Trust Sells Remaining Royalty and Milestone Rights

San Diego, Calif., June 27, 2007 – The ATS Liquidating Trust announced today that the United States Bankruptcy Court for the Southern District of California has approved the sale of the Trust’s remaining rights to receive milestone and royalty payments.

With the approval, the Trust has sold for $216,000 in cash, its rights to certain milestone payments and royalty payments (as those terms are defined and used in the Theregen Agreement) that it might receive from Theregen. It also sold, for $10,000 plus the release of a $25,000 reserve, the future milestone and royalty payments conditioned on future product development of the Segenix™ intellectual property rights which the Trust had sold to RegeneMed, Inc.
 
The purchaser of the Theregen Agreement Rights and Duties is Michael Cooney, a private investor from San Francisco. The sale price is the result of an auction between Cooney and Theregen. The purchaser of the Segenix rights is RegeneMed. There were no additional bidders for the Segenix rights.

As required by the Liquidating Plan of Reorganization, the Trustee has been liquidating the Trust's assets for the benefit of the Trust beneficiaries.

With the recent receipt of the cash from the liquidation of the Trust’s remaining assets, the Trustee’s goal is to make a final liquidating distribution to Trust beneficiaries as soon as practical. The timing and final amount of such a distribution will depend on, among other things, the outcome of the litigation initiated by Inamed and final expenses necessary to conclude the Trust’s activities. An announcement of the amount and timing of cash distributions will be posted on the Trust web site.