Statement on Corporate Governance Practices

Vasogen Inc. (the Company) endorses the principle that our corporate governance practices (the Corporate Governance Practices) are a fundamental part of our proper functioning as a corporation. The Board believes that these Corporate Governance Practices enhance the interests of our security holders, employees and other stakeholders. Our Corporate Governance Practices conform in all substantial respects with applicable corporate governance guidelines and standards and take into account the United States Sarbanes Oxley Act of 2002, The Toronto Stock Exchange rules and the requirements of the Canadian Securities Administrators (CSA). The Company is in compliance with the CSA’s Multilateral Instrument 52-110 pertaining to audit committees and also with National Policy 58-201, Corporate Governance Guidelines, and National Instrument 58-101, Disclosure of Corporate Governance Practices.

For more detailed information, download Schedule D, Corporate Governance Guidelines, from the Company Management Proxy Circular dated February 15, 2008.

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For a complete discussion of Vasogen’s corporate governance practices, please refer to the Company’s Management Proxy Circular.