Karo Bio's Annual General Meeting


HUDDINGE, Sweden, April 22, 2004 (PRIMEZONE) -- At Karo Bio AB's Annual General Meeting on Wednesday April 21, 2004, the following was resolved. Dividend No dividend is to be paid for the financial year 2003.



 Board of Directors
 Johan Claesson       re-election
 Dana M. Fowlkes      re-election
 Lars Ingelmark       re-election
 Ulla Litzen          re-election
 Per-Olof Martensson  re-election
 Bjorn Nilsson        re-election
 Leon E. Rosenberg    re-election
 John D. Baxter       deputy, re-election
 Jan-Ake Gustafsson   deputy, re-election

At the Board Meeting following the Annual General Meeting, Per-Olof Martensson was elected Chairman of the Board.

Nomination Committee

The Meeting resolved that the three largest shareholders, not being represented in the Board of Directors, shall appoint one representative each, which together with the Chairman of the Board shall be members of the nomination committee in respect of the 2005 annual general meeting. The representatives shall be appointed and announced no later than in conjunction with the company's quarterly report for the third quarter 2004.

For further information, please contact Bjorn Nilsson, President and CEO, phone +46 8 608 60 20 Bertil Jungmar, Chief Financial Officer, phone +46 8 608 60 52

Facts about Karo Bio

Karo Bio has operations in Sweden. The Company employs 95 people. Karo Bio has been listed on the Stockholm stock exchange (Reuters: KARO.ST) since 1998 and maintains a leading position in the field of drug discovery focused on nuclear receptors. Nuclear receptors are validated drug targets for a number of clinical indications and the Company uses proprietary technologies for the development of novel and improved therapies for major markets. Karo Bio has xxx patent cases including xxx granted patents. Karo Bio has drug discovery programs in several therapeutic areas including men and women's health care, metabolic disorders such as obesity, cardiovascular disease, diabetes, dermatology and ophthalmology. Karo Bio collaborates with major pharmaceutical companies for development of products and marketing. In these collaborations Karo Bio receives upfront payments, R&D funding, milestone payments as well as royalties on net sales when products reach the market. Karo Bio has strategic pharmaceutical drug discovery collaborations with Bristol-Myers Squibb, Merck & Co., Inc. and Wyeth Pharmaceuticals.

This press release is also available on www.karobio.com and www.waymaker.net

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The following files are available for download:

http://www.waymaker.net/bitonline/2004/04/22/20040422BIT00160/wkr0001.doc

http://www.waymaker.net/bitonline/2004/04/22/20040422BIT00160/wkr0002.pdf


            

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