The Board of Directors proposes an increase in unappropriated funds through a reduction of the statutory reserve

The Board of Directors proposes an increase in unappropriated funds through a
reduction of the statutory reserve

With the objective to increase the company's financial flexibility, the Board of
Directors of Biotage AB has resolved to propose an increase in unappropriated
funds through a reduction of the company's statutory reserve with SEK
842.180.000 for appropriation to a non-restricted reserve. Accordingly, the
Board of Directors has resolved to summon an extraordinary general meeting,
which will consider the proposed reduction of the statutory reserve. A notice to
the extraordinary general meeting, which is planned to be held on Friday, 21
November 2008, will be issued within short. 

The reduction of the statutory reserve requires approval by the Swedish
Companies Registration Office (Sw. Bolagsverket), or a court (Sw. allmän
domstol) in case of a dispute. The statutory reserve will be entirely dissolved
following the execution of the said reduction. The non-restricted reserve that
is created through the reduction of the statutory reserve will be appropriated
in accordance with resolution(s) adopted at forthcoming general meeting(s).

Contact: 
Torben Jörgensen, President and CEO 
Tel: +46 707 49 05 84, torben.jorgensen@eu.biotage.com 

The information in this press release is such that Biotage AB is required to
disclose under the Swedish Securities Market Act and/or the Swedish Financial
Instruments Trading Act. It was released for publication at 8am (CET) on 31
October 2008.


About Biotage 
Biotage is a global company active in life science research with strong
technologies, a broad range of operations and a long-term view of the market.
The company offers solutions, knowledge and experience in the area of medicinal
chemistry. In 2005 business and products from the company Argonaut were
acquired, further strengthening the product range in medicinal chemistry. The
customers include the worlds top 30 pharma companies, the worlds top 20 biotech
companies, and leading academic institutes. The company is headquartered in
Uppsala and has subsidiaries in the U.S., Japan, UK, Germany and several other
European countries. Biotage has 300 employees and had sales of SEK 496m in 2007.
Biotage is listed on the OMX Nordic stock exchange. Website: www.biotage.com