Trust Reports Collagen Royalties for 4th Quarter of 2004

San Diego, Calif., January __ 2005 – The ATS Liquidating Trust (the “Trust”) today announced that it has received royalties of $376,617.50 from Inamed Corporation (NASDAQ: IMDC) covering Inamed’s collagen sales for the quarter ended December 31, 2004. Inamed makes quarterly payments of royalties under terms of a 1999 contract with Advanced Tissues Sciences, Inc.
The Trustee intends to report royalties and significant cash inflows as they are received rather than waiting until after the end of the respective quarter. The Trustee will continue to prepare a quarterly report and post it on the web site.