Second Quarter Report 02/03

Second Quarter Report for Diamyd Medical AB (publ) December 1, 2002 - February 28, 2003 · Sales during the period were SEK 358,000 (393,000). · Earnings during the period were SEK -3.7 million (-7.3 million). The Company's liquid assets were SEK 32.7 million (52.4 million) as of February 28, 2002. · Earnings per share for the quarter was SEK -0.80 (-2.70). · Diamyd Medical intends to present results from its ongoing Phase II study with the GAD-based diabetes vaccine Diamyd(TM) during ADA's 63rd Annual Scientific Sessions in New Orleans, USA, June 13-17, 2003. Stockholm, April 16, 2003 The Board of Diamyd Medical AB (publ) This interim report has not been reviewed by Diamyd Medical's auditors Dates for Financial Information Quarterly report 3 July 31, 2003 Year End Report 2002/2003 October 21, 2003 General assembly December 4, 2003 * * * Diamyd Medical's business idea is to use its skills and network of contacts within immunology, biotechnology and business development to identify and develop pharmaceutical projects up to and including Phase II. The project will then be sold of licensed out to a major pharmaceutical company for continued commercialization. The development and marketing of related diagnostic tests and substances can be of interest to promote contacts with researchers and prepare the market for the impending pharmaceutical. Diamyd Medical's development strategy has since the Company was started been to use outsourcing, that is external expertise is contracted for certain well defined tasks aimed at giving immediate access to experts and plant and thereby maintain a high pace of development. The Group consists of the parent company Diamyd Medical AB (publ), the wholly owned subsidiary Diamyd Therapeutics AB, the wholly owned subsidiary Diamyd Diagnostics AB and Diamyd Inc. Furthermore, Diamyd Medical owns 19 per cent of Mercodia AB, which develops and markets diagnostic kits for autoimmune disease. The Group has placed its therapy projects in Diamyd Therapeutics and its diagnostic projects in Diamyd Diagnostics. Diamyd shares are traded on the O-list. The Company has a web site at www.diamyd.com. For more information contact: Anders Essen-Möller, Diamyd Medical AB (publ) (corporate. id. #: 556530-1420) Djurgårdsbrunnsvägen 54, SE-115 25 Stockholm, Sweden. Tel: +46 (0)8-661 00 26, 661 12 25, fax: +46 (0)8- 661 63 68 or email: info@diamyd.com This report is a translation from an original in Swedish. No guarantee is given or implied for the accuracy of statements concerning present or historical data, future results and prognoses. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/16/20030416BIT00040/wkr0001.doc The Full Report http://www.waymaker.net/bitonline/2003/04/16/20030416BIT00040/wkr0002.pdf The Full Report