VioQuest Pharmaceuticals (OTCBB:VQPH) will receive approximately $500,000 from
the sale of its Net Operating Losses (NOLs) pursuant to an agreement with the
New Jersey Economic Development Authority (EDA) through its Technology Business
Tax Certificate Transfer Program. VioQuest Pharmaceuticals will sell its unused
NOLs to corporate taxpayers and anticipates receiving approximately $250,000
in 2005 and $250,000 in 2006.