Press Releases

MABA IS THE NEW SYMBOL FOR AMERICAN BIOGENETIC SCIENCES, INC. ON OTC BULLETIN BOARD

Copiague, New York, January 11, 2000 - American Biogenetic Sciences, Inc. (ABS) (formerly NASDAQ:MABAC; now OTCBB:MABA) announced today that its trading symbol changed to MABA, concurrent with its listing on the OTC Bulletin Board. Its symbol on the Nasdaq SmallCap Market had been MABAC. Investors may find online quotations for ABS at internet sites such as: www.cnbc.com, www.cbs.marketwatch.com, and www.ragingbull.com by going to the site and using the new symbol MABA.

The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities.

American Biogenetic Sciences, based in Copiague, New York, researches and develops diagnostic tests for cardiac conditions and infectious diseases, as well as new treatments for neurological disorders including epilepsy, migraine, mania, Parkinson's and Alzheimer's disease. ABS also seeks out new technologies and conducts research and development through its Global Scientific Network in the U.S., Europe, Israel, Russia and China.

Statements in this release that are not strictly historical are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, and should be considered as subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated. For further details and a discussion of these risks and uncertainties, see the Company's Securities and Exchange Commission filings, including its annual report or Form 10-K.