(1) We were expecting product on the shelves this spring and it was unfortunate about the whole fiasco around the DIN. I understand we may be looking at the fall now although there are contracts either in the making with retail distribution channels or in place. Is there any truth to this? Investor confidence is a little shaky right now.

TO: Admittedly, the branding process is taking longer than originally planned but we feel that the results will be better. I will never again comment on when things may happen as there are too many variables and unknowns. ALDA has an agreement with Group 270 to introduce the retail products to the chain stores, our current distributors want the products and we will be seeking other distributors once the product is ready.

There was no DIN "fiasco". In the letter to shareholders of June 2, I explained what happened. The product was not eligible for the Category IV Monograph approval and it went into the regular stream. When it is granted, the claims will be broader than is allowed under the Cat IV Monograph. Again, the delay may be to our long term benefit.

(2) With the Olympics just around the corner, it is hard to believe Alda will have any significant involvement here. China tried to hide the first outbreak of SARS that resulted in 8000 infections around the world. One would think with the Olympics around the corner, the WHO would be pushing China for better control over potential outbreaks (of any sort) and that Alda might be a part of this.

TO: We never claimed that we would have any significant involvement in the Olympics. We said that we wanted manufacturing and sales to start in China before the Olympics started so that is would attain some level of exposure. That goal has been accomplished. Really, who (no pun intended) can push China to do anything?

(3) I know news cannot be manufactured, but didn’t Dr. Owens suggest a news release a week to keep the momentum of the company going?

TO: I never suggested that and it would be foolish of me to do so, if not illegal. The bull boards certainly built up expectations for news releases every Thursday, a news release every week, etc. Then when we released news on the positive results from the clinical trials, we were accused of releasing “fluff”, stalling, etc. We are damned if we do release news and damned if we don’t. Our commitment is to release news when it happens and when there is no news, there is no news. In the meantime, as the letter to shareholders of June 2 explains, we are working on advancing all of our initiatives including the US listing, the re-branding, the new commercial product, the pre-IND meeting with the FDA, applications to Health Canada and the EU for human trials and a number of other projects. There will be news but I can’t say when.

(4) Concerning a U.S. listing (OTCBB), many a company on the Toronto exchanges have gone onto stardom without a listing on the U.S. exchanges. The is talk of a new market and larger market of potential investors but with the right promotion, this should not be a necessity. I am not suggesting Dr. Owens should be another Richard Nemis (NOT.v) but If there is value behind the company, enough interest should be generated locally to at least keep the stock propped up.

TO: If we talk to 6 people, we get 6 different opinions on a US listing. Again, we are damned if we do and damned if we don’t. We are proceeding because we are aiming to have a US market for our products eventually and we have a US following now. We are aware of the pros and cons and the pros outweigh the cons, in our opinion.

(5) One other question, with the ‘delinquent filer’ summons, is there blackout being enforced by the exchange for any news releases?

TO: No. The BCSC makes it seem like we missed our filings which is not the case. They reviewed our filings because we have had a lot of news releases and the share price increased. They decided, subjectively, that we needed to revise and expand our disclosure even though our advisors are of the opinion that our disclosure is very comprehensive. We are doing so. We issued a clarifying news release earlier this week. It happens to nearly every company at some time.

Your comments would be appreciated.

TO: I hope these have been informative, if not helpful.

Regards,

Terrance G. Owen, Ph.D., M.B.A.

President & CEO

ALDA Pharmaceuticals Corp. (APH:TSX-V)

635 Columbia Street

New Westminster, BC V3M 1A7

604-521-8300 Ext. 1 Phone

604-521-8322 Fax

604-862-3439 Cell

1-866-521-ALDA (2532)