**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







***FOR
      IMMEDIATE RELEASE***










**Vasogen
      to Conduct Quarterly Conference Call**








**Mississauga,
      Ontario (July 6, 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 Wednesday, July 12, 2006. A conference call and audio web cast will
      be conducted on Wednesday, July 12, 2006 at 4:30 p.m. Eastern Time, during
      which
      management will provide a Company update on plans to advance the development
      of
      Celacade and discuss second quarter results.





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




Audio
                Web Cast*
            www.vasogen.comDirect
                Dial
            416-695-9753Toll-free
            1-888-789-0150






A
      re-broadcast of the conference call may be accessed by :





Audio
                Web Cast*
            www.vasogen.comDirect
                Dial
            416-695-6030Toll-free
            1-866-578-1010
              Pin
                code: 7109




*Windows
      Media Player required














**-more-**























**...page
      2, July 6, 2006**








**About
      Vasogen:**


Vasogen
      is focused on the research and commercial development of technologies targeting
      the chronic inflammation underlying cardiovascular and neurological disease.
      The
      Company’s lead product, the CelacadeTM technology, is being developed for the
      treatment of chronic heart failure. The recently completed international
      2,400-patient ACCLAIM trial assessed the impact of the Celacade technology
      on
      reducing mortality and morbidity in patients with advanced heart failure. Full
      results for the ACCLAIM study are scheduled to be presented at the World
      Congress of Cardiology 2006, being held from September 2 to 6 in Barcelona,
      Spain and at the 10th Annual Scientific Meeting of the Heart Failure Society
      of
      America being held in Seattle, Washington from September 10 to 13, 2006. 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 and
      web
      cast constitute “forward-looking statements” within the meaning of the United
      States Private Securities Litigation Reform Act of 1995. These statements
      include, without limitation, summary statements relating to results of the
      ACCLAIM trial in patients with chronic heart failure, statements on our future
      plans for Celacade and publication of results from the ACCLAIM trial,
      statements, concerning our partnering activities, strategy, future operations,
      future financial position, future revenues, projected costs, prospects, plans
      and objectives of management. Results disclosed are based on data analyzed
      to
      date and may not be confirmed upon full analysis of the detailed results of
      the
      ACCLAIM trial and additional information relating to safety and efficacy of
      Celacade may be discovered upon further analysis of trial data and upon further
      review and analysis of additional trial data. 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. 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, risks associated with the outcome of our research and
      development programs, the adequacy, timing and results of our clinical trials,
      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, the
      regulatory approval process, competition, securing and maintaining corporate
      alliances, 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 “Risks Factors” section of our Annual Information Form and Form
      40F 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. Numerical values indicating the
      statistical significance ("p-values") of results included in this press release
      are based on analyses that do not account for endpoint multiplicity, and
      therefore are for information only and are not intended to be used for any
      future regulatory submissions or in any future product labeling in jurisdictions
      where such uses are prohibited.*