ILE Isolagen

EXTON, Pa., Sept. 14 /PRNewswire-FirstCall/ -- Isolagen, Inc. (AMEX:ILE) announced today that state courts in both Pennsylvania and Texas dismissed derivative suits filed against Isolagen and certain of its current and former officers and directors. In the Pennsylvania state derivative action, William Thomas Fordyce v. Frank M. DeLape, et al, C.A. No. GD-05-08432, in the Court of Common Pleas of Chester County, Pennsylvania, Isolagen's motion to dismiss was granted by the Court and the complaint was dismissed with prejudice on August 31, 2006. In the Texas state derivative action, Carmine Vitale v. Frank DeLape, et al, Case No. 2005-61840, in the 55th Judicial District Court of Harris County, Texas, Isolagen's special exceptions were upheld by the Court and the complaint was dismissed on September 6, 2006. "We are very pleased that the Courts in both Texas and Pennsylvania agreed with our arguments and granted dismissal," stated Nicholas L. Teti, Jr., Chairman and CEO of Isolagen. "Although either plaintiff can appeal the ruling in their case or re-file their claims, we are encouraged by this positive development and will continue to defend vigorously against these claims." Both cases were previously disclosed by the Company. A summary of the claims made by the plaintiffs in their complaints and other pending litigation may be found in Part II, Item 1, of the Company's Report on Form 10-Q filed on August 9, 2006. About Isolagen, Inc. Isolagen specializes in the development and commercialization of autologous cellular therapies for soft and hard tissue regeneration. The company's product candidates are based on its proprietary Isolagen Process. Autologous cellular therapy is the process whereby a patient's own cells are extracted, allowed to multiply and then injected into the patient. Isolagen's product candidates are designed to be minimally invasive and non-surgical. For additional information, please visit: http://www.isolagen.com/. This press release includes statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements contained in the release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of Isolagen's control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the caption "Item 1A. Risk Factors" in Isolagen's most recent Form 10-K filing, as updated in "Item 1A. Risk Factors" in Isolagen's most recent Form 10-Q filing. In addition, Isolagen operates in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Isolagen disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement. Readers are also urged to carefully review and consider the various disclosures in Isolagen's annual report on Form 10-K, filed with the SEC on March 14, 2006, as well as other public filings with the SEC since such date. DATASOURCE: Isolagen, Inc. CONTACT: Investor Contact: Lee M. Stern, +1-212-477-9007 x 22, or Marcy Strickler, +1-212-477-9007 x 27, both of The Trout Group; or Media Contact: Mike Beyer, of Sam Brown Inc., +1-773-463-4211, Web site: http://www.isolagen.com/

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