GammaCan Consummates Initial Investment of $500,000 with an Option of up to $2.5 Million Financing Through Sal. Oppenheim jr. &

      Company Closes on Initial $500,000 Dedicated to Continuing
 Ongoing Phase II Trial Activity of GCAN 101 for Metastatic Cancer and
         to Consummate Joint Ventures and Strategic Alliances

   GammaCan International (OTC BB: GCAN), a developer of
immunotherapies for cancer and other diseases, consummated an initial
investment of $500,000.00, by Sal. Oppenheim jr. & Cie. (Switzerland)
Ltd., with an option for them to invest an additional $2 million in
accordance with a private placement which closed on October 31, 2005.
Details of the transaction have been publicly disclosed in a Form 8-K
filed with the Securities and Exchange Commission on November 3, 2005.
   The use of proceeds will include the continuation of the Company's
Phase II clinical trial of GCAN 101 for the treatment of metastatic
cancer. Additionally, the Company is pursuing key strategic alliances
and joint ventures to further the product pipeline for which the funds
will be utilized.
   "We are pleased to have secured these initial funds which will
allow us to continue our clinical trial activity and potentially open
other sites," stated Vered Caplan, CEO.
   "Sal. Oppenheim jr. & Cie. (Switzerland) Ltd, is the Swiss Branch
of the largest German Private Bank.  Clients of the Bank took down a
private placement in the company," stated the Bank representative.
   "Sal. Oppenheim jr. & Cie. (Switzerland) Ltd represents a strong
partner for Gammacan. Their professionalism and understanding of our
goals, we believe, will lead to a long-term relationship that could be
very beneficial to the Company as it moves ahead," stated Chaime
Orlev, Chief Financial Officer.

   About GammaCan:

   GammaCan is focusing on the commercialization of a revolutionary
anti-cancer immunotherapy that the Company believes will be proven to
be effective in reducing the metastatic spread of a wide range of
cancers. GammaCan's proposed treatment is based on IVIG, a safe,
relatively non-toxic human plasma-based product, currently used to
treat a variety of immune deficiencies and autoimmune diseases. It
works by strengthening the patient's immune system. Many experts
currently view immunotherapy as a future alternative to today's
standard chemotherapy. Approximately twenty companies produce IVIG,
and annual worldwide sales are currently in excess of 50 metric tones
with an estimated value in excess of 1.5 billion USD. IVIG is commonly
used to treat certain autoimmune diseases and blood disorders and to
replace the antibodies in people who are unable to produce them. For
more information about GammaCan visit www.gammacan.com or call the
company's headquarters in Givat Shmuel, Israel at 972 3 5774475.

   Safe Harbor Statement:

   Statements in this document that are not purely historical are
forward-looking statements. Forward-looking statements in this release
include statements regarding: the commercialization of an anti-cancer
immunotherapy and the Company developing the boosting of cancer
patients' immune systems with IVIG into an effective treatment. Actual
outcomes and the Company's actual results could differ materially from
those in such forward-looking statements. Factors that could cause
actual results to differ materially include risks and uncertainties
such as the inability to finance the planned development of the
technology, inability to hire appropriate staff to develop the
technology, unforeseen technical difficulties in developing the
technology, inability to obtain regulatory approval for human use,
competitors' therapies proving more effective, cheaper or otherwise
preferable for consumers, inability to market the product we produce,
among other factors, all of which could among other things, delay or
prevent product release or cause our company to fail. For further risk
factors see the risk factors associated with other early stage medical
research and development companies filed with the SEC on Edgar.