Tripep carries out guaranteed new share issue with preferential rights raising SEK 28 million

·The Board of Directors of Tripep has decided to carry through a new share issue with preferential rights to existing shareholders. ·The new share issue will raise approximately SEK 28 million before transaction costs ·The new share issue has been guaranteed up to 100 per cent ·Every three shares give the holder the right to subscribe to one new share (1:3) to the subscription price SEK 5.50 per share. ·For every Tripep share subscribed to in the new share issue two warrants of different series are received. ·The warrants will, if fully subscribed, raise approximately SEK 25 million in additional funds. ·Tripep convenes extraordinary general meeting on 9 June for approval of the resolution by the Board of Directors Background “The purpose of the preferential rights new share issue is to finance the clinical testing of alphaHGA that we expect to commence shortly. The additional funds that may be raised through the warrants will be used for the further development of alphaHGA as well as the other projects of the company. The warrants give shareholders an opportunity to increase their investment in Tripep during the upcoming year, during which we hope to be able to present more positive news.” says Tripep’s Managing Director, Jan Nilsson. New share issue with preferential rights for existing shareholders The Board of Directors decided on May 23, 2005, subject to approval of an extraordinary general meeting, to carry out a new share issue with preferential rights to existing shareholders. Three existing shares entitle the holder to subscribe to one new share to the subscription price SEK 5.50 per share. Through the new share issue, the company raises approximately SEK 28 million before transaction costs. The new share issue increases the share capital by up to SEK 1,016,666.60 by the issue of up to 5,0833,333 shares in the company. The new share issue is fully guaranteed through subscription commitments and issue guarantees. The company has obtained a subscription commitment from Tripep’s single largest shareholder, Dormant Properties AB, holding approximately 21 per cent of the shares, who has committed to subscribe their full share of the new share issue. The remaining amount of the new share issue is guaranteed by a syndicate of which, among others, Dormant Properties AB is a member. Dormant Properties AB is controlled by the Chairman of the Board of Tripep, Rolf L. Nordström. The issue guarantee will be further described in the issue prospectus which is expected to be announced on 17 June 2005. Warrants For every share subscribed and paid for in the new rights issue, two warrants will be received free of compensation; one per series F and series G respectively. Four series F warrants grant the right to subscribe to a new share in the period August 1, 2005 – January 31, 2006 at the subscription price of SEK 8.00 per share. Four series G warrants grant the right to subscribe to a new share in the period August 1, 2005 – August 31, 2006 at the subscription price of SEK 12.00 per share. Full subscription of the warrants implies that additional funds of approximately SEK 25.4 million are raised, increasing share capital by SEK 508,333.20. Authorisation The Board of Directors will be proposed to receive authorisation by the extraordinary general meeting, on one or more occasion, to decide on a new share issue not exceeding a total of 2 million shares, and at that to decide on diversion from the shareholders preferential rights. Full subscription of such a new share issue and full exertion of the authorisation will imply a dilutive effect of approximately 9 per cent. Extraordinary general meeting The new share issue and the proposed authorisation will be presented for approval of an extraordinary general meeting on June 9, 2005. The complete notice is enclosed. Timetable for the new share issue - Extraordinary general meeting June 9, 2005 - Last day of trading of shares including subscription rights June 13, 2005 - Record day June 16, 2005 - Publication of prospectus approximately June 17, 2005 - Trading of subscription rights June 22 – July 1, 2005 - Subscription period June 22 – July 6, 2005 For more information, please contact: Rolf L. Nordström, Chairman of the Board of Directors, Tripep AB Tel: +44 20 7839 8686, mobile phone: +44 7776 137 400 E-mail: rolf.l.nordstrom@btinternet.com Jan Nilsson, CEO, Tripep AB Tel: +46 8 449 84 80, mobile phone: +46 70 466 31 63 E-mail: jan.nilsson@tripep.se Anders Vahlne, Head of Research, Tripep AB Tel: +46 8 5858 1313, mobile phone: +46 709 28 05 28 E-mail: anders.vahlne@labmed.ki.se