PCI BIOTECH - PRELIMINARY RESULT OF THE RIGHTS ISSUE

Lysaker, Norway, June 10, 2010. The subscription period for the rights issue of
PCI Biotech Holding ASA ("PCI Biotech") expired at 17:30 (Oslo time) yesterday,
June 9, 2010. Preliminary counts indicate that PCI Biotech received
subscriptions for a total of approximately 3.36 million new shares.

2,250,000 new shares were offered, and the rights issue was thus oversubscribed
by approximately 50 percent.

"We are very satisfied with the share issue being oversubscribed. The capital
increase of NOK 90 million will enable us to complete the planned clinical
development for 3 to 4 selected cancer indications. When you take into account
this strengthened cash position and the very promising results achieved so far
in the ongoing Phase I/II study at University College Hospital in London, we are
now well positioned for the further development of both our pipeline and PCI
Biotech as a company", says Per Walday, CEO, PCI Biotech.

The final allocation of the shares offered in the rights issue is expected to be
resolved by the Board of Directors of PCI Biotech on or around June 15, 2010 in
accordance with the allocation criteria set out in the prospectus dated May
25, 2010. The final result of the rights issue is expected to be published
through Hugin on or around June 16, 2010. Notifications of allocated new shares
and the corresponding subscription amount to be paid by each subscriber are
expected to be distributed in letters from VPS on or around the same date.

DnB NOR Markets and Fondsfinans are the joint lead managers for the rights
issue.

Contact information:

PCI Biotech Holding ASA, Strandveien 55, N-1366 Lysaker

Per Walday, CEO (pw@pcibiotech.no), Mobile: +47 917 93 429

Bernt-Olav Røttingsnes, CFO (bor@pcibiotech.no), Mobile: +47 913 47 021



For international media inquiries:

Richard Hayhurst, Schwartz.

* * * * * *

*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.

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


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