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 Appoints Terry H. Gregg President & CEO

Mississauga, Ontario (March 7, 2007) -- Vasogen Inc. (NASDAQ:VSGN; TSX:VAS), a
biotechnology Company focused on the research and commercial development of
technologies targeting the chronic inflammation underlying cardiovascular and
neurological disease, is pleased to announce that Terrance H. Gregg has
succeeded David G. Elsley as President and Chief Executive Officer of Vasogen.
Mr. Gregg joined Vasogen's Board of Directors in 1999, was appointed Vice
Chairman in November 2005, and became Chairman of the Board in March 2006. David
Elsley, who founded Vasogen, will remain a member of Vasogen's Board of
Directors and Mr. Gregg will retain his position as Chairman.

In 1996, Mr. Gregg became President and Chief Operating Officer of MiniMed Inc.,
now a world leader in insulin pump therapy and continuous glucose monitoring,
and was instrumental in Medtronic's US$3.4 billion acquisition of the company in
2001. Mr. Gregg retired as President of Medtronic MiniMed in 2002. He also
served in executive positions with Smith & Nephew plc, a diversified healthcare
product company, and Allergan, Inc., a leading ophthalmic device and
pharmaceutical company. He is currently a Special Venture Partner with Galen
Associates, a private equity firm specializing in the healthcare sector, serves
on the boards of DexCom, Inc. and LMS Medical Systems, Inc., and is Executive
Chairman of Patton Medical Devices, LC. Mr. Gregg also served on the Boards of
Amylin Pharmaceuticals, Inc. and Ocular Sciences, Inc., which was purchased by
The Cooper Companies, Inc. for US$1.2 billion last year.

"Vasogen has an exciting future and I am pleased to assume the role of President
and CEO of a company with a solid scientific team and experienced management who
are committed to achieving success," stated Terrance Gregg. "As a founder of
Vasogen, David Elsley has provided visionary leadership since the Company's
inception and has positioned us well for the future. I look forward to working
with David as we transition from a development-stage company to a successful
commercial enterprise."

"Terry Gregg's vision and his experience in transforming MiniMed from a
development-stage therapeutic device company to a global leader in diabetes
management systems will prove invaluable as we prepare for the commercialization
phase of Vasogen's Celacade technology," stated David Elsley. "I am confident
that the key findings from our ACCLAIM trial provide a strong foundation to move
to the next level of Vasogen's evolution and I look forward to my continued
involvement as an active member of the Board."

The 2,408-patient phase III ACCLAIM trial of Vasogen's Celacade(TM) technology
(Celacade) in patients with chronic heart failure, completed in 2006,
demonstrated strong results in two important pre-defined patient subgroups.
While the study did not meet its primary endpoint, Celacade was shown to
significantly reduce the risk of death or first cardiovascular hospitalization
by 39% in patients with NYHA Class II heart failure at baseline (n=689,
p=0.0003), and by 26% in patients with no prior history of heart attack at
baseline (n=919, p=0.02). The Company is currently pursuing partnering
discussions to support the initial commercialization of Celacade in Europe on
the basis of these results. The Company is also preparing to meet with the FDA
to review the ACCLAIM results for the purpose of determining the next steps in
the regulatory pathway for Celacade in the United States.

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                                                        ...page 2, March 7, 2007


About Vasogen:
Vasogen is a biotechnology company engaged in the research and development of
therapies that target the damaging inflammation associated with cardiovascular
and neurodegenerative disorders. The Company's lead product, the Celacade(TM)
technology, is designed to trigger the immune response to apoptosis -- an
important physiological process that regulates inflammation. Celacade(TM) is in
late-stage development for the treatment of chronic heart failure. The Company
is also developing VP025, an early-stage new drug candidate for the treatment of
certain neurodegenerative diseases.

Certain statements contained in this press release or elsewhere in our public
documents constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and/or
"forward-looking information" under the Securities Act (Ontario). 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(TM), plans to fund our current activities,
statements concerning our partnering activities and health regulatory
submissions, 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. We made a number of
assumptions 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, and the
feasibility of additional trials. 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, 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 20-F for the year ended November 30, 2006, 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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