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XTL Biopharmaceuticals Provides Update on Potential Strategic Alternatives

VALLEY COTTAGE, N.Y., Jan. 28 /PRNewswire-FirstCall/ -- XTL Biopharmaceuticals Ltd. (Nasdaq: XTLB, TASE: XTL) today announced an update to its December 8, 2008 press release regarding the Company's activities in seeking to acquire potential assets or to identify a company to merge into or with XTL.

The Company is currently evaluating several merger proposals that have been presented to it by both US and foreign-based companies who operate in and outside of the healthcare space. These discussions are preliminary in nature, and consequently, the timing of and ability to consummate such a transaction cannot be predicted at this time, and the Company may still decide that the distribution of its remaining assets to the shareholders in a liquidation offers the best possible alternative to the shareholders.

XTL has retained an investment banking firm to advise the Company in assessing these potential merger opportunities.

Cautionary Statement

Some of the statements included in this press release, particularly those anticipating future business prospects, may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. In particular, we may not be able to consummate a merger transaction with any of the potential merger partners due to certain conditions that are likely to be required by our potential merger partners and regulatory authorities. In addition, our remaining cash resources are scarce and we may be delisted from NASDAQ, both of which may further limit our ability to remain an attractive merger candidate. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at The information in our website is not incorporated by reference into this press release and is included as an inactive textual reference only.

SOURCE XTL Biopharmaceuticals Ltd.
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