Inclusion Criteria:

- Females must be non-pregnant, non-lactating and post-menopausal.

- A glycosylated hemoglobin level greater than 7.5% and less than 10%.

- Has an age of onset of Type 2 Diabetes greater than 35 years of age.

- Is on metformin monotherapy up to the maximum tolerated daily dose.

- Has a normal or only slightly impaired renal function (a modification of diet in
renal disease estimated glomerular filtration rate greater than 60 ml/min/1.73m2.

- Antihypertensives, statins and any other hypolipidemic medications have been
initiated at least three months prior to enrollment; no dose modifications are
allowed during the study.

- Has one or more cardiovascular comorbidities as follows:

- stable angina pectoris

- previous (greater than three months) transient ischemic attack, cerebrovascular
accident or carotid atherosclerosis as assessed by bilateral carotid artery
ultrasonography

- peripheral vascular complications documented by a history of claudication or
rest pain, ultrasonography or angiography.

- and/or two or more of the following major cardiovascular risk factors:

- hypertension (blood pressure >130/80 mmHg or treatment)

- dyslipidemia (low-density lipoprotein-cholesterol >100 mg/dl or treatment and/or
high-density lipoprotein-cholesterol <40 mg/dl in men and <45 mg/dl in women or
treatment)

- smoking (>10 cigarettes/day)

Exclusion Criteria:

- Has Type 1 Diabetes.

- Is on insulin therapy.

- Is severely obese defined as a body mass index greater than or equal to 40mg/m2

- Has diabetic retinopathy.

- Has evidence of hepatic dysfunction including liver transaminase greater than three
times the upper limit of normal.

- Is unable to remain on a stable dose of the following class of medications 30 days
prior to randomization and throughout the six months of the study:

- antihypertensives

- statins

- other hypolipidemic and antiplatelet drugs

- Has a history of alcohol or other drug abuse.

- Has had a new diagnosis of cancer or recurrent cancer within five years of screening.

- Has a need for chronic (greater than two weeks) immunosuppressive therapy.

- Has had heart failure based on the New York Heart Association Functional Class I
through IV.

- Is required to take or intends to continue taking any disallowed medication, any
prescription medication, herbal treatment or over-the counter medication that may
interfere with evaluation of the study medication, including:

- Other antidiabetic drugs (except metformin)

- Fibrates

- Rifampicin

- Glibenclamide interacting drugs, including nonsteroidal anti-inflammatory agents

- Other drugs that are highly protein bound, including:

- sulphonamides

- chloramphenicol

- probenecid

- monoamine oxidase inhibitors

- fluoroquinolones antibiotics

- oral miconazole

- Has participated in another clinical study within the past three months.