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Quest PharmaTech announces sale of non-core assets
Quest disengages completely from China

11 Aug 2006 - Quest PharmaTech Inc. has signed an agreement with Shanghai Gaojing Capital Management Co. Ltd., to sell its manufacturing plant in China (Shanghai Hua Gao Pellet Core Pharmaceutical Ltd. or SHGP) for gross proceeds of 1,250,000 RMB (about $175,000). As part of this transaction, the Gaojing Government will cancel $725,000 U.S. of lease obligations owed by Quest. The sale of SHGP completes the Company's strategic decision to disengage completely from China.
 
Continuing the Company's effort to sell its non-core assets, Quest also announced the sale of its AntiCort rights back to Samaritan Pharmaceuticals, Inc. for gross proceeds of $50,000 U.S. and 50,000 common shares of Samaritan. The sale is part of an arrangement whereby Quest has agreed to discontinue its statement of claim that was brought against Samaritan in March, 2006.