IntelliPharmaCeutics Corp., of Toronto, Canada, is the Canadian operating affiliate of IntelliPharmaCeutics Ltd., a Delaware corporation. At present, the companies are in the process of becoming fully reporting companies under United States securities laws. An SB-2 Registration Statement to register the common shares of IntelliPharmaCeutics Ltd. will be filed with the SEC in the first quarter of 2006. In the future, a public offering in the United States, Canada, or the United Kingdom may be pursued.

Inquiries concerning investment opportunities in the Company should be directed to the attention of:

John N. Allport, B.A.Sc., M.A., LL.B.
V.P. - Legal Affairs and Licensing
Tel: 416-798-3001
Fax: 416-798-3007
E-mail: jallport@intellipharmaceutics.net

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Sharon Will
Investor Relations
Phone: 518-398-7830
E-mail: sharon@saggicapital.com