Vasogen Receives NASDAQ Notification Related to Minimum Bid Price

    MISSISSAUGA, ON, Aug. 17 /CNW/ - Vasogen Inc. (NASDAQ:  VSGN; TSX:VAS),
today announced that the Company received a letter from the Listing
Qualifications Department of The NASDAQ Stock Market indicating that Vasogen
had not regained compliance with Listing Rule 5550(a)(2).
    We plan to request a hearing before the NASDAQ Listing Qualifications
Panel ("the Panel") to review the NASDAQ's determination of the continued
listing of our common stock. We expect that any discussions with the NASDAQ
regarding our plans for regaining compliance will be impacted by the proposed
transactions announced on August 17, 2009. There can be no assurance that the
Panel will grant a request for continued listing on the NASDAQ Capital Market.
    The notice has no effect on the listing of Vasogen's common stock at this
time, and our common stock will continue to trade on the NASDAQ Capital Market
under the symbol "VSGN", as well as on the Toronto Stock Exchange under the
symbol "VAS".

    Certain statements in this document constitute "forward-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and/or "forward-looking information" under the
Securities Act (Ontario). These statements include, without limitation, our
plans to complete the business combination resulting from our strategic
review, which is described in the press release dated August 17, 2009,
statements regarding the status of development, or expenditures relating to
our business, plans to fund our current activities, statements concerning our
partnering activities, health regulatory submissions, strategy, future
operations, future financial position, future revenues and projected costs. In
some cases, you can identify forward-looking statements by terminology such as
"may", "will", "should", "expects", "plans", "anticipates", "believes",
"estimated", "predicts", "potential", "continue", "intends", "could", or the
negative of such terms or other comparable terminology. We made a number of
assumptions in the preparation of these forward-looking statements. You should
not place undue reliance on our forward-looking statements, which are subject
to a multitude of risks and uncertainties that could cause actual results,
future circumstances or events to differ materially from those projected in
the forward-looking statements. These risks include, but are not limited to,
the outcome of our strategic review, securing and maintaining corporate
alliances, the need for additional capital and the effect of capital market
conditions and other factors, including the current status of our programs, on
capital availability, the potential dilutive effects of any financing and
other risks detailed from time to time in our public disclosure documents or
other filings with the Canadian and U.S. securities commissions or other
securities regulatory bodies. Additional risks and uncertainties relating to
our Company and our business can be found in the "Risk Factors" section of our
Annual Information Form and Form 20-F for the year ended November 30, 2008, as
well as in our other public filings, including our Management's Discussion and
Analysis for the period ended May 31, 2009. The forward-looking statements are
made as of the date hereof, and we disclaim any intention and have no
obligation or responsibility, except as required by law, to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.

    %SEDAR: 00001047E          %CIK: 0001042018

For further information:

For further information: Investor Relations, 4 Robert Speck Parkway,
15th Floor, Mississauga, ON L4Z 1S1, tel: (905) 817-2002, fax: (905) 847-6270,,

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