NeuroSearch increases its share capital in connection with employees' exercise of warrants

NeuroSearch increases its share capital in connection with employees' exercise  
of warrants                                                                     

NeuroSearch (NEUR.CO) announced today that it is increasing its share capital by
DKK 2,513,100 nominal value equivalent to 125,655 shares of DKK 20 nominal value
each as a consequence of the exercise of employee warrants awarded in 2003. The 
number of outstanding warrants in the program is now 1,990. The new shares      
subscribed under the warrant program are issued without any pre-emption rights  
for the existing shareholders of the company or others and the subscription     
price is DKK 126.40 per share of DKK 20 nominal value each. The new shares carry
the right to dividend as of the date of subscription and will be listed on the  
Copenhagen Stock Exchange after registration with the Danish Commerce and       
Companies Agency. Following the capital increase, NeuroSearch A/S' share capital
will amount to DKK 248,903,420 nominal value equivalent to 12,445,171 shares.   




Asger Aamund                                                                    
Chairman of the Board                                                           





Contact person:	Anita Milland, Vice President & CFO                             
Telephone:	+45 44608274                                                         







NeuroSearch is a Scandinavian biopharmaceutical company listed on the Copenhagen
Stock Exchange (NEUR). Our core business covers the development of novel drugs, 
based on a broad and well-established drug discovery platform focusing on ion   
channels and transporters. A substantial part of the company's activities are   
partner financed through a broad alliance with GlaxoSmithKline (GSK) and        
collaborations with among others Abbott and Astellas. Eight drug programmes are 
in clinical development: ACR16 for the treatment of Huntington's disease (under 
preparation for Phase III), tesofensine for the treatment of obesity/type 2     
diabetes (Phase II), NS2359 for the treatment of depression (Phase II) and ADHD 
(Phase II) in partnership with GSK, NS1209 for the treatment of epilepsy and    
pain (Phase II), ABT-894 for the treatment of ADHD (Phase II) and neuropathic   
pain (Phase I) in partnership with Abbott, ACR16 for the treatment of           
schizophrenia (Phase I) in partnership with Astellas, and ACR325 for the        
treatment of psychoses such as bipolar disorder (Phase I). In addition,         
NeuroSearch has a broad portfolio of preclinical drug candidates and has equity 
interests in several biotech companies.