight Product License Applications with Health Canada for an
over-the-counter (OTC) treatment for CM-X(TM) proven to

    -      Reduce blood glucose
    -      Normalize lipid profiles
    -      Act as an anti-inflammatory and anti-oxidant

    Allegiance has undertaken the development of GG-XT on its own account but
is expected to license the products it develops and patents.

    The TSX Venture Exchange has not reviewed and does not accept

    %SEDAR: 00007716E

For further information:

For further information: on Allegiance Equity Corporation, contact David
Solomon, President, by telephone at (416) 944-2840, or, or visit

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