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VioQuest Pharmaceuticals, Inc Valuation Upgrade Review Issued By Scimitar Equity, LLC
Date:7/29/2008

offer to sell or the solicitation of an offer to buy. Scimitar was paid for preparing this review. This analysis and review does not have regard to the specific investment objectives, financial situation and the information contained herein is based on sources that we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Any opinions expressed are statements of our own judgment as of the date of publication and are subject to change without notice. Please read all our important disclosures.

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Scimitar Equity, LLC

Henry W. McCusker

Director of Research

phone: (617) 559.1080

e-mail: hwm@scimitarequity.com


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