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XTL Biopharm Ltd (XTL)

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Thursday 06 July, 2006

XTL Biopharm Ltd

Formal Notice

                         XTL BIOPHARMACEUTICALS, LTD.                          
                          ANNOUNCES MANAGERIAL CHANGE                          

New York, NY, July 6, 2006 - XTL Biopharmaceuticals, Ltd. (Nasdaq: XTLB, LSE:
XTL, TASE: XTL) today announced that as part of the on-going process to
consolidate key managerial positions, Mr. Jonathan Burgin, Chief Financial
Officer, will depart the Company effective today. Bill Kessler, the Company's
Finance Director, will become Principal Financial and Accounting Officer for
financial and compliance reporting purposes.

Commenting on Mr. Burgin's departure, Ron Bentsur, XTLbio's Chief Executive
Officer, said, "Jonathan is a consummate professional and on behalf of the
Company, I want to thank him for 7 years of dedicated service to XTLbio. I wish
him much success in his future endeavors."

About XTL Biopharmaceuticals, Ltd.
XTL Biopharmaceuticals Ltd. ("XTLbio") is engaged in the acquisition,
development and commercialization of therapeutics for the treatment of
infectious diseases, with a focus on hepatitis C. XTLbio is developing XTL-2125
- a small molecule, non-nucleoside inhibitor of the hepatitis C virus
polymerase - presently in Phase 1 clinical trials in patients with chronic
hepatitis C. XTLbio is also developing XTL-6865 - a combination of two
monoclonal antibodies against the hepatitis C virus - presently in Phase 1
clinical trials in patients with chronic hepatitis C. XTLbio's hepatitis C
pipeline also includes several families of pre-clinical hepatitis C small
molecule inhibitors. In addition, XTLbio has out-licensed to Cubist
Pharmaceuticals an antibody therapeutic against hepatitis B, HepeX-B, which has
recently completed a Phase 2b clinical study in hepatitis B liver transplant
patients. XTLbio is publicly traded on the Nasdaq, London, and Tel-Aviv Stock

Ron Bentsur
Chief Executive Officer
(212) 531-5971
[email protected]


   XTL Biopharmaceuticals Ltd. Kiryat Weizmann Science Pk, Bldg 3, POB 370,    
        Rehovot 76100, Israel Tel: +972-8-930-4444 Fax: +972-8-930-4445        


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