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XTL Biopharm Ltd (XTL)

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Wednesday 26 September, 2007

XTL Biopharm Ltd

XTL to Appeal NASDAQ Staff Determination


 XTL to Appeal NASDAQ Staff Determination; XTL May Transfer its ADR Listing to 
                           the NASDAQ Capital Market                           

Valley Cottage, New York, September 26, 2007 - XTL Biopharmaceuticals Ltd.
(NASDAQ: XTLB; LSE: XTL; TASE: XTL) today announced that on September 24, 2007,
the Company received a NASDAQ Staff Determination indicating that the Company
fails to comply with the minimum $10 million shareholders' equity requirement
for continued listing on the NASDAQ Global Market as set forth in Marketplace
Rule 4450(a)(3), and that its ADRs are, therefore, subject to delisting from
the NASDAQ Global Market. On August 28, 2007, the Company previously disclosed
the receipt of a Staff Letter from NASDAQ, regarding this deficiency in
shareholders' equity.

The Company has requested a hearing before a NASDAQ Listing Qualifications
Panel to review the Staff Determination. A hearing request will stay the
suspension of the Company's ADRs from the NASDAQ Global Market pending the
Panel's decision. There can be no assurance that the Panel will grant the
Company's request for continued listing. If the Panel does not grant the
Company's request for continued listing, the Company has the option to transfer
its ADR listing to the NASDAQ Capital Market, previously called the NASDAQ
SmallCap Market.

The NASDAQ Capital Market is a continuous trading market that operates in the
same manner as The NASDAQ Global Market. The NASDAQ Capital Market is not
related to, nor does it operate similarly to the over-the-counter markets
including the OTCBB and Pink Sheets. Should the Company transfer its ADR
listing to The NASDAQ Capital Market, its trading symbol on NASDAQ would remain
"XTLB," and the Company does not expect any interruption in the trading of its
ADRs.

The NASDAQ Capital Market includes over 500 issuers of a wide range of
capitalization sizes. A NASDAQ Capital Market security satisfies all applicable
qualification requirements for NASDAQ securities, and all companies listed on
The NASDAQ Capital Market must meet certain financial requirements and adhere
to NASDAQ's corporate governance standards.

ABOUT XTL BIOPHARMACEUTICALS LTD.

XTL Biopharmaceuticals Ltd. ("XTL") is engaged in the development of
therapeutics for the treatment of neuropathic pain and hepatitis C. XTL is
developing Bicifadine, a serotonin and norepinephrine reuptake inhibitor, for
the treatment of diabetic neuropathic pain. XTL is also developing several
novel pre-clinical hepatitis C small molecule inhibitors. XTL also has an
active in-licensing and acquisition program designed to identify and acquire
additional drug candidates. XTL is publicly traded on the NASDAQ, London, and
Tel-Aviv Stock Exchanges (NASDAQ: XTLB; LSE: XTL; TASE: XTL).

Contact:

Ron Bentsur, Chief Executive Officer

Tel: +1-(845)-267-0707 ext. 225

Cautionary Statement

Some of the statements included in this press release, particularly those
anticipating continued trading of the Company's ADRs on the NASDAQ Global
Market, the potential transfer of trading to the NASDAQ Capital Market, the
expected uninterrupted trading of the ADR, and the Company's ability to comply
with NASDAQ Capital Market listing requirements, may be forward-looking
statements that involve a number of risks and uncertainties. For those
statements, we claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform Act of 1995.
Risk factors that could adversely affect our operations are identified from
time to time in our reports filed with the Securities and Exchange Commission
and the London Stock Exchange, including our annual report on Form 20-F filed
with the Securities and Exchange Commission on March 23, 2007. Any
forward-looking statements set forth in this press release speak only as of the
date of this press release. We do not intend to update any of these
forward-looking statements to reflect events or circumstances that occur after
the date hereof. This press release and prior releases are available at 
http://www.xtlbio.com. The information in our website is not incorporated by reference
into this press release and is included as an inactive textual reference only.