improved market sentiment

“Chemgenix, Heartware, Metabolic and
Pharmaxis among the top picks for 06/07”
(Radar Investor Relations survey of
16 leading biotech analysts)

“Metabolic Pharmaceutical’s impressive
turnaround”
(Bioshares, 13 Oct 2006)

“MBP is a very different company than it was
two years ago…the product line has been
significantly expanded”
(ABN-AMRO Morgans’ weekly
healthcare newsletter, 17 Oct 2006)

“Metabolic was a "screaming bargain at 45c"
… a "super-binary" company that seems set
to go well if the Phase 2 trial results are
positive.”
(Patersons analyst Dr Matthijs
Smith quoted in Biotechnology
News, 20 October 2006)