Press Releases

American Biogenetic Sciences Signs Agreement with FNG & Associates, Inc.

COPIAGUE, N.Y., Jan. 25 -- American Biogenetic Sciences, Inc. (ABS) (Nasdaq: MABXA - news) today announced that it has retained FNG & Associates, Inc. (FNG) of Newport Beach, California, to provide and support the company with a state-of-the-art financial public relations program. These services will include repackaging the company's collateral materials and assisting the company in distributing corporate press releases as well as introducing ABS to the investment community. Based in Copiague, New York, ABS is a multifaceted biotechnology company that develops diagnostic tests for cardiac conditions and infectious diseases, as well as promising 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 throughout its Global Scientific Network, in the U.S., Europe, Israel, Russia and China.

John S. North, ABS' President and Chief Executive Officer, said, ``We are pleased to announce this relationship with FNG and see it as another step in our strategy to enhance shareholder value and help ABS reach its full potential.'' George Mottel, President of FNG & Associates, said, ``We feel American Biogenetic Sciences is ready to emerge as a major player in the biotech industry and that Mr. North's experience, contacts and vision will take the company to new levels.'' Mr. Mottel added that Mr. North's expertise in international sales and marketing of pharmaceuticals comes in part from nearly three decades with Eli Lilly and Company. ``We are excited to be associated with the company,'' Mr. Mottel said. FNG & Associates provides financial public relations advice and services to small public or about-to-become-public companies in a wide range of industries.

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.