Oslo/Copenhagen, July 17, 2001

Nutri Pharma, (OSE: NUT) the functional food and beverages company, has today signed a marketing and distribution agreement, subject to approval of product formulation, for its range of Nutrilett and Abacor products with Faulding, a leading Australian healthcare company in Australia and New Zealand.

Nutrilett, for weight loss, and Abacor, for cholesterol lowering, will undergo product development specific to the Australian market with launches taking place throughout the next twelve months. Faulding will market these products under the umbrella of one of its leading nutritional brands. The products will be sold as powder, ready prepared drinks and cereal bars in pharmacies and grocery stores using Faulding’s comprehensive wholesale and retail healthcare distribution chains. Nutri Pharma will receive an up-front payment plus ongoing royalties on sales,

Nutri Pharma will endeavour, with assistance of Faulding, to sign up food companies in Australia and New Zealand to expand the product range into traditional foods plus launch, market and distribute Abacor food products. The two companies will explore opportunities for further geographic expansion, specifically into Asia.

David Murphy, Chief Executive Officer, Faulding Healthcare commented,
"The introduction of Nutrilett and Abacor will help us to strengthen and broaden our position in the functional food market. This will be a major launch for Faulding in the Australian and New Zealand market in the coming year. It is our plan to invest in a substantial program to promote the product in all our channels."

Graham Waters, Chief Executive Officer of Nutri Pharma said,
" We are pleased that Faulding has agreed to be our distribution partner in Australia and New Zealand. Its expertise in branded healthcare products, coupled with its leading position in wholesale and retail healthcare distribution will be the key to the successful launch of Nutrilett and Abacor for their future growth across the rest of Asia."

About Faulding
Faulding is a worldwide health and personal care company, listed on the Australian Stock Exchange with a turnover of US$ 1.17 billion. Faulding's principal businesses are oral and injectable pharmaceuticals, consumer health products, the provision of distribution and retail management services to pharmacies and logistics management services to hospitals. Faulding products are sold in over 70 countries.

About Nutri Pharma
Nutri Pharma is one of the global leaders in functional foods and beverages, developing and marketing innovative functional food ingredients and products, all based on the company’s proprietary soy technology. The products cure and prevent lifestyle-related diseases, such as elevated cholesterol level, obesity and type 2 diabetes. Nutri Pharma is listed on the main list at the Oslo Stock Exchange. Nutri Pharma and has offices in Norway, Denmark, Sweden, USA, the UK and Germany and a representative office in Sidney, Australia.

For further information, please contact:

Graham Waters, CEO Nutri PharmaTEL: +44 7866 734 161