A series of phenoxy benzoxaboroles were synthesized and screened for their inhibitory activity against PDE4 and cytokine release. 5-тАЛ(4-тАЛCyanophenoxy)тАЛ-тАЛ2,тАЛ3-тАЛdihydro-тАЛ1-тАЛhydroxy-тАЛ2,тАЛ1-тАЛbenzoxaborole (AN2728) showed potent activity both in vitro and in vivo. AN2728 is being studied as an anti-inflammatory agent.