Forbes Medi-Tech Inc.
OTC Bulletin Board : FMTI

January 31, 2008 08:01 ET

ISS Recommends Forbes Medi-Tech Shareholders Vote 'FOR' the Proposed Corporate Reorganization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2008) - Forbes Medi-Tech Inc. (TSX:FMI)(NASDAQ:FMTI) announced today that Institutional Shareholder Services Inc. (ISS) has formally recommended that their clients holding shares in Forbes Medi-Tech vote "FOR" the proposed corporate reorganization. ISS, one of the world's leading providers of corporate governance and proxy voting solutions, conducted an independent and comprehensive analysis of Forbes' proposed corporate reorganization and its impact on shareholders.

"The independent review and recommendation in favor of the corporate reorganization represents a strong endorsement of its strategic benefits to shareholders," said Charles Butt, President and CEO of Forbes Medi-Tech.

As previously announced, the special general meeting of shareholders is to be held February 14, 2008, at 8:00 a.m. PT, at the offices of Farris, Vaughan, Wills & Murphy LLP on the 25th floor, 700 West Georgia Street, Vancouver, B.C. Forbes Medi-Tech shareholders are encouraged to vote for the corporate reorganization by completing, signing, dating and returning their proxy form no later than 8:00 a.m. (Vancouver time) on February 12, 2008. Shareholders requiring assistance in voting their proxies should call the Proxy Solicitation Agent, Kingsdale Shareholder Services Inc., toll-free, at 1-866-639-7993.

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 Forbes proposed Plan of Arrangement and reorganization, Forbes' strategy and vision, and other information related to future periods. Forward-looking statements and information can be identified by the use of forward-looking terminology such as "proposed", "expects", "is to be", "strategy", "vision", or comparable terminology referring to future events or results. Forward-looking statements and information are statements and information about the future and are inherently uncertain. The Company's actual achievements and other results and occurrences could differ materially from those anticipated in these forward-looking statements and information due to a variety of risks, uncertainties and other factors, including, without limitation, uncertainty whether the plan of arrangement will be submitted to shareholders as proposed or at all, or if approved, will be implemented; uncertainty whether all necessary approvals to the plan of arrangement, including regulatory and shareholder approval, will be obtained; the risk that the mailing date, meeting date, and time and/or location of the meeting are subject to change; uncertainty whether the Nasdaq minimum bid price will be achieved and whether the Company's or Newco's shares will remain, or will be, listed on the TSX and/or Nasdaq; the need for additional funding, which may not be available in a timely manner or at all, notwithstanding Newco's ability to offer new financing alternatives; the risk of unanticipated costs or expenses; uncertainty whether the Company will realize is strategies and vision; the need for additional research and development, the outcome of which is uncertain; 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 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 and information are based on the assumptions, 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 statements or information if those assumptions, beliefs, opinions or expectations or other circumstances should 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.

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