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XTL Biopharmaceuticals Ltd. Announces $9.6 Million Private Placement to Institutional Investors
Date:10/25/2007

NEW YORK, October 25 /PRNewswire-FirstCall/ -- XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB)(LSE: XTL)(TASE: XTL) today announced that it has entered into definitive agreements with institutional investors relating to a private placement of an aggregate of $9.6 million in gross proceeds of ordinary shares, represented by American Depositary Receipts (ADRs). The lead investors in the transaction are Perceptive Life Sciences Fund, Quogue Capital LLC, SCO Capital Partners and Versant Capital.

Ron Bentsur, Chief Executive Officer of XTL, commented, "We are very pleased to have consummated this financing with high-quality investors in the biotechnology sector in the U.S. Following this offering, we believe that we will have sufficient capital to execute our business plan and, more importantly, to reach what we believe could be a major value-enhancing milestone - the completion of our on-going randomized, placebo-controlled Phase IIb trial of Bicifadine in diabetic neuropathic pain."

Pursuant to the securities purchase agreements, the Company will, following the closing, issue approximately 7.1 million ADRs, representing approximately 71 million ordinary shares. No warrants were issued in the transaction. XTL has agreed to register the ordinary shares and list the ADRs for trading on the Nasdaq Stock Market.

Closing of the transaction is conditional upon, among other things, the delisting of the Company's ordinary shares from the Official List of the United Kingdom Listing Authority, scheduled to take place at 8:00 am (London Time) on October 31, 2007.

Punk, Ziegel & Company, L.P. and Brean Murray, Carret & Co., LLC acted as placement agents in the transaction.

ABOUT XTL BIOPHARMACEUTICALS LTD.'/>"/>

SOURCE XTL Biopharmaceuticals Ltd
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