EXTEN INDUSTRIES INC.
Company Report
(10/14/02)

Exten Industries, Inc. (OTCBB: EXTI / bid $0.045 – ask $0.07) has the foremost liver cell technology in the World. The Company’s proprietary liver cell technology provides a platform for the development and marketing of four distinct product lines: hepatocyte test kits for the drug discovery market, therapeutic proteins, liver assist devices, and stem cells.

WHY YOU SHOULD CONSIDER EXTI:

1. The proprietary and patented products will benefit mankind by treating liver disease, hepatitis and other major medical conditions. The liver is the only organ for which there is no medical substitute. The success of any one product should generate significant revenues and firmly establish Exten as a market leader in the field of liver technology.

2. The stock has a current market cap of approximately $6 million. This appears to be significantly undervalued based upon the market potential for each of the Company’s four products, the fact that its products are beginning to generate cash flow, and that it has a contract/license agreement with Pfizer.

3. Pfizer and several other major pharmaceutical companies are placing initial orders for the Company’s products. To date, Pfizer has contracted in excess of $724,000 in the form of joint research and is negotiating for a license to utilize the Company’s liver cells.

4. EXTI and its products have a high potential for joint ventures and/or licensing.

5. Management is investing heavily, having funded over $1,300,000 in the last 12 months.

6. The company boasts a staff of top-notch scientists that includes affiliations with Brown and Loyola Universities.

The Markets

$3.7 BILLION worldwide market for drug discovery and pharmaceutical toxicology tests.
$43 BILLION worldwide market for therapeutic proteins by 2004.
$78 BILLION worldwide market for liver stem cell transplantation by 2010.
$2 BILLION worldwide market addressed by the Sybiol® artificial liver device system.

Exten Industries Overview http://www.exten.com

Exten Industries, Inc. (OTCBB-EXTI) is a San Diego based medical products Company established in 1970. The Company, through its subsidiaries MultiCell Technologies and Xenogenics, is dedicated to improving the quality of life for patients by providing solutions to the medical community for some of its most pressing needs. These include better treatment options for chronic liver disease, liver failure, and cirrhosis of the liver as well as better research tools for the pharmaceutical industry. The Company’s immortalized liver cells produce complex therapeutic proteins. Proteins have been developed for chronic and acute therapies to replace proteins that are manufactured at levels insufficient to sustain health, or in some instances not being manufactured by the body at all. The Company’s natural proteins will offer significant advantages over existing sources. Stem cells are also being researched as a potential for regeneration of liver tissue. The company believes its patented and proprietary technologies strongly position it for market success.

Exten Industries Inc. (OTCBB:EXTI)
                                      FY-01            FY-02                       FY-03
Revenue                           $113,327        $1,510,334                $11,308,333
Earnings per share (diluted) ($0.016)         ($0.032)                    $0.026

52 Week Range                  $.035 - $.23    Fiscal Year End          November 30
Shares Outstanding             99,325,310     Approximate Float       60,000,000
Shareholders                      6000+            Market Cap               $6,000,000

MultiCell Technologies http://www.multicelltechnologies.com

MultiCell Technologies, Inc. (“MCT”) is dedicated to the development and commercialization of hepatic (liver) cells and cell lines for use in diagnostic and therapeutic products. Although, the company has been focused on the creation of functional hepatocyte (liver) cell lines for use in liver assist devices (LAD’s), its technology and cell lines will also be developed into pipeline products enabling cell transplantation, protein development, and novel drug screening and toxicological assays for the pharmaceutical industry. It is worth noting that a unique feature of MCT’s technology is the opportunity to simultaneously market the same immortalized cell lines for multiple commercial and clinical applications. The acquisition of MultiCell is brilliant because it transitions Exten from a Research Company to a viable revenue producing Company while continuing the development of the Sybiol liver assist device. MultiCell had revenues in year 2000 of $1,051,919, up from revenues of $505,886 in 1999. This represents a 100% growth rate. The Company was profitable in the year 2000 showing a net income of $3,469. 2001 was a year dedicated to research, with revenues of $113,327. 2002 revenues are anticipated to exceed $1,500,000 (a 50% growth rate from year 2000.) It is also nearly debt free only showing a note payable in the amount of $125,000 on the balance sheet.

On November 1, 2001, “the Company entered into a research contract with Pfizer Inc. to test their library of hepatocyte cell lines, in the amount of $724,500, which is received throughout the contract period, ending October 31, 2002."

An exciting and lucrative market awaits MultiCell as it intends to supply its line of proprietary human liver cells to pharmaceutical companies for toxicology testing. MultiCell believes that it can save these companies millions of dollars spent on developmental drugs by providing cells which can better predict the drug’s interaction with the liver in its early stages of development. Currently these companies spend over $500 million for liver cells derived from rats and unused transplant organs that often produce inconsistent results during early testing.

Xenogenics Corporation

Xenogenics Corporation, is a developmental stage enterprise that owns all of the rights to the Sybiol® Bio-Artificial Liver system for which a patent is pending in 15 countries, including the United States. The underlying concept is that the artificial liver can act as a substitute for a patient allowing their own liver to heal from injury or disease. The device may also be used as a “bridging” apparatus for transplant patients awaiting a donor organ or to assist and improve the quality of life for patients with chronic liver disease or episodic liver trauma. In cooperation with MultiCell, the Company has developed a new design for this device. The company anticipates completing the pre-clinical work so as to be able to initiate Phase I of the FDA approval process trials before the end of 2003.

Sybiol Liver Assist Device
The liver is the only organ in the human body that has the capability to regenerate itself. The basis for the system’s therapeutic potential for helping so many individuals is that it could act as a “substitute liver” while the patient’s liver heals and/or rejuvenates.

There are approximately 100 varieties of liver disease including alcoholic liver disease, cirrhosis, liver cancer (the number one cancer worldwide), autoimmune hepatitis and Hepatitis A through G plus many others. Alcoholism is the most common cause of cirrhosis or liver scarring. Three in 1,000 people will be subject to alcoholic liver disease. Worldwide, over 600,000 serious new cases are diagnosed each year. Liver disease from excessive drinking is the 4th leading cause of death for urban males in this country.

Hepatitis is now being considered an epidemic with 250,000 people becoming infected each year in the US alone. It is expected to severely strain our medical system and overtake AIDS as a cause of death by 2010. Hepatitis B virus (HBV) is estimated to have 1.2 million carriers in the US. In Asia, hundreds of millions may be affected. About 2% of these cases will result in fulminant (acute) hepatic failure for which liver transplantation has thus far been the only viable option. Hepatitis C virus (HCV) currently affects about 4.0 million people in the US, which is about 1.8% of the population. It’s estimated that about 20% of those affected, or about 10,000 Americans, die each year from complications of HCV alone. It is the leading indication for liver transplantation in the US. The potential market for artificial liver support is expected to be well in excess of $100 million dollars annually.

The Company’s inventive proprietary Sybiol technology is intended to operate outside of the human body (ex vivo or extra corporeally) where it will perform some of the complex and vital functions of the human liver. The physical connection to the patient is similar to that done in renal dialysis.

History

Exten Industries Inc. was incorporated in Delaware on April 28, 1970 under the name of “Exten Ventures, Inc”. Xenogenics was incorporated in February 1997 to focus on the research and development of SYBIOL® technology. In September 2001, the Company purchased MultiCell Technologies, Inc. (MultiCell), which was previously named MultiCell Associates, Inc.

Contact Information
Exten Industries Websites:
425 W. Fifth Avenue, #210 http://www.exten.com
Escondido, California 92025 http://www.multicelltechnologies.com
760-781-3916 (phone) 760-781-3919 (fax)
info@exten.com

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This publication is an advertisement on behalf of the issuing Company mentioned in this advertisement and may not be construed as investment advice. This advertisement does not provide an analysis of the Company’s complete financial position and is not a solicitation to purchase or sell securities. This publication may contain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the Company’s Marketing materials and filing documents. Readers should consult with their own independent tax, business and financial advisors with respect to any investment, including any contemplated investment in the advertised Company. All information contained in this advertisement should be independently verified with the advertised Company and an independent securities analyst. The Publisher, its affiliates, officers, directors, subsidiaries and agents (collectively, the “publisher” of this advertisement) have been compensated 250,000 shares of Exten common stock restricted under rule 144 for their services. In preparing this advertisement, the Publisher has relied upon information received from the Company, although believed to be reliable, cannot be guaranteed. This advertisement is not an endorsement of the Company by the Publisher. The Publisher is not responsible for any claims made by the Company. Investing in low priced securities, such as those of the Company mentioned in this report, is not suitable for everyone. You should independently investigate and fully understand all risks.