Guaranteed rights issue of NOK 90 million in PCI Biotech Holding ASA

The Board of Directors PCI Biotech Holding ASA ("PCI Biotech") proposes to
strengthen the company's equity by NOK 90 million through a share issue of
2,250,000 shares with pre-emptive subscription rights for existing shareholders.
The rights issue is guaranteed fully subscribed. The subscription price in the
rights issue is NOK 40 per share.

The purpose of the rights issue is to strengthen the equity to enable the
company to complete the planned clinical development studies within selected
cancer indications.

The rights issue is subject to approval by an extraordinary general meeting. The
company will call for the extraordinary general meeting as soon as practicable
possible, and it is expected to be held on 18 May 2010.

Transaction highlights:
The proposed share capital increase will be carried out as a rights issue for
existing shareholders in PCI Biotech, as per the date of the extraordinary
general meeting, who lawfully may participate in the share capital increase. The
shares will be traded excluding subscription rights from and including the day
after the extraordinary general meeting is held.

It will be issued 0.4154 subscription rights per existing share in PCI Biotech.
The number of subscription rights issued to each shareholder will be rounded
down to the nearest whole subscription right. Each subscription right entitles
subscription of one new share. The subscription rights will be freely
transferable and will be sought listed on Oslo Axess during the subscription
period. Subscription rights not used during the subscription period will lapse
and be without value at the end of the subscription period. Oversubscription is
allowed, and it will be permitted to subscribe for shares without the use of
subscription rights.

Subject to that the prospectus for the rights offering is approved by The
Financial Supervisory Authority of Norway, the subscription period is expected
to be from and including 26 May 2010 to and including 9 June 2010. The rights
issue is planned to be completed within the end of June 2010.

The subscription price per new share in the rights issue will be NOK 40 per new
PCI Biotech share, which is approx. 16.7% below the closing price on 22 April
2010.

The proposed share capital increase is guaranteed fully subscribed by a
guarantee consortium, whereby all the guarantors are among the company's largest
shareholders. The participants in the guarantee consortium shall subscribe for
shares that are not subscribed by others by the end of the subscription period.
The guarantee commission is 1.5% of guaranteed amount.

The guarantee consortium has been established by DnB NOR Markets and
Fondsfinans, which will act as Managers for the rights issue.

PCI Biotech will prepare a prospectus for the rights issue which shall be
approved by The Financial Supervisory Authority of Norway, which will provide
further information about the rights issue and the company.

After completion of the rights issue, the company's share capital will be NOK
22,999,170 divided into 7,666,390 shares, each with a par value of NOK 3. One
share provides for the right to cast one vote at the general meeting.

Important notice
Not for release, publication or distribution in Australia, Canada, Japan, the
United Kingdom or the United States or elsewhere where such dissemination or
distribution is not appropriate or lawful. This announcement does not constitute
an offer to sell or the solicitation of an offer to buy the securities of PCI
Biotech (the "Securities") in Australia, Canada, Japan, the United Kingdom, the
United States or in any other jurisdiction. The Securities may not be offered or
sold in the United States absent registration or an exemption from registration
under the U.S. Securities Act of 1933, as amended. The issuer of the Securities
has not registered, and does not intend to register, any of the Securities or
the new shares to be issued in the rights offering in the United States, and
does not intend to conduct a public offering of the Securities in the United
States.

Contact information:
PCI Biotech Holding ASA, Strandveien 55, N-1366 Lysaker v/
Per Walday, CEO (pw@pcibiotech.no), Mobile: +47 917 93 429
Bernt-Olav Røttingsnes, CFO (bor@pcibiotech.no), Mobile: +47 913 47 021



This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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