Astralis Announces Resignation of Chief Executive Officer and Chief Financial Officer

Astralis Announces Resignation of Chief Executive Officer and
Chief Financial Officer 


FAIRFIELD, N.J., July 28  /PRNewswire-FirstCall/ -- Astralis Ltd. (OTC:ASTR)
(BULLETIN BOARD: ASTR)  today announced that Chief Executive Officer Mike
Ajnsztajn and Chief Financial Officer Gina Tedesco have submitted their
resignations effective immediately with respect to their positions as members
of the Company's Board of Directors and effective as of August 26, 2004 with
respect to their positions as Chief Executive Officer and Chief Financial
Officer, respectively.  Dr. Jose O'Daly, Chairman of the Board of Directors and
President of Research and Development, will serve as the Company's interim
Chief Executive Officer.

Dr. O'Daly commented, "We are grateful for the contributions made by Mike and
Gina to our Company.  We intend to continue with our development efforts and
the Board is committed to identifying new members for our management team on an
expedited basis.  With our excellent group, we expect no interruption in our
current programs."

Notes to the Editor

Astralis Ltd., a biotechnology company based in New Jersey, focuses on the
research and development of novel treatments for immune system disorders and
skin diseases.  Psoraxine(R), administered by intramuscular injection, is a
protein-based therapy that is believed to stimulate cells from the patient's
immune system to reverse the inflammatory process responsible for psoriasis
symptoms.  Psoraxine(R) is currently being tested in U.S. Phase II clinical
trials. For more information, visit Astralis' web site at
http://www.astralisltd.com/.

This news release contains forward-looking statements based on information
available to Astralis as of the date hereof.  Astralis' actual results could
differ materially from the results stated or implied by such forward-looking
statements due to a number of risks and uncertainties.  These risks and
uncertainties include, but are not limited to, general economic and business
conditions, changes in governmental laws and regulations relating to the
development and commercialization of pharmaceutical products, and competition
in our industry.  There can be no assurance that our product development
efforts will succeed, that Psoraxine will receive required regulatory clearance
or that, even if such regulatory clearance were received, that Psoraxine will
ultimately achieve commercial success.  Astralis disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. 

DATASOURCE: Astralis Ltd.



CONTACT:  Mike Ajnsztajn, Chief Executive Officer, or Gina Tedesco, Chief

Financial Officer, both of Astralis Ltd., [phone], or fax,

[phone], 



Web site:  http://www.astralisltd.com/ 

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