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XTL Biopharm Ltd (XTL)

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Monday 22 May, 2006

XTL Biopharm Ltd

Issue of Equity


XTL BIOPHARMACEUTICALS LTD. PUBLISHES PROSPECTUS FOR SECURITIES ISSUED PURSUANT
               TO THE PRIVATE PLACEMENT COMPLETED IN MARCH 2006                

New York, New York , May 22, 2006 - XTL Biopharmaceuticals Ltd., (NASDAQ: XTLB;
LSE: XTL; TASE: XTL) ("XTLbio"), a biotechnology company focused on the
acquisition, development and commercialization of therapeutics for the
treatment of infectious diseases, with a focus on hepatitis C, announced today
that it has published a prospectus with the United Kingdom Listing Authority in
relation to the issuance of 46,666,670 new ordinary shares under the private
placement that was completed in March 2006. A registration statement on Form
F-1 that was filed by XTLbio in April 2006 is expected to be declared effective
by the United States Securities and Exchange Commission later today. XTLbio
expects that the 46,666,670 new ordinary shares will be listed on the Official
List and be admitted to trading on the London Stock Exchange's market for
listed securities on Thursday, May 25, 2006. ADR's representing those ordinary
shares will begin to trade on Nasdaq thereafter.

ABOUT 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. XTL 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.
XTL 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, XTL 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. XTL is publicly
traded on the Nasdaq, London, and Tel-Aviv Stock Exchanges (NASDAQ: XTLB; LSE:
XTL; TASE: XTL).

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.

   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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