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Response Biomedical Announces Insider Participation in Current Financing
Date:10/27/2008

(approximately 0.49%

excluding any warrant shares and

approximately 0.73% including all

warrant shares)

(5) Todd Patrick (Director): 670,000 units (approximately 0.49%

excluding any warrant shares and

approximately 0.73% including all

warrant shares)

(6) Duane Morris (COO): 333,334 units (approximately 0.24%

excluding any warrant shares and

approximately 0.37% including all

warrant shares)

The aggregate total number of units to be purchased by the Insiders is 5,506,568, which represents approximately 15% of the aggregate total of (up to) 36.67 million units being offered under the Financing, assuming that all 36.67 million units are sold. As a percentage of the total number of issued and outstanding shares prior to this transaction, the common shares being issued to Insiders represent approximately 4.04% excluding any warrant shares and approximately 6.06% including all warrant shares.

As a percentage of the total number of issued and outstanding shares prior to this transaction, the common shares being issued pursuant to the Financing (assuming that all 36.67 million units are sold) represent approximately 27% excluding any warrant shares and approximately 40.3% including all warrant shares.

Prior to completion of the Financing, the number and percentage of the Company's issued and outstanding shares held by the Insiders is as follows:

(1) Richard Bastiani (Chairman): N/A

(2) Richard Bear (Director): N/A

(3) Anthony Holler (Director): 1,647,166 common shares (1.21%)

(4) S. Wayne Kay (CEO) : 6,700 common shares (0.0
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SOURCE Response Biomedical Corp.
Copyright©2008 PR Newswire.
All rights reserved

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