Situs Corporation Names Gary Atkinson Chief Financial Officer

Solana Beach, California, UNITED STATES


SOLANA BEACH, Calif., April 11, 2000, (PRIMEZONE) -- Situs Corp. (www.situscorp.com), a pioneer in intravesical drug delivery, today announced the appointment of Gary J. G. Atkinson, CPA, as Chief Financial Officer.

Mr. Atkinson, 48, brings more than 20 years of experience in corporate financial management. Most recently he served as Vice President, Finance at Isis Pharmaceuticals, a publicly held pharmaceutical research and development company. At Isis, where his responsibilities included the direction of the financial, accounting and treasury functions, including all Securities and Exchange Commission filings, Mr. Atkinson was instrumental in raising over $300 million in various public and private financings and corporate partnerships. Prior to joining Isis, Mr. Atkinson held various financial management positions with Loral Aerospace Corporation, Cubic Corporation and Ernst & Young. Mr. Atkinson is a graduate of Brigham Young University and is a Certified Public Accountant.

W. Tate Scott, President and Chief Executive Officer of Situs, said, "Extraordinary quality employees are the hallmark of successful companies. We are extremely gratified that Gary has decided to join Situs as he clearly possesses those traits and skills that will make a significant contribution to our growth now, and in the future. Moreover, his extensive corporate finance experience will be of incalculable value as we move toward our next phase and to our next level."

Mr. Atkinson said, "Situs is both an exciting company and exciting opportunity. I will be working with a strong, innovative management team and employee base where my skill set and talents in the corporate finance arena, I am certain, will be utilized to their best advantage."

Situs Corporation is a pioneer of intravesical drug delivery. The company's site-specific drug delivery platform is designed to administer various pharmaceutical compounds for the treatment of local and systemic conditions.

The company's first target indication, overactive bladder, affects an estimated 17 million Americans, more than 30 percent of whom cannot tolerate the side effects of oral medications. Other potential applications of the UROS technology include chemotherapeutic agents for bladder cancer, hormones for genitourinary conditions, and analgesics for pain. For further information on Situs Corp., please visit the company's Web site at www.situscorp.com.


        

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