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IGI Laboratories And NeoStrata Company, Inc. Extend Turnkey Supply Agreement

IGI Laboratories, Inc. (NYSE Amex: IG), a New Jersey based formulation and manufacturing company, and NeoStrata Company, Inc., ( www.neostrata.com) headquartered in Princeton, NJ, announced a three-year extension to their Turnkey Manufacturing Services agreement. Under the terms of the extension, IGI Laboratories, Inc. (IGI) will continue supplying NeoStrata Company, Inc. (NeoStrata) with fully-packaged, market-ready skin care products that will be available worldwide through consumer outlets, physicians’ offices and spas.

“Our partnership with NeoStrata continues to flourish,” commented IGI President and CEO Charlie Moore “We are pleased to secure this relationship for the next three years. We are committed to supporting NeoStrata as a consistent, reliable, supplier of quality products and services.”

Hany Salama, NeoStrata’s Vice President of Operations, stated “this extension of our partnership is a result of our ever growing strategic relationship with IGI as a key provider of NeoStrata’s core product line. IGI’s excellence in supply and quality management makes them a compatible partner for our long-term sustainability and growth,” said Salama. “Over the past few years, IGI has invested in their personnel and their operations, which have been integral to our expansion initiatives,” he noted. “IGI’s knowledgeable team is always developing innovative methods to support our business needs and we are pleased to leverage this expertise by continuing our partnership with them.”

About IGI Laboratories, Inc.

IGI Laboratories is focused in the development and commercialization of products for the dermatology market. IGI’s vision is to become a leading player in the field of dermatology, with a significant presence in the pharmaceutical, OTC and cosmetic skin care markets.

IGI Laboratories, Inc. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions, and other statements contained in this press release that are not historical facts and statements identified by words such as " will," "possible," "one time," "provides an opportunity," "continue" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in IGI Laboratories, Inc.’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors or IGI Laboratories, Inc.’s ability to implement business strategies. IGI Laboratories, Inc. does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

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