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XTL Biopharm Ltd (XTL)

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Tuesday 01 August, 2006

XTL Biopharm Ltd

Statement re passing of Jonathan Spicehandler, MD


XTL Biopharmaceuticals Grieves the Death of Board Member Jonathan Spicehandler, MD                                       
New York, NY, August 1, 2006 - XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB; LSE:
XTL; TASE: XTL) mourns the loss of board member Jonathan Spicehandler, MD. Dr.
Spicehandler passed away on July 30, 2006, after a long battle with brain
cancer.

A member of XTL's board since February 2005, Dr. Spicehandler had an
illustrious pharmaceutical career, most recently serving as Chairman of
Schering-Plough Research Institute, the pharmaceutical research arm of
Schering-Plough Corporation. Dr. Spicehandler was a prolific researcher and
played a leading role in the development and approval of several, important
drugs that are used today to treat millions of people.

"We are deeply saddened by the untimely passing of Jonathan Spicehandler" said
Ron Bentsur, CEO of XTL. "His leadership and experience, and above all,
friendship, will be sorely missed. Jonathan will continue to be an inspiration
to all of us. Our deepest condolences go out to his wife and children."

Contact:

Ron Bentsur

Chief Executive Officer

(212) 531-5960

rbentsur@xtlbio.com