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Gold/Mining/Energy : Immune Network Research ( IMM-V ) -- Ignore unavailable to you. Want to Upgrade?

To: burner who wrote (48)	5/20/1998 4:59:00 PM
From: John Fairchild	Read Replies (1) \| Respond to of 57

FOR: IMMUNE NETWORK RESEARCH LTD. VSE SYMBOL: IMM MAY 20, 1998 Immune Network Research Corporate Update VANCOUVER, BRITISH COLUMBIA--The Board of Directors of the Company has appointed Mr. Dal Brynelson to the Board of Directors following a decision to expand the Board to six members. Mr. Brynelson brings many years of financing and corporate experience to the Company and will be assisting in these areas. The Company and its strategic partner, Immpheron, Inc., are now in the second month of a six month second phase study of its proprietary monoclonal antibody 1F7 in SHIV-infected macaque monkeys as a model of HIV disease which is evaluating the effectiveness of mAb 1F7 as an adjuvant or therapeutic for human infection related to the AIDS virus. The Company has arranged to borrow $50,000 for corporate operations while it reviews financing alternatives to expand the study and acquire related biotechnology projects. The terms of the loan from a shareholder require that the principal accrue interest at the rate of 12 percent per year and that principal and interest must be converted on the earlier of five years, or as regulations permit, into common shares of the Company at a conversion price of $0.15 per share. The Board of Directors has granted Mr. Brynelson a stock option on 125,000 common shares and has amended existing stock options to each of five existing directors to 250,000 common shares and to the Corporate Secretary to 60,000 common shares. The terms for all Company stock options are amended to five years at an exercise price of $0.15 per share. These new and amended stock options are subject to regulatory approval. Agreement has been reached between several holders of escrow shares to transfer some 2.2 million escrow shares among them to Mr. Brynelson, subject to completion of the necessary documentation and regulatory approval. The Annual General Meeting of the Company has been called for June 29, 1998. Victor J.E. Jones, President -30-