Oslo, Norway, 10 November 2004.

PhotoCure ASA (Oslo Stock Exchange: PHO) announces today that it has strengthened its management team with the appointment of 3 new senior executives; Grete Hogstad as Vice President Marketing and Sales, Pål Bråthen as Vice President Business Development and Christian Fekete as Chief Financial Officer (CFO). Furthermore, Vice President Research and Development Kjetil Hestdal has been promoted to Chief Operating Officer, while Hilde Morris, former Vice President Strategic Marketing has been promoted to Vice President Research and Development. Grete Hogstad's responsibilities will include strategic marketing.

PhotoCure has made these appointments to support the increase in its commercial activities, with Hexvix, PhotoCure's second pharmaceutical product about to enter the market.

Mr. Fekete has been appointed CFO, as Geir Christian Melen has decided to leave the company. Mr. Melen has served as CFO of PhotoCure for almost 8 years.

Mr. Fekete holds an MBA from the Kenan Flagler Business School, University of North Carolina, USA and an Academy Diploma from the Royal Norwegian Naval Academy. He has held several leading positions within finance and business development, more recently as Director of KPMG Corporate Finance, Director of Business Development in Thrane-Gruppen and Finance Director in various Coca-Cola companies.

Mr. Bråthen has recently joined PhotoCure. He has a degree in International Management from the Norwegian School of Management. He has more than 15 years of senior management experience in international sales, marketing and business development activities with the publicly listed companies Axis-Shield, Alpharma and Tomra Systems.

Mrs. Hogstad has a M.Sc. Pharm. degree from the University of Oslo, as well as a business degree from the Norwegian School of Management.  She has held various leading positions in Marketing and Sales in Alpharma and Novo Nordisk Pharma. Ms. Hogstad is a founding member of the Generics Association in Norway. Currently she is Director Sales and Marketing for Norway, Sweden and Finland in Alpharma and will join PhotoCure on February 1st 2005.

Vidar Hansson comments: "These appointments are an important step in PhotoCure's commercial expansion now that Hexvix is about to enter the market. Our new colleagues bring outstanding experience gained in a range of financial and pharmaceutical business settings and I am proud to work along side them."