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The Board of FuturaGene ("the Board") announces that it has settled all of the existing legal claims between the Company and certain founders, namely B. Ruggiero, F. Ruggiero, M. Zgagacz, R. Bressan, H. Bohnert, J. Zhu, V. Agnohotri and A. Agnohotri. Accordingly, as of today, all claims among these parties have been resolved.

Although the specific terms of the settlement are confidential, pursuant to AIM Rule 12 the Company makes the following disclosures:

• All parties have terminated all lawsuits against each other.
• The Company has not issued, nor will it issue in the future, any additional shares to B. Ruggiero, F. Ruggiero, M. Zgagacz, R. Bressan, H. Bohnert, J. Zhu, V. Agnohotri and A. Agnohotri.
• The Company has reached an out of court settlement with Mr B. Ruggiero in respect of the wrongful dismissal case, without any admission of wrong doing
• The Company has requested that a license to a discovery known as Osmotin be transferred back to Purdue Research Foundation ("PRF"). Osmotin was licensed by FuturaGene, Inc. from PRF in April, 2005. The Company does not deem Osmotin material for its business.

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