Xechem International and Xechem China Sign Cooperation Agreement with Shanghai Fudan Taxusal New Technology Co., Ltd.

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FOR IMMEDIATE RELEASE:

Xechem International and Xechem China Sign Cooperation Agreement with Shanghai Fudan Taxusal New Technology Co., Ltd.

Development of Paclitaxel Analog(s) and Other Natural Products

NEW BRUNSWICK, NEW JERSEY, Mar. 23 -/E-Wire/-- Xechem International, Inc. (OTC BB ZKEM) and Xechem Pharmaceutical China Ltd. today announced that they have signed a cooperation agreement with Shanghai Fudan Taxusal New Technology Co., Ltd. located within the Science and Technology Industry Park of Shanghai Universities. This agreement's objective is the co-development of new paclitaxel soluble analogs and other natural products isolated from Chinese traditional medicines. The signing ceremony was held on February 17, 2001 in Shanghai during Dr. Ramesh Pandey's visit to Peoples Republic of China.

According to Dr. Ramesh Pandey, Xechem's President & CEO, "We are excited with this alliance which is going to be very beneficial to all the parties. Shanghai Fudan Taxusal New Technology Co. is involved in the isolation and purification of paclitaxel and preparation of the next generation of paclitaxel. They have the necessary alliances and contracts with the Taxus yunancesis growers for the raw material and with Fudan University, one of the three top universities in China. The President of the Shanghai Company, Professor Wei Runbai, has the foresight, vision and resources to bring these products to the market."

On signing the agreement, Professor Wei Runbai said "Xechem has contributed significantly to the development of paclitaxel, its analogs and a number of other natural products. We take it seriously to cooperate with Xechem. This alliance will speed up the research and development of Chinese Herbal Medicines and promote pure-compound products into international markets. It will play an important role to introduce the technologies and new natural products."

Mr. C.K. Wong, President of Xechem Pharmaceutical China, Ltd. stated "This cooperation will accelerate the ongoing studies between Xechem International and Xechem Pharmaceutical China, Ltd.".

Xechem International of New Brunswick, NJ, with subsidiary companies in USA, India and joint venture partners in both Hong Kong and Peoples Republic of China, is a biopharmaceutical company of which Xechem, Inc. (a US subsidiary) is engaged in the research, development and production of generic and proprietary pharmaceuticals from natural sources, specializing in the development of niche, generic, difficult to replicate anticancer, antiviral (including Human Immuno-deficiency Virus, HIV) and antifungal compounds. The Company also screens extracts and pure compounds from China and India for their therapeutic use. (See February 14, 2001 press release).

XetaPharm (another U.S. subsidiary) develops quality controlled nutritional products as GinkgoOnceÂ®, GinsengOnceÂ®, GarlicOnceÂ®, Gugulonâ¢, and Co-Enzyme Q-10 and numerous products, which are under development. (www.xetapharm.com)

This and past press releases of Xechem International, Inc. are available at Xechem's web site at www.xechem.com.

Xechem International, Inc.

Dr. Ramesh C. Pandey, President and Chief Executive Officer, (732) 247 - 3300.

http://www.xechem.com

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