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To: SSP who wrote (7907)	8/24/1999 10:31:00 AM
From: SSP	Read Replies (1) \| Respond to of 150070

HIVC- TORONTO--(BUSINESS WIRE)--Aug. 24, 1999--HIV-VAC, Inc., (OTC BB:HIVC) has announced that the Company has received a funding commitment totaling $5 million from an Australian investment group to complete initial test trials of HIV-VAC's AIDS vaccine with the Russian Aids Centre, and later proceed to the Phase III trials and product licensing. Dr. Gordon Skinner, MD (Hons), DSc, FRCOG, FRCPath, is the developer of HIV-VAC's AIDS vaccine. The vaccine has been under development by Dr. Skinner and his team for the past 10 years at the University of Birmingham, United Kingdom. Pre-clinical testing is nearing completion. Like VaxGen (NASDAQ:VXGN) and Vical (NASDAQ:VICL), HIV-VAC is working with alternative methods of creating an effective AIDS vaccine. Unlike these companies, HIV-VAC's vaccine is expected to not only prevent the disease, but also may prevent the onset of AIDS in HIV-positive patients. HIVC has developed its new and very unique approach to the AIDS problem through the creation of a unique intracellular vaccine based on technology proven in clinical trials with herpes genitalis and pre-clinical research into cytomegalovirus and equine herpes vaccines. The United Nations estimates that there are currently 30.6 million people infected worldwide with the AIDS virus. The disease is spreading at a rate of 10,000 people each day. It is estimated that the number of people infected with the AIDS virus by the end of the year 2000 will be 55 million. The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company; the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of implementation and the scope and success of the program described here. --30--cp/mi* CONTACT: HIV-VAC, Inc., Toronto Phil Flynn, Investor Relations 800-392-7961 www.hivvac.com