Oslo, Norway, 16 June 2008

Reference is made to the stock exchange notification yesterday, 16 June 2008, regarding the completion of the demerger of Photocure ASA with PCI Biotech Holding ASA as the acquiring company.

The demerger was registered as completed in the Register of Business Enterprises after end of trading yesterday. The Photocure shares will be traded first day exclusive of the right to receive shares in PCI Biotech Holding today.

After the completion of the demerger and simultaneous capitalization issue, Photocure's share capital is NOK 11,046,650.50 divided on 22,093,301 shares, each with a nominal value of NOK 0.50.