announcement

Perth, Australia. 24 September 2004. Solbec Pharmaceuticals Ltd (ASX:SBP) announced that it
has issued 9,101,054 new shares following to the exercise of Options (ASX:SBPOA) over shares
for a consideration of $1,092,126.
“In the light of our recent success with SBP002 trials, I am not surprised that many holders joined
members of the Board in exercising Options before the recent rise in exercise price”, said
Managing Director, Stephen Carter.
“These funds boost Solbec’s working capital to around $3.3m and are a valuable addition as we
push for our next development milestones”, he added.
At a recent briefing to shareholders, Solbec’s Board of Directors highlighted the Company’s
achievement in getting SBP002 to its present stage of development substantially quicker than
industry norms. The full presentation is available for download from Solbec’s website.
The Exercise Price of Solbec’s Options (ASX:SBPOA) rose to 20 cents on 19th September 2004.
See www.solbec.com.au
For further information, please contact:
Stephen Carter
Solbec Pharmaceuticals Ltd
(08) 9446 7555
Media:
Rebecca Christie or Amy Winter
(02) 9293 2836 / 0417 382 391
[email protected] / [email protected]