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Algeta to Present Phase II Clinical Study Data for Alpharadin in,Prostate Cancer at ASCO

OSLO, Norway, 30 May 2007 - Algeta ASA (OSE: ALGETA), the Norwegian cancer therapeutics company, announces that Professor Øyvind Bruland, of the Norwegian Radium Hospital, Oslo and founder of Algeta, will present a Poster and Discussion entitled, "Radium-223 in the treatment of metastatic hormone refractory prostate cancer (HRPC): Results from a randomized, placebo-controlled, phase II study," at the American Society of Clinical Oncology's annual meeting (1-5 June 2007, Chicago, USA).

The Poster Discussion Session, which is part of the Genitourinary (Prostate) Cancer session, will be held between 5pm - 6pm, Central Daylight Time (CDT) on Saturday 2 June in the E Arie Crown Theater and the Poster (number 19) will be available to view between 2pm - 6pm CDT on Saturday 2 June at Room number E451a.

The data to be presented demonstrate positive results, including significant survival data, from a randomized, placebo-controlled Phase II clinical trial of Algeta's lead product Alpharadin(TM) in patients with late-stage hormone-refractory prostate cancer (HRPC).

The poster will be available to download on www.algeta.com on Monday, June 4 2007.

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For further information, please contact

Dr. Thomas Ramdahl, CEO +47 23 00 79 90 / +47 913 91 458 (mob) Dr. Roger Harrison, CBO +47 23 00 79 90 / +47 484 01 302 (mob) Geir Christian Melen, CFO +47 23 00 79 90 / +47 913 02 965 (mob) post@algeta.com

Dr. Mark Swallow / Helena +44 (0)207 638 9571 Galilee mark.swallow@citigatedr.co.uk Citigate Dewe Rogerson

About Algeta

Algeta ASA (www.algeta.com) is a Norwegian cancer therapeutics company built on world-leading, proprietary technology.<
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