Forbes Medi-Tech Inc.
OTC Bulletin Board : FMTI

October 24, 2007 08:00 ET

Forbes Medi-Tech Increases Revenue Guidance Range 16% to $8.75 to $9.25 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2007) - Forbes Medi-Tech Inc. (TSX:FMI)(NASDAQ:FMTI) today announced that it has increased its revenue guidance to a range of CDN$8.75 to $9.25 million for fiscal 2007 based on the growth of contracted and forecasted tonnage for Reducol™, value added products and other sterol products for sale into the functional food and dietary supplement markets. The Company had previously issued revenue guidance of $7.5 to $8 million.

"Our nutritional business has grown substantially in the last two years with a strong presence in the European marketplace and growing awareness in the U.S.," said Charles Butt, President and CEO of Forbes Medi-Tech. "Factors included in the lift in revenue guidance are an increase in account activity and the sale of excess inventory partially offset by the impact of the strengthening Canadian dollar against the U.S. dollar and the Euro. The sale of excess inventory has aligned our remaining inventory with forecasted demand."

About Forbes Medi-Tech Inc.

Forbes Medi-Tech Inc. is a life sciences company dedicated to the research, development and commercialization of innovative products for the prevention and treatment of life-threatening disease. Our strategy and vision is to develop and market a portfolio of products for the benefit of all consumers, from the healthy person desiring consumer lifestyle products that can help reduce the risk of future disease, to medical patients needing therapeutic prescription products for the treatment of an established ailment. Additional information on Forbes Medi-Tech can be found at www.forbesmedi.com.

This News Release contains forward-looking statements and information regarding the Company's revenue guidance, forecasted sales, and Forbes' strategy and vision, which statements can be identified by the use of forward-looking terminology such as "revenue guidance", "forecasted", "strategy" and "vision" or comparable terminology referring to future events or results. The Company's actual results could differ materially from those anticipated in these forward-looking statements and information as a result of numerous factors, including the Company's need for additional funding in the near term, the availability and sufficiency of which is not assured; uncertainty whether the Company will be able to achieve its revenue guidance; the need for performance by buyers of the Company's products and the risk that they may not purchase forecasted amounts; product liability and insurance risks; the effect of competition; reliance by the Company on its suppliers, manufacturers and customers for performance; uncertainty whether the Company will realize its strategies and vision; intellectual property risks; manufacturing risks and the need to manufacture to regulatory standards; changes in business strategy or development plans; as well as a description of other risks and uncertainties affecting the Company and its business, as contained in news releases and filings with Securities Regulatory Authorities in Canada and the U.S., any of which could cause actual results to vary materially from current results or the Company's anticipated future results. Forward-looking statements and information are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update any statement should those beliefs, opinions or expectations, or other circumstances change.

NASDAQ and the Toronto Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of the content of this News Release.

Contact Information