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VaxGen Issues Rebuttal to MedCap Letter
Date:3/25/2008

fficers may be deemed to be participants in the solicitation of proxies from the stockholders of VaxGen in connection with the merger transaction. Information regarding the special interests of these directors and executive officers in the merger transaction is included in the proxy statement/prospectus described above. Additional information regarding the directors and executive officers of VaxGen is also included in VaxGen's definitive proxy statement for its 2007 Annual Meeting of Stockholders which was filed with the SEC on November 21, 2007 and its Annual Report on Form 10-K for the year ended December 31, 2007, which was filed with the SEC on March 18, 2008. These documents are available free of charge at the SEC's web site at http://www.sec.gov and from Investor Relations at VaxGen as described above.


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