EquiTech Corporation Announces Appointment of Director of Regulatory Affairs and Clinical Operations

JULY 9, 2002

EDMONTON, ALBERTA--EquiTech Corporation (TSX Venture Exchange: EQT) ("EquiTech"). James Chivers-Wilson, President and CEO of EquiTech, is pleased to announce the appointment of Elizabeth Watts as Director of Regulatory Affairs and Clinical Operations for EquiTech. Ms. Watts has recently moved to Edmonton from the UK where she trained and worked in the pharmaceutical industry for 20 years. She graduated from Queen Elizabeth College, London with a BSc. in Microbiology and has extensive experience in pre-clinical and clinical trial drug research and development. Ms. Watts was co-founder and Clinical Research Director of a UK based full service Clinical Research Organization. EquiTech is particularly pleased to have Ms. Watts on the team says Dr. Fakhreddin Jamali, the discoverer of EquiTech's technology platform and Chief Scientific Officer, as her hands-on experience in designing, implementing and coordinating clinical trials, as well as obtaining approval to market new drugs from government health regulatory agencies will help ensure EquiTech's lead compounds successfully complete clinical trials and comply with Canadian and US with health regulatory organizations.

EquiTech is a publicly listed biopharmaceutical company with a unique technology platform to create and develop better absorbing pharmaceutical products that are taken orally. EquiTech's lead compound is a fast absorbing oral medication for the treatment of moderate acute pain.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities of the corporation have not been and will not be registered under the U.S. Securities Act, 1933, as amended, and subject to certain exemptions may not be offered or sold in the United States or to U.S. persons. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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