Forbes Medi-Tech Inc.
OTC Bulletin Board : FMTI

June 09, 2008 08:00 ET

Forbes Medi-Tech Receives Extension to Achieve Nasdaq's "Minimum Bid Price Requirement"

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2008) - Forbes Medi-Tech Inc. (TSX:FMI)(NASDAQ:FMTI) ("Forbes" or "Company") announced today that the Nasdaq Hearings Panel has granted the Company an extension through June 30, 2008, to demonstrate compliance with the Minimum Bid Price Requirement for continued listing on the Nasdaq Stock Market. Compliance with the Minimum Bid Price Requirement is normally demonstrated when the Company notifies the Panel that it has evidenced a closing bid price of $1.00 or more for a minimum of ten consecutive trading days.

About Forbes Medi-Tech

Forbes' strategy and vision is to develop and market a portfolio of nutraceutical products, including functional foods and dietary supplements, for the benefit of all consumers. An increasingly active population, the pursuit of healthier lifestyles and the desire to live longer have given rise to a category of products known as nutraceuticals. This category includes functional foods, which are conventional foods containing ingredients that provide additional health or nutritional benefits leading to possible risk reduction of contracting chronic diseases. For more information about Forbes Medi-Tech, please visit www.forbesmedi.com.

This News Release contains forward-looking statements and forward-looking information, within the meaning of applicable securities laws (collectively, "forward-looking statements"), regarding the Company's listing on Nasdaq and the Company's strategy and vision. Forward-looking statements can be identified by forward-looking terminology such as "June 30, 2008", "strategy", "vision", "to develop", and similar expressions or variations thereon. Forward-looking statements are inherently uncertain, and actual results may differ materially from the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, the volatility of the Company's share price; uncertainty whether the Company will meet the Minimum Bid Price Requirement by June 30, failing which the Company's shares will be de-listed from Nasdaq; the Company's need for additional future capital, which may not be available in a timely manner or at all; the Company's reliance on a few existing customers for performance and its need for additional customers, which are not assured; risks inherent in new product development; uncertainty regarding market acceptance of the Company's products or those of its customers; the effect of competition; unanticipated expenses and inability to control certain costs; intellectual property risks; the need for regulatory approvals, which are not assured; product liability and insurance risks; manufacturing risks and the Company's dependency on a single manufacturer for its supplies of Reducol™; exchange rate fluctuations; and changes in the Company's business strategy or plans. For a further discussion of these and other known risks and uncertainties affecting the Company and its business, please see our latest Annual Information Form / Form 20-F, and other documents filed by us with Canadian and U.S. securities regulatory authorities at www.sedar.com and www.sec.gov. Forward-looking statements are based on the beliefs, assumptions, and expectations of the Company's management at the time they are made, and the Company does not assume any obligation, except as required by law, to update its forward-looking statements if those beliefs, assumptions, or expectations or other circumstances should change.

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