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Vlosed at 69.5 and covered tech breakout at 57.5. Waiting for media. Vol 2.95m VWAP: 59.5

Prana reports positive results for PBT2
11:40, Tuesday, 26 February 2008

Sydney - Tuesday - February 26: (RWE Aust Business News) - Prana
Biotechnology Ltd (ASX:PBT) has announced that PBT2 has demonstrated
safety and tolerability and reduced Abeta 42, in a Phase IIa study of
PBT2 in patients with early Alzheimer's Disease.
PBT2 also improved executive function performance in select
cognitive tests.
In this double blind multi-centre clinical trial, 78 patients in
Sweden and Australia were randomised to receive either a placebo, PBT2
50mg or PBT2 250mg capsule once per day for 12 weeks.
Analysis of the trial data demonstrated that the safety and
tolerability profile of PBT2 at both doses was indistinguishable from
that of placebo. There were no study withdrawals related to adverse
events and there was no serious adverse event in any PBT2 treated
patient.
"This is a very exciting and important milestone for the company,
particularly because PBT2, a drug known to inhibit the toxic oligomers of
Abeta that cause the functional damage in Alzheimer's Disease, was able
to show such a clear effect in a short trial," said Geoffrey Kempler,
Prana's chairman and CEO.