BEVERLY HILLS, Calif., Sept. 7 /PRNewswire-FirstCall/ -- OXIS INTERNATIONAL, INC. (OTC Bulletin Board: OXIS, Paris: OXI) and THE ESTEE LAUDER COMPANIES INC. (NYSE: EL) announce today that they have resolved a dispute between an Estee Lauder subsidiary, Applied Genetics Incorporated Dermatics ("AGI"), and Oxis over technology related to U.S. Patent No. 6,103,746 (the "746 Patent") and U.S. Patent No. 6,479,533 (the "533 Patent"), entitled "Methods and Compositions for the Protection of Mitochondria."  An agreement between the parties provides Oxis with full title to the '746 and '533 Patents in exchange for Estee Lauder receiving a non-exclusive license under the '746 and '533 Patents within the cosmetic market.  The material terms and conditions are to remain confidential pursuant to the agreement.

About OXIS International, Inc.

OXIS International, Inc. develops technologies and products to research, diagnose, treat and prevent diseases of oxidative stress/inflammation associated with damage from free radical and reactive oxygen species (ROS). The company holds the rights to several therapeutic classes of compounds in the area of oxidative stress, and has focused commercialization programs that include SOD (superoxide dismutase), MPO (myeloperoxidase), GPx (glutathione peroxidase), as well as a highly potent antioxidant, Ergothioneine, that may be sold over-the-counter (OTC) as a dietary supplement.  Ergothioneine can also be sold to the cosmetics markets as well as the functional food and beverage markets.

Forward-Looking Statement

This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission.

SOURCE OXIS International, Inc.