SAN DIEGO, CA, April 12, 2005 - Duff & Phelps, LLC, has been retained by Trans-Pharma Corp. to assist the company in exploring strategic alternatives to maximize shareholder value.

Trans-Pharma is a closely-held company based in San Diego. It is dedicated to the efficacious transdermal delivery of medications directly to the site of therapeutic application, thereby minimizing side effects that can be associated with oral medication. Trans-Pharma's patented platform technology, a PLO transdermal cream, is a versatile vehicle that can support many different medications, including various pain remedies, hormone therapy and a variety of other applications.

David Green, managing director in Duff & Phelps' San Francisco office, said the alternatives being explored by Trans-Pharma include a sale of stock, a merger or asset disposition, and partnering possibilities.

"We believe Trans-Pharma's decision to consider transaction alternatives for its patented Phase I/II transdermal ketoprofen program is well-timed," Green said, "given the problems associated with oral forms of Cox-2 inhibitors, such as Merck's Vioxx and Pfizer's Bextra, which were both pulled from the market recently, and other NSAIDs currently used to treat pain.

"Given the widespread use of topical NSAIDs in Europe, we believe topical pain medication is an idea that will be embraced quickly in the large U.S. market because of its minimal systemic side effects."

Juliet Singh, CEO of Trans-Pharma, said that in considering various options the company will take the course of action that is in the best interest of shareholders. The company has made no decision on any particular alternative and there can be no assurance that the board of directors will decide to proceed with any transaction.

The company assumes no obligation to make any further announcement regarding its consideration of strategic alternatives.

Trans-Pharma has successfully completed Phase I/II clinical trials of its topical ketoprofen cream used to treat soft tissue pain, muscle soreness and inflammation. The company is well positioned to complete the remaining clinical trial to meet the requirements for registration with the FDA.

Duff & Phelps is a national investment banking and financial advisory firm focused on providing merger and acquisition, private placement, valuation, financial opinion and restructuring services to middle market companies. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies.

For additional information related to this transaction, please contact David Green at Duff & Phelps:

David A. Green
Managing Director
505 Montgomery Street
10th Floor
San Francisco, CA 94111
(415) 874-3199