FRAMINGHAM, MA–( EMWNews – April 7, 2008) – The GI Company, Inc., a privately held

developer of gastrointestinal therapeutics, today announced that an

abstract detailing combined results from its Phase I and Phase II clinical

trials has been accepted for a poster presentation at the Multinational

Association of Supportive Care in Cancer’s and the International Society of

Oral Oncology’s 2008 International Symposium on Supportive Care in Cancer

(MASCC / ISOO). The symposium takes place June 26-28, 2008 at the Hilton

Hotel Houston, Texas.

The abstract is titled, “Recombinant human intestinal trefoil factor

(rhITF) oral spray for prophylaxis of chemotherapy-induced oral mucositis.”

The GI Company’s lead Phase II clinical candidate, Intestinal Trefoil

Factor (ITF), is an endogenous protein in development for the treatment of

oral mucositis, a common, debilitating complication resulting from

high-dose chemotherapy and / or radiotherapy. The GI Company has retained

Burrill & Company to assist in the selection of a transaction partner for

its clinical programs.

About Intestinal Trefoil Factor

Intestinal Trefoil Factor is an endogenous protein found primarily on

mucosal surfaces throughout the gastrointestinal tract, including the

mouth, esophagus and intestines, as well as in other tissues such as the

eye and lungs. The protein is known to promote mucosal restitution and

repair and is therefore being developed as a therapeutic. ITF mucositis

therapy is designed to alleviate damage to the soft tissues of the oral

cavity by providing ITF to the cells of the mouth and throat using a

proprietary buccal (oral) delivery system. This therapeutic target is

backed by proven biology and compelling efficacy data on ITF in numerous in

vivo models of mucosal damage.

About Oral Mucositis

Oral mucositis, also called stomatitis, is a common, serious complication

resulting from high-dose chemotherapy and / or radiotherapy. These

cytotoxic therapies are used to kill cancer cells, but they also

indiscriminately kill other fast-growing cells such as those lining the

inside of the mouth and throat. Oral mucositis is an inflammation of the

mucosa of the mouth which ranges from redness to severe ulcerations on the

inner cheek, tongue and lips. These debilitating oral sores further

diminish quality of life by preventing patients from eating, drinking, or

talking for weeks at a time. These conditions can reappear after every

course of treatment. In addition to extremely painful open oral sores,

patients with oral mucositis typically have diminished immunity resulting

from chemotherapy and / or radiotherapy and are prone to serious

life-threatening opportunistic infections. Currently, there is no

effective treatment approved to prevent oral mucositis or shorten its

duration. This condition can affect as many as 80 percent of bone marrow /

blood stem cell transplant patients and 40 percent of chemotherapy /

radiotherapy patients. This market represents a $1B annual market

opportunity in the U.S. alone.

About MASCC

The Multinational Association of Supportive Care in Cancer (MASCC) is an

international, multidisciplinary organization with members representing

over sixty (60) countries and five continents. Founded in 1990, MASCC is

dedicated to research and education in all aspects of supportive care for

patients with cancer, regardless of the stage of their disease. In 1998

MASCC joined forces with the International Society of Oral Oncology (ISOO),

an organization that addresses the management of complications arising in

oral tissues secondary to cancer and its treatment. For more information,

please visit http://www.mascc.org/.

About The GI Company, Inc.

The GI Company is a clinical-stage biotechnology company highly specialized

at developing drugs to treat gastrointestinal and related diseases. The

company’s lead clinical candidate is Intestinal Trefoil Factor (ITF) which

is being developed for the treatment of oral mucositis. The GI Company

also has pre-clinical development projects in enteritis / proctitis,

inflammatory bowel disease, erosive gastroesophageal reflux disease, peptic

ulcer disease and gastrointestinal motility disorders, as well as clinical

programs in erosive gastritis (NSAID induced), ulcerative colitis and

corneal wound healing. The company is funded through a private equity

financing consortium and has raised over $20M to date. For more

information, please visit www.thegicompany.com.

Contact: Tim Allison LaVoie Group 978.745.4200 x 102