-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S8/iBw3GNpiqpKOHb29rpU6XylTZ1feOPAuHoa2A+9fzRnkjlJL5Z7qiAO7IquB5 /NwcCd5X4HujaOMFUNRfrA== 0000950123-03-001053.txt : 20030207 0000950123-03-001053.hdr.sgml : 20030207 20030207165748 ACCESSION NUMBER: 0000950123-03-001053 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030207 GROUP MEMBERS: BRUCE BERNSTEIN GROUP MEMBERS: OLIVIER MORALI GROUP MEMBERS: OMICRON CAPITAL INC GROUP MEMBERS: OMICRON CAPITAL LP GROUP MEMBERS: OSKAR P LEWNOWSKI GROUP MEMBERS: WINCHESTER GLOBAL TRUST COMPANY LIMITED FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: OMICRON MASTER TRUST CENTRAL INDEX KEY: 0001217111 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: WINCHESTER GLOBAL TRUST CO STREET 2: WILLIAMS HOUSE, 20 REID STREET CITY: HAMILTON STATE: A1 ZIP: 00000 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VALENTIS INC CENTRAL INDEX KEY: 0000932352 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 943156660 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-53479 FILM NUMBER: 03545254 BUSINESS ADDRESS: STREET 1: 863A MITTEN RD CITY: BURLINGAME STATE: CA ZIP: 94010 BUSINESS PHONE: 6506971900 MAIL ADDRESS: STREET 1: 863A MITTEN ROAD CITY: BURLINGAME STATE: CA ZIP: 94010 FORMER COMPANY: FORMER CONFORMED NAME: MEGABIOS CORP DATE OF NAME CHANGE: 19960716 SC 13G 1 y83332asc13g.txt SCHEDULE 13G SCHEDULE 13G CUSIP NO. 91913E302 PAGE 1 OF 16 PAGES UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. )* Valentis, Inc. (Name of Issuer) Common Stock, $.001 par value (Title of Class of Securities) 91913E302 (CUSIP Number) January 24, 2003 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SCHEDULE 13G CUSIP NO. 91913E302 PAGE 2 OF 16 PAGES - ------------------------------------------------------------------------- - 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Omicron Master Trust - - ------------------------------------------------------------------------- - 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ] (B)[ ] (See Item 6) - - ------------------------------------------------------------------------- - 3 SEC USE ONLY - - ------------------------------------------------------------------------- - 4 CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda - - ------------------------------------------------------------------------- - NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ---------------------------------------------------- - EACH 6 SHARED VOTING POWER REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) WITH: ---------------------------------------------------- - 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------- - 8 SHARED DISPOSITIVE POWER 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - - ------------------------------------------------------------------------- - 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.7% (See Item 4(a)) - - ------------------------------------------------------------------------- - 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - - ------------------------------------------------------------------------- - SCHEDULE 13G CUSIP NO. 91913E302 PAGE 3 OF 16 PAGES - - ------------------------------------------------------------------------- - 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Omicron Capital, L.P. 52-2057093 - - ------------------------------------------------------------------------- - 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ] (B)[ ] (See Item 6) - - ------------------------------------------------------------------------- - 3 SEC USE ONLY - - ------------------------------------------------------------------------- - 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - - ------------------------------------------------------------------------- - NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ---------------------------------------------------- - EACH 6 SHARED VOTING POWER REPORTING PERSON -0- WITH: ---------------------------------------------------- - 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------- - 8 SHARED DISPOSITIVE POWER 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - - ------------------------------------------------------------------------- - 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.7% (See Item 4(a)) - - ------------------------------------------------------------------------- - 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - - ------------------------------------------------------------------------- - SCHEDULE 13G CUSIP NO. 91913E302 PAGE 4 OF 16 PAGES - - ------------------------------------------------------------------------- - 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Omicron Capital, Inc. 52-2032702 - - ------------------------------------------------------------------------- - 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ] (B)[ ] - - ------------------------------------------------------------------------- - 3 SEC USE ONLY - - ------------------------------------------------------------------------- - 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - - ------------------------------------------------------------------------- - NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ---------------------------------------------------- - EACH 6 SHARED VOTING POWER REPORTING PERSON -0- WITH: ---------------------------------------------------- - 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------- - 8 SHARED DISPOSITIVE POWER 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [X] - - ------------------------------------------------------------------------- - 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.7% (See Item 4(a)) - - ------------------------------------------------------------------------- - 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - - ------------------------------------------------------------------------- - SCHEDULE 13G CUSIP NO. 91913E302 PAGE 5 OF 16 PAGES - - ------------------------------------------------------------------------- - 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Bruce Bernstein - - ------------------------------------------------------------------------- - 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ] (B)[ ] (See Item 6) - - ------------------------------------------------------------------------- - 3 SEC USE ONLY - - ------------------------------------------------------------------------- - 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - - ------------------------------------------------------------------------- - NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ---------------------------------------------------- - EACH 6 SHARED VOTING POWER REPORTING PERSON -0- WITH: ---------------------------------------------------- - 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------- - 8 SHARED DISPOSITIVE POWER 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - - ------------------------------------------------------------------------- - 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.7% (See Item 4(a)) - - ------------------------------------------------------------------------- - 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - - ------------------------------------------------------------------------- - SCHEDULE 13G CUSIP NO. 91913E302 PAGE 6 OF 16 PAGES - - ------------------------------------------------------------------------- - 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Olivier Morali - - ------------------------------------------------------------------------- - 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ] (B)[ ] (See Item 6) - - ------------------------------------------------------------------------- - 3 SEC USE ONLY - - ------------------------------------------------------------------------- - 4 CITIZENSHIP OR PLACE OF ORGANIZATION France - - ------------------------------------------------------------------------- - NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ---------------------------------------------------- - EACH 6 SHARED VOTING POWER REPORTING PERSON -0- WITH: ---------------------------------------------------- - 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------- - 8 SHARED DISPOSITIVE POWER 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - - ------------------------------------------------------------------------- - 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.7% (See Item 4(a)) - - ------------------------------------------------------------------------- - 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - - ------------------------------------------------------------------------- - SCHEDULE 13G CUSIP NO. 91913E302 PAGE 7 OF 16 PAGES - - ------------------------------------------------------------------------- - 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Winchester Global Trust Company Limited - - ------------------------------------------------------------------------- - 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ] (B)[ ] (See Item 6) - - ------------------------------------------------------------------------- - 3 SEC USE ONLY - - ------------------------------------------------------------------------- - 4 CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda - - ------------------------------------------------------------------------- - NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ---------------------------------------------------- - EACH 6 SHARED VOTING POWER REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) WITH: ---------------------------------------------------- - 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------- - 8 SHARED DISPOSITIVE POWER 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - - ------------------------------------------------------------------------- - 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.7% (See Item 4(a)) - - ------------------------------------------------------------------------- - 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - - ------------------------------------------------------------------------- - SCHEDULE 13G CUSIP NO. 91913E302 PAGE 8 OF 16 PAGES - - ------------------------------------------------------------------------- - 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) Oskar P. Lewnowski - - ------------------------------------------------------------------------- - 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A)[ ] (B)[ ] (See Item 6) - - ------------------------------------------------------------------------- - 3 SEC USE ONLY - - ------------------------------------------------------------------------- - 4 CITIZENSHIP OR PLACE OF ORGANIZATION Austria - - ------------------------------------------------------------------------- - NUMBER OF 5 SOLE VOTING POWER SHARES BENEFICIALLY -0- OWNED BY ---------------------------------------------------- - EACH 6 SHARED VOTING POWER REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) WITH: ---------------------------------------------------- - 7 SOLE DISPOSITIVE POWER -0- ---------------------------------------------------- - 8 SHARED DISPOSITIVE POWER 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 708,227 shares of Common Stock (See Item 4(a)) - - ------------------------------------------------------------------------- - 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - - ------------------------------------------------------------------------- - 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.7% (See Item 4(a)) - - ------------------------------------------------------------------------- - 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - - ------------------------------------------------------------------------- - SCHEDULE 13G CUSIP NO. 91913E302 PAGE 9 OF 16 PAGES Item 1(a). Name of Issuer: Valentis, Inc. (the "Issuer") Item 1(b). Address of Issuer's Principal Executive Offices: 863A Mitten Road Burlington, California 94010 Item 2(a). Names of Persons Filing: Omicron Master Trust ("Omicron Trust") Omicron Capital, L.P. ("Omicron Capital") Omicron Capital, Inc. ("OCI") Bruce Bernstein ("Bernstein") Olivier Morali ("Morali") Winchester Global Trust Company Limited ("WGTCL") Oskar P. Lewnowski ("Lewnowski") Item 2(b). Address of Principal Business Office: Omicron Trust - c/o Olympia Capital International Inc., Williams House, 20 Reid Street, Hamilton HM11, Bermuda Omicron Capital - 153 E. 53rd Street, 48th Floor, New York, New York 10022 OCI - 153 E. 53rd Street, 48th Floor, New York, New York 10022 Bernstein - 153 E. 53rd Street, 48th Floor, New York, New York 10022 Morali - 153 E. 53rd Street, 48th Floor, New York, New York 10022 WGTCL - c/o Winchester Fiduciary Limited, Williams House, 20 Reid Street, Hamilton HM11, Bermuda Lewnowski - c/o Winchester Fiduciary Limited, Williams House, 20 Reid Street, Hamilton HM11, Bermuda Item 2(c). Place of Organization or Citizenship: Omicron Trust - Bermuda Omicron Capital - Delaware OCI - Delaware Bernstein - United States of America Morali - France WGTCL - Bermuda Lewnowski - Austria Item 2(d). Title of Class of Securities: Common Stock, $.001 par value per share of the Issuer (the "Common Stock") Item 2(e). CUSIP Number: 91913E302 Item 3. This Schedule is filed pursuant to Rule 13d-1(c) by Omicron Trust, Omicron Capital, OCI, Bernstein, Morali, SCHEDULE 13G CUSIP NO. 91913E302 PAGE 10 OF 16 PAGES WGTCL and Lewnowski. Item 4. Ownership: (a) Amount Beneficially Owned: Omicron Trust: 708,227 shares* Omicron Capital: 708,227 shares* OCI: 708,227 shares* Morali: 708,227 shares* Bernstein: 708,227 shares WGTCL: 708,227 shares* Lewnowksi: 708,227 shares* (b) Percent of Class: Omicron Partners: 12.7% Omicron Capital: 12.7% OCI: 12.7% Bernstein: 12.7% Morali: 12.7% WGTCL: 12.7% Lewnowski: 12.7% (Using as outstanding 5,555,421 shares of Common Stock, based on 36,903,580 shares of Common Stock outstanding as of December 12, 2002, as stated in the Issuer's Proxy Statement, dated December 12, 2002, the issuance of an additional 129,759,051 shares of Common Stock as reported in the Issuer's Current Report on Form 8-K, dated January 27, 2003 and the 1-for-30 reverse stock split, as reported in such Form 8-K, and without taking into account any Rounding of shares in lieu of issuance of fractional shares.) (c) Number of Shares as to which the Person has: Omicron Trust, WGTCL and Lewnowski: ----------------------------------- (i) sole power to vote or to direct the vote -0- (ii) shared power to vote or to direct the vote: 708,227 shares of Common Stock* (iii) sole power to dispose or to direct the disposition of -0- (iv) shared power to dispose or to direct the disposition of 708,227 shares of Common Stock* SCHEDULE 13G CUSIP NO. 91913E302 PAGE 11 OF 16 PAGES Omicron Capital, OCI, Bernstein and Morali: ------------------------------------------ (i) sole power to vote or to direct the vote -0- (ii) shared power to vote or to direct the vote: -0- (iii) sole power to dispose or to direct the disposition of -0- (iv) shared power to dispose or to direct the disposition of 708,227 shares of Common Stock* *Omicron Capital serves as investment manager to Omicron Trust. By reason of such relationship, Omicron Capital may be deemed to share dispositive power over the shares of Common Stock owned by Omicron Trust. Omicron Capital disclaims beneficial ownership of the shares of Common Stock listed as beneficially owned by Omicron Trust or any other person reporting on this Schedule. OCI serves as general partner of Omicron Capital. By reason of such relationship, OCI may be deemed to share dispositive power over the shares of Common Stock listed as beneficially owned by Omicron Capital. OCI disclaims beneficial ownership of the shares of Common Stock listed as beneficially owned by Omicron Capital or any other person reporting on this Schedule. Morali serves as president and a director and is a stockholder of OCI. By reason of such relationships, Morali may be deemed to share dispositive power over the shares of Common Stock listed as beneficially owned by OCI. Morali disclaims beneficial ownership of the shares of Common Stock listed as beneficially owned by OCI or any other person reporting on this Schedule. Bernstein serves as an officer of OCI and has agreed to purchase shares of OCI. By reason of such relationships, Bernstein may be deemed to share dispositive power over the shares of Common Stock listed as beneficially owned by OCI. Bernstein disclaims beneficial ownership of the shares of Common Stock listed as beneficially owned by OCI or any other person reporting on this Schedule. WGTCL serves as trustee of Omicron Trust. By reason of such relationship, WGTCL may be deemed to shares voting and dispositive power over the shares of Common Stock listed as beneficially owned by Omicron Trust. WGTCL disclaims beneficial ownership of the shares of Common Stock listed as beneficially owned by Omicron Trust or any other person reporting on this Schedule. WGTCL may be deemed to be controlled by Lewnowski. By reason of such control, Lewnowski may be deemed to share voting and dispositive power over the shares of Common Stock listed as beneficially owned by WGTCL. Lewnowski disclaims SCHEDULE 13G CUSIP NO. 91913E302 PAGE 12 OF 16 PAGES beneficial ownership of the shares of Common Stock listed as beneficially owned by WGTCL. Of the shares of Common Stock reported as beneficially owned, 5,962 shares are shares that Omicron Trust has the right to acquire upon exercise of warrants to purchase Common Stock held by Omicron Trust. Omicron Capital, OCI, Bernstein, Morali, WGTCL and Lewnowski each disclaims beneficial ownership of such shares of Common Stock. Item 5. Ownership of Five Percent or Less of a Class: Not applicable Item 6. Ownership of More Than Five Percent on Behalf of Another Person: Not applicable Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company: Not applicable Item 8. Identification and Classification of Members of the Group: Not applicable Item 9. Notice of Dissolution of Group: Not applicable Item 10. Certification: By signing below I certify that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Exhibits: Exhibit I: Joint Filing Agreement, dated as of February 7, 2003, by and among Omicron Trust, Omicron Capital, OCI, Bernstein, Morali, WGTCL and Lewnowski. SCHEDULE 13G CUSIP NO. 91913E302 PAGE 13 OF 16 PAGES SIGNATURE By signing below each signatory certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Date: February 7, 2003 OMICRON MASTER TRUST By: OMICRON CAPITAL, L.P., Investment Manager By: OMICRON CAPITAL, INC., General Partner By: /s/ Olivier Morali ---------------------------- Olivier Morali Title: President OMICRON CAPITAL, L.P. By: OMICRON CAPITAL, INC., General Partner By: /s/ Olivier Morali ---------------------------- Olivier Morali Title: President OMICRON CAPITAL, INC. By: /s/ Olivier Morali ---------------------------- Olivier Morali Title: President /s/ Bruce Bernstein ---------------------------- Bruce Bernstein SCHEDULE 13G CUSIP NO. 91913E302 PAGE 14 OF 16 PAGES /s/ Olivier Morali ---------------------------- Olivier Morali WINCHESTER GLOBAL TRUST COMPANY LIMITED By: /s/ Oskar P. Lewnowksi ---------------------------- Oskar P. Lewnowski Title: Chairman /s/ Oskar P. Lewnowksi ---------------------------- Oskar P. Lewnowski SCHEDULE 13G CUSIP NO. 91913E302 PAGE 15 OF 16 PAGES Exhibit I JOINT FILING AGREEMENT This will confirm the agreement by and among the undersigned that the amendment to Schedule 13G filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the Common Stock, $.001 par value, of Valentis, Inc., a Delaware corporation, is being filed, and all amendments thereto will be filed, on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Dated as of February 7, 2003 OMICRON MASTER TRUST By: OMICRON CAPITAL, L.P., Investment Manager By: OMICRON CAPITAL, INC., General Partner By: /s/ Olivier Morali ---------------------------- Olivier Morali Title: President OMICRON CAPITAL, L.P. By: OMICRON CAPITAL, INC., General Partner By: /s/ Olivier Morali ---------------------------- Olivier Morali Title: President OMICRON CAPITAL, INC. By: /s/ Olivier Morali ---------------------------- Olivier Morali Title: President SCHEDULE 13G CUSIP NO. 91913E302 PAGE 16 OF 16 PAGES /s/ Bruce Bernstein ---------------------------- Bruce Bernstein /s/ Olivier Morali ---------------------------- Olivier Morali WINCHESTER GLOBAL TRUST COMPANY LIMITED By: /s/ Oskar P. Lewnowksi ---------------------------- Oskar P. Lewnowski Title: Chairman /s/ Oskar P. Lewnowksi ---------------------------- Oskar P. Lewnowski -----END PRIVACY-ENHANCED MESSAGE-----