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To: Glenn Petersen who wrote (639)	6/21/2007 7:57:35 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

The shareholders of Ithaka Acquisition have approved the merger with Alsius, self-described as "a commercial-stage medical device company that develops, manufactures and sells proprietary products to precisely control patient temperature in hospital critical care settings." Ithaka Acquisition Corp. Receives Stockholder Approval of Merger with Alsius Corporation Thursday June 21, 1:38 pm ET MIAMI--(BUSINESS WIRE)--Ithaka Acquisition Corp. (OTCBB: ITHKU.OB - News, ITHK.OB - News, ITHKW.OB - News) and Alsius Corporation, the maker of the proprietary CoolGard System to precisely control patient temperatures in hospital critical care settings, announced today that the stockholders of Ithaka Acquisition Corp. have approved the merger of the two companies at a special meeting of stockholders held today in New York. It is expected that the merger will close shortly thereafter. Upon the closing of the merger, Alsius will merge with a wholly-owned subsidiary of Ithaka and change its name to Alsius Medical Corporation, and Ithaka will change its name to Alsius Corporation. At closing, the shares, warrants and units of Ithaka Acquisition Corp. will continue trading on the Over-The-Counter Bulletin Board under the symbols OTCBB: ITHKU.OB, ITHK.OB, ITHKW.OB. The Company has applied for listing on the Nasdaq Stock Market and hopes to be listed as soon as possible following the closing. In addition to approving the merger, Ithaka stockholders approved certain changes to the Company's certificate of incorporation relating to the transaction, including the name change and an increase in authorized capitalization. In connection with closing the merger, the Company also will elect seven directors - Paul Brooke, Eric Hecht, Wende Hutton, Jack Lasersohn, Gregory Waller, Kurt Wheeler, and William Worthen. Paul Brooke, Chairman and Chief Executive Officer of Ithaka Acquisition Corp., said, "We are extremely pleased to close this transaction after nearly a year of hard work and appreciate the support shown by our stockholders throughout the merger process. We believe Alsius and its capable team can now focus on growing its business through enhanced sales and marketing efforts, continued product innovation and economies of scale." Bill Worthen, Chief Executive Officer of Alsius, added, "I would like to thank our stockholders, employees and everyone else for their support and contributions during this process. We believe this approval represents a major milestone for Alsius, as we are now optimally positioned to grow our business, add customers and continue working to establish the CoolGard system as a standard for temperature management in the worldwide hospital critical care market." About Alsius Alsius, headquartered in Irvine, CA is a commercial-stage medical device company that develops, manufactures and sells proprietary products to precisely control patient temperature in hospital critical care settings. Controlling body temperature, through cooling and warming, is becoming the standard of care for patients in select critical conditions and those undergoing a variety of surgical procedures. Alsius markets a comprehensive suite of catheter-based intravascular temperature management products that address the largely unmet clinical need for effective, accurate, easy-to-use and cost-effective control of body temperature in critical care patients. Alsius's products consist of the CoolGard system and three families of single-use catheters. The CoolGard system is a computer-controlled temperature regulation system that circulates cool or warm saline in a closed-loop circuit through balloons that surround the catheters. Alsius's catheters are inserted into a major vein through a patient's neck or groin and achieve rapid and precise temperature management through contact with the patient's blood flow. Unlike conventional external temperature management products, such as cooling and warming blankets and ice packs, Alsius's intravascular products cool and warm the patient from the inside out, thereby more effectively managing body temperature and allowing caregivers easier access to administer patient care. For more information on Alsius, please visit www.alsius.com. <snip> biz.yahoo.com