Vasogen Inc.

Contact:
Glenn Neumann, Investor Relations
2505 Meadowvale Blvd
Mississauga, ON, Canada L5N 5S2
tel: (905) 817-2004  fax: (905) 569-9231
www.vasogen.com / investor@vasogen.com

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FOR IMMEDIATE RELEASE

                  Vasogen to Conduct Quarterly Conference Call


Mississauga, Ontario (October 5, 2006) -- Vasogen Inc. (NASDAQ:VSGN; TSX:VAS), a
leader in the research and commercial development of technologies targeting the
chronic inflammation underlying cardiovascular and neurological disease, will
release its quarterly results after the close of the North American financial
markets on Thursday, October 12, 2006. A conference call and audio web cast will
also be conducted on Thursday, October 12, 2006, at 4:30 p.m. Eastern Time,
during which management will provide a Company update and discuss third quarter
results.

Participants are invited to attend by connecting 10 minutes prior to the call to
one of the following:

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            Audio Web Cast                        www.vasogen.com
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            Direct Dial                              416-695-6130
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            Toll-free                              1-800-766-6630
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A re-broadcast of the conference call may be accessed by:


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            Audio Web Cast                        www.vasogen.com
            -----------------------------------------------------
            Direct Dial                              416-641-2135
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            Toll-free                              1-800-293-6441
                                                   Pin code: 2017
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                                     -more-

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                                                      ...page 2, October 5, 2006


About Vasogen

Vasogen is focused on the research and commercial development of technologies
targeting the chronic inflammation underlying cardiovascular and neurological
disease. Vasogen's Celacade technology is in late-stage development for the
treatment of chronic heart failure. The recently completed phase III ACCLAIM
trial assessed the impact of Celacade on reducing the risk of mortality and
morbidity in patients with Class II-IV systolic heart failure. Vasogen is also
developing a new class of drugs for the treatment of neuro-inflammatory and
neuro-vascular disorders. VP025, which is entering phase II clinical
development, is the lead product candidate from this new class of drugs.


Certain statements  contained in this press release and upcoming conference call
constitute "forward-looking  statements" within the meaning of the United States
Private Securities  Litigation Reform Act of 1995. These statements may include,
without limitation,  summary statements relating to results of the ACCLAIM trial
in patients  with chronic heart  failure,  plans to advance the  development  of
Celacade,  statements concerning our partnering activities and health regulatory
submission,  strategy,  future  operations,  future financial  position,  future
revenues,  projected costs,  prospects,  plans and objectives of management.  In
some cases, you can identify  forward-looking  statements by terminology such as
"may",  "will",  "should",   "expects",  "plans",   "anticipates",   "believes",
"estimated",  "predicts",  "potential",  "continue",  "intends", "could", or the
negative of such terms or other comparable terminology.  A number of assumptions
were  made  by  us in  the  preparation  of  these  forward-looking  statements,
including  assumptions  about the nature,  size, and accessibility of the market
for Celacade in the treatment of chronic heart failure,  particularly in Europe,
the  regulatory   approval   process  leading  to   commercialization   and  the
availability  of  capital  on  acceptable  terms to pursue  the  development  of
Celacade. You should not place undue reliance on our forward-looking  statements
which are subject to a  multitude  of risks and  uncertainties  that could cause
actual results,  future  circumstances or events to differ materially from those
projected in the forward-looking  statements.  These risks include,  but are not
limited to, the outcome of further  analysis of the ACCLAIM trial  results,  the
requirement  or  election  to  conduct  additional  clinical  trials,  delays or
setbacks in the regulatory approval process,  securing and maintaining corporate
alliances,  the need for  additional  capital  and the effect of capital  market
conditions  and other factors on capital  availability,  the potential  dilutive
effects of any financing,  including the convertible  notes we issued in October
2005,  risks  associated  with  the  outcome  of our  research  and  development
programs, the adequacy, timing and results of our clinical trials,  competition,
market acceptance of our products,  the availability of government and insurance
reimbursements for our products, the strength of intellectual property, reliance
on  subcontractors  and  key  personnel,  losses  due  to  fluctuations  in  the
U.S.-Canadian  exchange  rate, and other risks detailed from time to time in our
public  disclosure  documents  or  other  filings  with  the  Canadian  and U.S.
securities  commissions or other securities regulatory bodies.  Additional risks
and  uncertainties  relating to our Company and our business can be found in the
"Risk Factors" section of our Annual Information Form and Form 40-F for the year
ended  November  30,  2005,  as  well  as  in  our  later  public  filings.  The
forward-looking  statements are made as of the date hereof,  and we disclaim any
intention and have no obligation or  responsibility,  except as required by law,
to update or revise any forward-looking  statements,  whether as a result of new
information,  future events or otherwise. Unless otherwise indicated,  numerical
values indicating the statistical significance  ("p-values") of results included
in this  document  are  based  on  analyses  that do not  account  for  endpoint
multiplicity.

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