Oslo, Norway, 14 April 2000

The Norwegian biotech company Nutri Pharma ASA (OSLO: NUT) closed its public issue of 10 million new shares amounting to NOK 500 million (US$58.64 million), and a limited distribution sale of 1.1 million shares held by the company´s founders and executive management on 13, April 2000. The subscription price was set at NOK 50 (US$5.86) per share, and will trade under the symbol, NUT.

The new public issue of shares and limited distribution sale of shares was done in both the Norwegian and international capital markets. The subscriptions were close to evenly divided between these markets. The new public issue of shares and limited distribution sale of shares was subject to considerable interest and was substantially oversubscribed. Nutri Pharma is expected to have 1,200 shareholders when the transaction is completed.

On 12, April 2000, the Board of the Oslo Stock Exchange granted the company a listing at the Oslo Stock Exchange. After accomplishing the new public issue of shares and the limited distribution sale of shares, Nutri Pharma has fulfilled all conditions for listing at the main board as set out by the Oslo Stock Exchange. Nutri Pharma´s shares are expected to commence trading on 5, May 2000.

The public placement and the limited distribution sale of shares was managed by Alfred Berg Norway AS in the institutional market, and by Christiania Markets in the retail market. Nutri Pharma has granted Alfred Berg an option to subscribe for an additional two million shares at a corresponding price within 30 days after closing of the initial public share offering.

For further information, please contact:

Michael Oredsson, CEO Nutri Pharma ASA.TEL: +45 3338 4000
David Speechly, PhD, MBA. Noonan/Russo Ltd.TEL: 0171 726 4452