Oslo/Copenhagen, December 28, 2001

The board of Nutri Pharma (OSE: NUT) has decided to move the company’s international headquarters from Copenhagen to London. The new offices will be established and in operation by mid 2002. At the same time the Copenhagen office will be closed down.

Mr. Aage Østerstrøm, CFO has notified the board that he for personal reasons finds it difficult to relocate to the United Kingdom and on this basis has resigned his position. Mr. Østerstrøm will however remain with the company until the end of February 2002.

The Board has appointed Mr. Eirik Ubøe to new CFO. Mr. Ubøe comes from the position of CFO at 20 Min Holding AG, a privately held company publishing free commuter newspaper in several European cities. Prior to this Mr. Ubøe was Group Treasurer at Schibsted ASA, an OSE listed company and Norway's leading publishing house. Before joining Schibsted, Eirik Ubøe held various positions with Norwegian and international banks such as Chase Manhattan. Bank, Banque Paribas and Finansbanken both in Norway and in the United States.

Mr. Ubøe will take up his new position at a date to be decided.

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 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 7900 582 022