Issue of Equity

ValiRx PLC
18 July 2007

                                   ValiRx plc



                                (the 'Company')



                                Issue of equity



The Company announces that it has issued 1,400,000 new ordinary shares of 0.2p
each in the Company ('Ordinary Shares') pursuant to the convertible loan stock
instrument entered into by the Company on 9 November 2005 (the 'Convertible 
Loan'). The Convertible Loan has now converted in full.



Application has been made for the new Ordinary Shares to be admitted to trading
on AIM and dealings are expected to commence on 24 July 2007.



Following the issue of new shares under the Convertible Loan, the Company has
886,591,389 Ordinary Shares in issue.



For further information please contact:


        ValiRx plc                    WH Ireland                      GTH Communications
     Dr Satu Vainikka               David Youngman               Toby Hall / Jade Mamarbachi
   [phone]          [phone]                [phone]




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