Update from Pyrosequencing´s Annual General Meeting

UPDATE FROM PYROSEQUENCING'S ANNUAL GENERAL MEETING Uppsala, Sweden, April 24, 2003 - Pyrosequencing AB (Stockholm: PYRO A) announced that the following decisions were made at the Shareholder's Annual General Meeting held today. The Board members Lars Gatenbeck, Björn Odlander, Mathias Uhlén, Bengt Samuelsson and Eugen Steiner were re-elected for another term. Jeff Bork was elected as a new member. The board has announced that they intend to appoint Jeff Bork as Chairman of the Board. In addition, it was decided that total Board compensation would be SEK 1,170,000, to be divided among the members. It was decided that no dividend would be paid for the financial year 2002. At the Annual General Meeting held on April 22, 2002, it was decided that a global employee option program would be established. At today's AGM the Board was authorized to issue debentures with detachable warrants in sufficient numbers to cover the company's commitments for the rest of the option program, and to cover administrative costs, social fees and other similar expenses related to the program. The meeting also authorized the Board to decide on a new share issue corresponding to a maximum of 10 percent of the current share capital. The deviation from the shareholders' preferential rights is made in order to enable the acquisition of companies or parts of companies. About Pyrosequencing AB Pyrosequencing AB develops, manufactures and sells complete solutions for rapid applied genetic analysis based on its proprietary Pyrosequencing(TM) technology, a broadly applicable DNA sequencing technique. Pyrosequencing is a leader in the global market in Applied Genomics with more than 260 systems sold to major pharmaceutical and biotech companies and prestigious research institutions worldwide. The Company actively collaborates with industry leaders to develop clinical applications of the technology for disease diagnosis, clinical prognosis and pharmacogenomics testing. Pyrosequencing products include the bench-top PSQ(TM)96, PSQ(TM)96MA and PSQ(TM)HS 96A Systems, all of which utilize proprietary software and reagent kits. Among Pyrosequencing's customers are AstraZeneca, GlaxoSmithKline, Merck, Schering-Plough, Bristol-Myers Squibb, the NIH, the CDC, the Karolinska Institute, Genzyme Corp., Biogen, Oxagen, NASA, DuPont Agriculture, Health Protection Agency, and the Swedish University of Agricultural Sciences. The web address is www.pyrosequencing.com. FOR FURTHER INFORMATION CONTACT: Pyrosequencing AB Erik Walldén President and CEO erik.wallden@pyrosequencing.com +46 70 326 98 70 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/24/20030424BIT02140/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/24/20030424BIT02140/wkr0002.pdf