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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.< /p>

Algeta is developing new, targeted cancer therapeutics that harness the unique characteristics of alpha particle emitters and are potent, well-tolerated and convenient to use.

Algeta's lead product candidate, Alpharadin, is expected to enter Phase III clinical trials in hormone refractory prostate cancer based on positive Phase II results. Alpharadin is a novel bone-seeking therapeutic based on the alpha particle emitter radium-223 and may target skeletal metastases from multiple cancer types, as well as primary bone cancers.

Algeta is also developing other technologies for delivering alpha emitters. These include microparticles, liposomes, and methods to enhance the potency of therapeutic antibodies and other tumor-targeting molecules by linking them to the alpha particle emitter thorium-227.

The Company is headquartered in Oslo, Norway, and was founded in 1997. Algeta listed on the Oslo Stock Exchange in March 2007 (Ticker: ALGETA).

Alpharadin and Algeta are trademarks of Algeta ASA.

Forward-looking Statement

This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Algeta. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Theses factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to close viable and profitable business deals, the risk of non-approval of patents not yet granted and difficulties of obtaining relevant governmental approvals for new products


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