IGI ANNOUNCES POSITIVE RESULTS FROM VITAMIN C CLINICAL STUDY

Buena, NJ – March 23, 2006 – IGI, Inc. announces positive results from a clinical study evaluating their patented 10% Pure C Serum.

The 12 week clinical study was conducted by an independent testing lab.  The subjects topically applied the 10% Pure C Serum around the eye area to evaluate its potential for reducing the appearance of fine lines.  This patented formulation utilizes l-ascorbic acid, the pure form of Vitamin C.

Vitamin C is largely known for its antioxidant properties and has also been found to:

• Prevent premature signs of aging, including fine lines and wrinkles.
• Protect against future damage.
• Stimulate collagen production for firmer, more resilient skin.
• Lighten and brighten skin for more even tone.

The 10% Pure C Serum has proven to be chemically and physically stable; the product remains clear while it maintains its level of 10% l-ascorbic acid for 2 years. Results from the use of 10% Pure C Serum were as follows:

• 94% reported an improvement in fine lines
• 88% reported an improvement in skin firmness
• 88% reported a reduction in crow’s feet
• 80% reported an improvement in skin texture
• 58% reported an improvement in skin tone
• 87% reported an improvement in skin's overall appearance

Additional benefits acknowledged by subjects using the 10% Pure C Serum were:

• 61% reported a reduction in dark circles
• 58% reported a reduction in under eye puffiness
• 42% reported a reduction in age spots

10% Pure C Serum is part of a new, 10 product skin care line that will be marketed under the name MIAJ, which is set to launch in the second quarter 2006, the products will be made available through specialty stores and an online store at www.miaj.com.

IGI is a company committed to growth by applying proprietary technologies to achieve cost-effective solutions for varied customer needs. IGI offers the patented Novasome® lipid vesicle encapsulation technology which contributes value-added qualities to cosmetics, skin care products, dermatological formulations and other consumer products, providing improved dermal absorption, low potential for irritations, controlled and sustained release as well as improved stability. IGI has licensed Novasome® lipid vesicle encapsulation technology to leading global dermatological and skin care companies including Johnson & Johnson Consumer Products, Inc., Estee Lauder Companies, Chattem Inc., Genesis Pharmaceutical, Inc. and Apollo Pharmaceutical, Inc., and recently sub-licensed the rights to obtain FDA approval for and market IGI's PTH (1-34) compound using Novasome® lipid vesicle encapsulation technology for psoriasis, which is slated for Phase II clinical trials, to Manhattan Pharmaceuticals, Inc. IGI is also exploring the licensing of the topical PTH (7-34) compound for the prevention/treatment of chemotherapy induced-alopecia in patients undergoing chemotherapy.

This report contains forward-looking statements relating to IGI's hopes and expectations for the future. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "will," "possible," "one time," "provides an opportunity," "continue" and similar expressions are intended to identify forward-looking statements. Such statements involve a number of risks and uncertainties and actual future events and results could differ materially from those indicated by such forward-looking statements due to general economic conditions, and the risk factors detailed in IGI's periodic reports and registration statements filed with the Securities and Exchange Commission.

Contact:

     IGI, Inc.
     Frank Gerardi, 856-697-1441 ext. 102
     www.askigi.com