Forbes Medi-Tech Inc.
OTC Bulletin Board : FMTI

March 02, 2005 08:01 ET

Forbes Medi-Tech Receives European Approval for Reducol'TM' in Seven Major Food Groups-Approval Creates New Opportunities for Cholesterol-Lowering Ingredient in Europe


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FORBES MEDI-TECH INC.

TSX SYMBOL: FMI
NASDAQ SYMBOL: FMTI

MARCH 2, 2005 - 08:01 ET

Forbes Medi-Tech Receives European Approval for
Reducol'TM' in Seven Major Food Groups-Approval
Creates New Opportunities for Cholesterol-Lowering
Ingredient in Europe

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2005) - Forbes
Medi-Tech Inc. (TSX:FMI)(NASDAQ:FMTI) announced today that the Company
received an opinion of substantial equivalence from European regulatory
authorities allowing Forbes to market its cholesterol-lowering
ingredient, Reducol™, in a variety of approved food groups including:
yellow fat spreads (margarine), fermented milk type products, soy
drinks, low-fat cheese type products, yoghurt type products, spicy
sauces, and salad dressings. The substantial equivalence notification
follows the recent approval for the use of Reducol™ in milk-based
products. With regulatory approvals in place and the recently announced
expansion of the Company's 50-50 manufacturing joint-venture facility,
Forbes is in a favorable position to capitalize on EU consumers'
preference for non-GMO foods.

"Our sales opportunities have increased significantly with the approval
of Reducol™ in these key food groups," said President and CEO,
Charles Butt. "I am very encouraged by the level of enthusiasm of our
European partners as they prepare for Reducol™ product launches in
the coming months."

About Reducol™

Reducol™ is a clinically proven ingredient to help lower LDL (bad)
cholesterol levels safely and naturally. It is a unique blend of
naturally occurring compounds found in plants known as phytosterols and
phytostanols. Reducol™ is produced by the Phyto-Source joint venture
manufacturing facility in Pasadena, Texas, a 50-50 joint venture
currently representing the largest approved source of food grade wood
sterols in the world. Additional information on Reducol™ can be found
at www.reducol.com

About Forbes Medi-Tech Inc.

Forbes Medi-Tech Inc. is a biopharmaceutical company dedicated to the
research, development and commercialization of innovative prescription
pharmaceutical and nutraceutical products derived from by-products of
the forestry industry and other natural sources for the prevention and
treatment of cardiovascular and related diseases. The Company's
scientific platform is based on core sterol technology. Forbes has
developed cholesterol-lowering agents for use in pharmaceutical
compounds, functional foods and dietary supplements.

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. This News Release contains forward-looking statements
regarding new sales opportunities for Reducol™ in Europe and future
product launches. Forward looking statements can be identified by the
use of forward-looking terminology such as "opportunties", "prepare
for", "coming months", "to capitalize" or any other variations thereon
or comparable terminology referring to future dates, events or results.
Forward-looking statements are statements about the future and are
inherently uncertain, and the Company's actual results could differ
materially from those anticipated in those forward-looking statements as
a result of numerous factors, including without limitation; uncertainty
of the size and existence of a market opportunity for the Company's and
its customers' products; uncertainty whether planned product launches
will occur as planned; uncertainty regarding market acceptance of the
Company's and its customers' products; the need for performance by the
Company's customers; product liability and insurance risks; the
Company's dependency on its manufacturing joint venture partner;
marketing/manufacturing and partnership/strategic alliance risks; the
effect of competition; exchange rate fluctuations; the Company's need
for additional future capital, which may not be available in a timely
manner or at all; intellectual property risks; environmental risks; as
well as a description of other risks and uncertainties affecting the
Company and its business, as contained in news releases and filings with
the United States Securities and Exchange Commission and Canadian
Securities Regulatory Authorities, any of which could cause actual
results to vary materially from current results or the Company's
anticipated future results. Forward-looking statements 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 its forward-looking statement if those beliefs, opinions or
expectations, or other circumstances should change.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Forbes Medi-Tech Inc.
    Darren Seed
    Manager, Investor Relations
    (604) 681-8976
    dseed@forbesmedi.com