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XTL Biopharm Ltd (XTL)

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Tuesday 03 July, 2001

XTL Biopharm Ltd

Research Update

XTL Biopharmaceuticals Limited
3 July 2001




            - Third Monoclonal Antibody in Clinical Development -

Rehovot, Israel and New Hampshire, US, 3 July 2001 - XTL Biopharmaceuticals
Ltd. (LSE: XTL) today announced the commencement of Phase I clinical studies
with XTL-002, its human monoclonal antibody (mAb) being developed for the
treatment of hepatitis C virus (HCV) infections.  The study, being conducted
in Israel, is expected to enroll 15 patients and is designed to test safety,
tolerability and changes in viral levels in chronic hepatitis C patients. The
trial is being conducted following Food and Drug Administration (FDA, United
States) and Ministry of Health (Israel) approvals.

XTL-002 is a fully human high-affinity monoclonal antibody which was shown to
reduce viral levels of the HCV virus in XTL's proprietary in vivo model. The
Company's HCV TrimeraXTL model is being used in conjunction with a variety of
corporate and academic partners to screen and evaluate novel compounds to
treat HCV.

HCV is a major cause of chronic hepatitis in the United States and is a
leading cause of liver transplantation.  An estimated 4 million individuals
are infected with HCV in the United States and the World Health Organization
estimates that 170 million people are infected worldwide.  Approximately 85%
of HCV infected persons will develop chronic hepatitis, of which 20% will
progress to liver cirrhosis.  The number of deaths attributable to HCV is
expected to triple in the next 10 to 20 years.

Martin Becker, Ph.D., President and Chief Executive Officer of XTL, said:

'This is our third monoclonal antibody and second clinical programme to enter
human studies for the treatment of viral hepatitis, clearly establishing XTL
as a leader in the discovery and development of therapeutics for these
life-threatening chronic diseases.'


XTL Biopharmaceuticals Ltd                      Tel:   +972 (0) 894 05134
Dr Martin Becker, Chief Executive Officer
Jonathan Burgin, Chief Financial Officer

Financial Dynamics                              Tel:    +44 (0) 20 7831  3113

Jonathan Birt / Sarah Mehanna

XTL Biopharmaceuticals, Inc. (USA)              Tel:   +1- 603-878-9857
Glenn Kazo, General Manager & Chief Business

Notes to Editors

XTL Biopharmaceuticals develops novel therapeutics to treat life-threatening
infectious diseases using fully human monoclonal antibodies and small molecule
drugs.  XTL's competitive advantage lies in its ability to leverage both its
proprietary human tissue-based in vivo disease models and fully human
monoclonal antibodies to validate and develop promising drug candidates.  The
Company's growing pipeline of therapies, designed to combat chronic viral
infections, drug-resistant bacteria and serious systemic fungal infections,
comprises internally developed products as well as those being co-developed
with a number of biopharmaceutical partners.  For more information about XTL,
visit the Company's web site at