Medivir's New Share Issue Oversubscribed

Huddinge, SWEDEN

HUDDINGE, Sweden, May 28, 2004 (PRIMEZONE) -- Following the close of the subscription period for Medivir's new share issue for SEK 322.5m, preliminary figures indicate subscription for slightly more than 118 percent of the issue.

According to the preliminary figures, slightly more than 96 percent of the B shares offered have been subscribed through the exercise of subscription rights. In addition, new B shares corresponding to slightly more than 22 percent of the total number of shares offered have been subscribed without the support of subscription rights, meaning that the new share issue is oversubscribed.

 Medivir's new share issue will be completed according to the following
 Press release on final subscription level for new share issue
 Approximately                               June 3
 Notification of any allocation of shares not supported by
 subscription rights                         Approximately June 4
 First day of trading in new B shares        Approximately June 7
 Payment for shares allocated through subscription not
 supported by subscription rights            Approximately June 9

Huddinge, Sweden, 28 May 2004 Medivir AB The Board

This press release must not be distributed to or published in the USA, Canada, Australia or Japan. This offer is not directed at persons whose participation is conditional on additional prospectuses, registration or other measures than pursuant to Swedish law.

Medivir in brief

Medivir is an innovative, specialised research company that develops pharmaceuticals with the aim of becoming a sustainable and profitable pharmaceuticals company. The company is located in Huddinge, Sweden and Cambridge, UK.

Medivir's research focuses on developing new pharmaceutical substances based on polymerases and proteases as target enzymes. The Group comprises Medivir AB, its subsidiary Medivir UK Ltd. and Medivir Personal AB. At the end of 2003, the Group had 109 employees. In 1996, Medivir was listed on the Stockholm Stock Exchange and since 1 July 2003, the company's shares are traded on the Attract40 segment of the O- list.

The research portfolio includes projects in the areas of HIV infection, hepatitis, shingles, cold sores, osteoporosis, rheumatoid arthritis (RA), asthma and multiple sclerosis (MS). Medivir has five individual projects in the clinical development phase, all with a unique clinical profile. The company's broad pre-clinical research portfolio includes five defined projects and some ten activities in different pre-clinical phases.

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