Liponex Annouces Resignation of Director

    OTTAWA, Aug. 15 /CNW/ - Liponex Inc. (TSX:LPX), a biopharmaceutical
company specializing in developing advanced products related to High Density
Lipoprotein (HDL), often called "good cholesterol," announced today that
Andrew Rae has resigned as a director of Liponex in order to concentrate on
his responsibilities as President and CEO of iCo Therapeutics Inc. The Board
of Directors would like to thank Mr. Rae for his many contributions as a
director of the Company, including service on the Audit and Nomination and
Corporate Governance committees.
    "Andrew's business acumen and knowledge of the biotechnology industry
were of great value to Liponex during his tenure with the Board," said Bill
Dickie, President and CEO of Liponex. "We wish him well going forward."

    About Liponex

    Liponex is a biopharmaceutical company specializing in developing
products related to High Density Lipoprotein (HDL), often called "good
cholesterol." Its drug candidates relate to the various roles of HDL as a
transport vehicle, including removing excess cholesterol from the body,
delivering molecules to cells and removing unwanted materials from the body.
Liponex is listed on the TSX under the ticker "LPX". For more information on
Liponex, visit

    Certain of the statements contained in this press release contain
forward-looking statements which involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Statements of
"belief" or "expectation" with respect to the success of enteric coating, the
development of animal models to predict HDL drug effects, the undertaking of
future clinical trials for CRD5 as well as CRD5's efficacy in raising HDL
levels, are based primarily upon results derived to date from the Company's
pre-clinical research and development and its results from completed Phase I
and Phase I/II clinical trials. While the Company believes that it has
reasonable scientific basis upon which to make such statements, it is not
possible to predict whether a new therapeutic agent will be prove to be safe
and/or effective in humans. The Company cannot guarantee that it actually will
achieve the plans, intentions or expectation and undue reliance should not be
placed on those forward-looking statements. The Company does not expect to
update forward-looking statements continually as conditions change. Investors
are referred to the full discussion of risk factors associated with the
Company's business contained in the Company's periodic regulatory filings,
which can be found in the SEDAR database at

    %SEDAR: 00022196E

For further information:

For further information: Investor Relations, Michael Moore, The Equicom
Group Inc., (416) 815-0700 ext. 241,

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