Market Overview

Neurodyn Appoints Anthony J. Giovinazzo as Director and Executive Chairman

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Neurodyn Cognition Inc. ("NCI" or the "Company"), is pleased to
announce the appointment of Anthony Giovinazzo as a director and
Executive Chairman of the Company. NCI is focused on the development of
Memogain, a prodrug of an approved Alzheimer's therapy with
significantly improved safety and efficacy. Memogain has successfully
completed its Phase I clinical trials and is in the process of raising
funding for its Phase II development program leading to a pivotal
marketing study.

"We are pleased to welcome Anthony Giovinazzo to the NCI Board as our
Executive Chairman,"
said Kenneth Cawkell, CEO of the Company. "Anthony
has a tremendous background in drug development and, equally important,
in securing the required financing.
His experience will be a
significant benefit to the Company as we move forward with the next
phase of Memogain's clinical development program."

During Mr. Giovinazzo's career he has raised in excess of US$750 million
in private and public equity. Most recently, he was responsible for
Cynapsus Therapeutic Inc.'s successful drug development program and
subsequent sale to Sunovion Pharmaceuticals Inc., a member of the
Dianipon Sumitomo Pharma Group, in a CDN $841 million all cash M&A
transaction. Anthony has over 25 years of experience in the biotech
industry and has been the recipient of a number of industry honours and
awards.

"I am looking forward to joining the NCI team and assisting the
Company in completing the successful development and commercialization
of Memogain, which could represent a near term commercialization
opportunity for the underserved Alzheimer's market.
" said Mr.
Giovinazzo.

About Neurodyn Cognition

NCI is a private Canadian biotech company developing Memogain, a
patented prodrug of an approved treatment for Alzheimer's disease,
galantamine (Reminyl®). Memogain's intranasal administration achieves
higher dose levels, with significantly greater brain bioavailability,
while avoiding the compliance impairing gastro-intestinal adverse
effects of existing symptomatic treatments. In addition to improved
cognition the increased brain concentrations enhances the drugs unique
and safe mechanism of sensitization of neuronal nicotinic acetylcholine
receptors, most notably the alpha-7 subtype, which could result in the
potential for disease modifying neuroprotective effects.

The statements made in this news release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual
events or results could differ materially from the Company's
expectations and projections.

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