EXHIBIT 99.1

FOR IMMEDIATE RELEASE
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For more information, contact:

Will Anderson            Mike De Mello
KVO, Inc.                OXIS International, Inc.
503/ 221-2351            800/ 547-3686
will_anderson@kvo.com    mdemello@oxis.com

  OXIS INTERNATIONAL'S BOARD OF DIRECTORS APPROVES ONE FOR FIVE REVERSE STOCK
                  SPLIT PREVIOUSLY AUTHORIZED BY STOCKHOLDERS

PORTLAND, ORE. -- OCTOBER 19, 1998 -- OXIS International, Inc. (NASDAQ: OXIS;
Nouveau Marche: OXIS) today announced that its board of directors has authorized
the effectuation of the one for five reverse stock split approved by its
stockholders at its annual meeting last July.  The Company expects that its
stock will commence trading on a post-split basis at the opening of the stock
market on October 21, 1998.

"The board of directors expects that a decrease in the number of shares of
common stock outstanding will increase the bid price of the stock and bring the
Company into compliance with the listing requirements of the NASDAQ National
Market System," stated Ray R. Rogers, OXIS International's chairman and CEO.
"We believe that the continuation of our stock's NASDAQ National Market listing
to be in the best interests of our stockholders.  Furthermore, we expect that
the post-split share price will allow us access to a larger audience of
potential investors."

OXIS International, Inc. is a drug discovery and diagnostics company focused on
the development of novel therapeutic molecules, diagnostic products and
supportive technologies to diagnose, treat and prevent diseases associated with
damage from free radicals and reactive oxygen species.  Through its catalog, the
Company also offers assays, spin traps, antioxidants and fine chemicals to basic
and clinical researchers working in the oxidative stress area.

                                    - more -

Certain of the statements contained in this press release are forward-looking
statements, including statements concerning the future share price of the
Company's stock.  The events 
 
OXIS INTERNATIONAL'S BOARD OF DIRECTORS APPROVES TOCK SPLIT
10/19/98
PAGE 2 OF 2


described herein may not occur in a timely manner, or at all. Accordingly, the
Company's future activities may differ materially from those projected in the
forward-looking statements.

OXIS International has headquarters in Portland, Ore., with research facilities
outside Paris, France, and instrument manufacturing operations in Philadelphia,
Pa.  Visit OXIS International on the World Wide Web at http://www.oxis.com.

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