ALLEGIANCE EQUITY CORPORATION
TSX VENTURE : ANQ

April 23, 2007 16:14 ET

Allegiance Equity Corporation Files Patent Application for new Treatment to Improve Memory, Cognitive Function, and Vitality of Life

TORONTO, ONTARIO--(CCNMatthews - April 23, 2007) - Allegiance Equity Corporation (TSX VENTURE:ANQ) filed a patent application for an exciting new compound for improvement of memory function, cognitive function, and mental health.

The new proprietary compound, to be named GG-XT, consists of a synergistic mixture of standardized extracts of ginseng and gingko biloba.

Allegiance and its partners are developing product formulations for tablets, capsules, and functional foods containing GG-XT. Allegiance will file a Product License Applications with Health Canada to support the claims for



- Improving memory
- Cognitive function
- Vitality of life


Alzheimers Disease and Dementia

Dementia is a brain disorder that seriously affects a person's ability to carry out daily activities. The most common form of dementia among older people which initially involves the parts of the brain that control thought, memory and language.

It is estimated that up to 45 million Americans suffer from Alzheimers. The disease usually begins after age 60 and risk goes up with age. About 59% of men and women ages 65 to 74 have Alzheimers disease and nearly half of those aged 85 and older may have the disease.

About Allegiance Equity Corporation

Allegiance Equity Corporation ("Allegiance") is the largest shareholder of Prime Pharmaceutical Corporation ("Prime") and holds 6,045,000 common shares out of 16,259,550 which is approximately 37.5% of Prime. Prime owns an extensive portfolio of Patents, Trademarks and Regulatory Approvals for Relieva® (see www.relieva.ca) on effective new and safe treatment for psoriasis, eczema, and atopic dermatitis.

Allegiance also holds 2,050,000 common shares of Innovative Life Sciences Corporation ("ILS") which represents approximately 17.5% equity interest in ILS.

ILS has filed eight Product License Applications with Health Canada for an over-the-counter (OTC) treatment for CM-X™ proven to



- Reduce blood glucose
- Normalize lipid profiles
- Act as an anti-inflammatory and anti-oxidant


Allegiance has undertaken the development of GG-XT on its own account but is expected to license the products it develops and patents.

The TSX Venture Exchange has not reviewed and does not accept responsibility FOR THE ADEQUACY OR ACCURACY FOR THIS PRESS RELEASE, WHICH HAS BEEN PREPARED BY MANAGEMENT.

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