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PhotoCure ASA - Employee Share Options Excercised

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Oslo, Norway, 4 September 2006


PhotoCure ASA had a total of 263.926 employee options outstanding as of 4.9.2006.


Based on the above-mentioned allotment, employees in PhotoCure ASA have now exercised share options. The Board of Directors has therefore decided to increase the share capital with NOK 2,872.50 through the issue of 5,745 shares at NOK 0.50 each. The share capital increase is based on an authorisation granted to the Board of Directors at the Annual General Meeting held on 20 April 2006.


The Articles of Association for PhotoCure ASA are changed following the share capital increase and § 4 now reads as follows:


"The share capital of the company amounts to NOK 11,017,486.00 divided on 22,034,972 shares at NOK 0.50 each, registered by name and fully paid. All shares in the Company must be registered with the Norwegian Registry of Securities (VPS)."


 
PhotoCure ASA is a Norwegian pharmaceutical company listed on Oslo Stock Exchange. The company develops and sells pharmaceuticals and medical devices for the treatment and diagnosis of different types of cancer. The products are based on proprietary photodynamic technologies, targeting specific dermatology and oncology markets.
 
PhotoCure has currently two pharmaceutical products on the market: Metvix®, for the treatment of sun-damaged skin and certain types of skin cancer, and Hexvix®, for the diagnosis of bladder cancer. In addition, the company has developed a proprietary light source, the Aktilite® lamp, which is used in combination with the Metvix cream. Through worldwide studies, PhotoCure is continuously testing its products for new indications, and the aim is to develop a pipeline of follow-on products and technologies.
 
 
For further information, contact:
 
PhotoCure ASA                                                         
Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
Hoffsveien 48
NO-0377 Oslo
Norway
www.photocure.com
Telephone: +47 22 06 22 10

Kjetil Hestdal (kh@photocure.no)
Mobile: +47 913 19 535
Christian Fekete (cf@photocure.no)
Mobile: +47 916 42 938

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