Oxis International, Inc. Receives Letter From Counsel to Senior Secured Creditor...

Oxis International, Inc. Receives Letter From Counsel to Senior Secured
Creditor Regarding Foreclosure Notice

NEW YORK, June 19 /PRNewswire/ -- Counsel to Bristol Investment Fund,
Ltd., a senior secured creditor of Oxis International, Inc. ("OXIS"), sent a
letter to OXIS on June 18, 2008, in response to the 8K filed by OXIS on June
17, 2008. The text of the letter is below.
June 18, 2008

Marvin Hausman
Oxis International Inc.
323 Vintage Park Drive, Suite B
Foster City, CA 94404

Re: Notice of Disposition of Collateral

Dear Mr. Hausman:

We are counsel for Bristol Investment Fund, Ltd. ("Bristol") the
collateral agent that delivered to you the above notice of disposition of
collateral. We are writing in response to your letter sent yesterday and
published by your company in its Form 8-K, filed with the SEC.
Please be advised that Bristol intends to proceed with the sale collateral
on Thursday morning, June 19, 2008. Your suggestion that Bristol is acting in
a precipitous fashion is truly astounding. Your company defaulted on the
notes held by Bristol and its fellow noteholders more than a year ago.
Bristol has been more than patient in affording your company an opportunity to
raise capital, sell assets or otherwise obtain funds to honor its debt
obligations. Instead, the officers and directors have devoted the company's
resources largely to advance personal goals at the expense of Bristol and
other noteholders. There is no reason for Bristol to delay pursuit of its
rights any longer.
Sincerely,

Thomas J. Fleming

cc: Paul Kessler
Amy Wang

SOURCE Bristol Investment Fund, Ltd.

Thomas J. Fleming, +1-212-451-2213, for Bristol Investment Fund, Ltd.