CEO's Comments - October 2001

Friday, 12 October 2001

ASX RELEASE

CEO's Comments - October 2001

Novogen is now undertaking a concerted program of clinical trials. This advanced development phase has commenced with the human studies underway with phenoxodiol, the anti-cancer drug, now under clinical test at the Cleveland Clinic in the USA and at a number of hospitals in Australia. These trials are all with cancer patients for whom established therapies have been tried and ceased to be helpful. Results of these studies will be released progressively by the consulting clinicians as each phase of the trials are concluded.

Additionally, the dermatological compound NV-07α has commenced human trials at the Queensland Institute of Medical Research in Australia. Foreshadowed for 2002 are entry of the cardiovascular compound NV-04 into trials with humans volunteer patients, and human trials with the follow-on anti-cancer compound NV-50 which is targeted particularly for breast cancer.

The Novogen group of companies is continuing also to expand its consumer products franchise with the sales of Promensil, Trinovin and Rimostil around the world. Clinical support for these products is being amassed from specific clinical trials such as the recent double blind placebo controlled Promensil trial showing a significant reduction in hot flushing during menopause. Further persuasive evidence of the importance of these essential dietary supplements to human the health and well-being will be evident from the success of the related-compound drug clinical trials now underway.

Novogen has to date maintained ownership of all the research and commercialisation programs of its consumer and drug developments. However as we approach the phase of drug commercialisation it is open to the Company to enter a new stage and, where appropriate, to selectively partner the larger clinical phases and marketing aspects of some of our programs.

The Company is continuing to amass a portfolio of related patents in the areas covering medical uses of the class of drugs and compounds that are the foundation of Novogen. Patent applications cover area as broad as manufacturing, synthesis, compounds and uses. This patent library has already produced granted patents in the US and is now unfolding across the world. The value of these patents and the results of the human clinical studies will combine to form a powerful technical and commercial portfolio.

The result of our travels from the laboratory to products which are of importance in the treatment of western diseases, will be of significant benefit to patients, and allow shareholders to initiate discovery and participate in reward.