UK: Mayer, Brown, Rowe & Maw LLP Advises On XTLbio Fundraising
Last Updated: 4 August 2004

Mayer, Brown, Rowe & Maw LLP has acted as UK and US legal adviser to Code Securities Limited ('Code') and Altium Capital Limited ('Altium') on XTL Biopharmaceuticals Ltd's proposal to raise $17.8 million (£9.8 million) through an Open Offer incorporating a UK Placing, an Israeli Private Placement and a US Private Placement.

Code acted as financial adviser and broker in relation to the UK Placing and the Open Offer, and Altium acted as sponsor to XTL Biopharmaceuticals and underwriter to the UK Placing.

XTL Biopharmaceuticals is an Israel-based biopharmaceutical company developing drugs against hepatitis, and is listed on the Official List. Following the Fundraising, XTL Biopharmaceuticals intends to focus its efforts on its two hepatitis C programmes.

The Mayer, Brown, Rowe & Maw LLP team consisted of corporate partners Stephen Bottomley and Mark Uhrynuk assisted by James Trentham. Jones Day acted for XTL Biopharmaceuticals.

For further information: †

Stephen Bottomley

Will Hulbert

Corporate Partner

PR Manager

+44 (0)20 7782 8825

+44 (0)20 7782 8804 †

sbottomley@mayerbrownrowe.com

whulbert@mayerbrownrowe.com †

Notes to Editors †

About Mayer, Brown, Rowe & Maw LLP †

*Mayer, Brown, Rowe & Maw LLP has 13 offices worldwide including Chicago, New York, Washington, London, Frankfurt and Paris. It delivers multi-jurisdictional advice to the world's leading companies, financial institutions and multinational businesses. †

*Mayer, Brown, Rowe & Maw LLP has a total of over 1,300 lawyers worldwide. For further information on Mayer, Brown, Rowe & Maw LLP, please visit http://www.mayerbrownrowe.com/london†At the recent Chambers Global Awards, Mayer, Brown, Rowe & Maw LLP was named 'UK Law Firm of the Year, 2004'. †

* Mayer, Brown, Rowe & Maw LLP is a combination of two limited liability partnerships, each named Mayer, Brown, Rowe & Maw LLP, one incorporated in England and one established in Illinois, USA. †

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