SCOLR, Inc.  $10,400,000  Common Stocks and Warrants  February 2004

• SCOLR, Inc. is a biopharmaceutical company with proprietary, patented technologies and products operating in the drug delivery and nutraceuticals markets. After leading a successful offering of $5.3 million of convertible notes last year, Taglich was positioned to help Rodman & Renshaw execute this transaction of common stock with warrants. Together, these two offerings provide SCOLR with the necessary capital to fully develop and commercialize its Controlled Delivery Technology CDT™. Being able to help clients throughout their growth cycles, is just another example of our commitment and support.

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