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Marshall Edwards (MSH)

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Wednesday 24 July, 2002

Marshall Edwards

Re Agreement

Marshall Edwards, Inc.
24 July 2002

                              MARSHAL EDWARDS INC

                       THE ANTI-CANCER DRUG, PHENOXODIOL

Marshall Edwards Inc. (AIM:MSH) has signed a Materials Cooperative Research and
Development Agreement with the National Institute of Dental and Craniofacial
Research (NIDCR), an Agency of the National Institute of Health in the USA.

The NIDCR is actively involved in research on novel therapies to treat oral, as
well as head and neck, cancers.  The agreement with the NIDCR is part of an
international collaboration to further define the clinical applications of

Phenoxodiol is under development as a primary anti-cancer therapy for a broad
range of human cancers and is currently being tested in clinical trials in
patients with advance cancers in American and Australian hospitals.

Phenoxodiol is the first anti-cancer drug licensed by Marshall Edwards Inc. from
Novogen Limited.  This drug stems from the research program established by
Novogen that has identified a family of compounds with novel anti-cancer
actions.  Marshall Edwards Inc. has an option on all other Novogen anti-cancer

Dr. Graham Kelly, Chairman of Marshall Edwards Inc. said 'In addition to
phenoxodiol, Novogen has identified a number of similar compounds that are
showing selective activity against a number of common human cancers.

'The action of these drugs against targets so fundamental to cancer cell
survival suggests that they can kill cancer cells independent of the type of
mutation behind the cancer and independent of their development of resistance to
other drugs.'

Marshall Edwards Inc. (AIM:MSH) was listed on the London Stock Exchange's
Alternative Investment Market in May 2002.

For further information:

Professor Alan Husband, Group VP Research
Dr Graham Kelly, Chairman
Tel: + 61 2 8877 6196

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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