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XTL Biopharm Ltd (XTL)

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Thursday 18 November, 2004

XTL Biopharm Ltd

CEO to step down 1 Jan 05

XTL Biopharmaceuticals Ltd
18 November 2004

Chief Executive Officer to step down effective from 1 January 2005

Search currently underway for successor

Rehovot, Israel, 18 November 2004: XTL Biopharmaceuticals Ltd. (LSE: XTL)
('XTLbio' or the 'Company') announced today that its Chief Executive Officer and
President, Martin Becker, Ph.D., informed the Board of Directors that he intends
to step down from leadership of the Company on 1 January 2005. The process of
seeking a successor to Dr. Becker has commenced and the Board expects to
conclude the appointment of a successor early in 2005, until which time Elkan
Gamzu, Ph.D., currently a Non-Executive Director, will act as interim CEO, if

Martin Becker said, 'It has been a privilege to work with such dedicated and
talented people over the last ten years and very exciting and rewarding to see
the Company develop from its early stages through its IPO, clinical trials,
commercial licensing deals and recent fundraisings. I think the time is now
right for a change of leadership to transition the Company from a development
organization to a commercial enterprise.'

Geoffrey Vernon, Ph.D., Chairman of XTLbio, said, 'I would like to thank Marty
for the many years of service and for leading the business through recent years
of significant progress including the Company's public listing in London, the
commercial out-licensing of one of our lead products and a recent fundraising
this summer which sets us up well for 2005 and beyond. We all wish Marty every
success in his future endeavors.'

Commenting on Dr. Gamzu's appointment as interim CEO, the Chairman added, ' Dr.
Gamzu has been on the board since 1998 and brings an extensive knowledge of the
Company's operations and over 30 years' experience in the pharmaceutical
industry, which includes working in drug discovery and drug development at major
multinational companies as well as leading, as CEO, a NASDAQ listed company. I
am confident that he will serve the business well until a permanent successor is


Dr. Geoffrey Vernon, Chairman              Tel: +44 7971 475 050
Ronen Kantor                               Tel: +972 3 613 3371
Financial Dynamics
Julia Phillips                             Tel: +44 (0) 20 7831 3113

About XTLbio

XTL Biopharmaceuticals Ltd. (XTLbio) is a biopharmaceutical company developing
drugs against hepatitis. XTLbio's HepeXTM product line - now in clinical trials
- has the potential to introduce revolutionary therapies for viral hepatitis,
including prevention of re-infection in transplanted livers, the Company's
primary focus, and a longer-term cocktail approach in treating chronic illness.
XTLbio believes its primary competitive advantage lies in its patented TrimeraTM
technology, which enables the development of fully human monoclonal antibodies
and models of human disease for pre-clinical drug validation. Established in
1993, XTLbio became a public company in 2000 and its shares are listed on the
Official List of the UK Listing Authority and are traded on the London Stock
Exchange under the symbol XTL.

                      This information is provided by RNS
            The company news service from the London Stock Exchange