XTLbio AGM STATEMENT

Rehovot, Israel, 19 June 2003 - XTL Biopharmaceuticals Ltd. (XTLbio) announced
that at its Annual General Meeting (AGM) held today, resolutions 1, 2, 3, 4, 5,
6, 7, 8, 9, 10, 11 and 16 were passed and the existing Directors were
reappointed. Resolutions 12, 13, 14 and 15, relating to the grant of options to
the Executive Directors, and resolution 17, relating to the amendment of
pre-emptive rights, were withdrawn.

Dr. Geoffrey Vernon, Chairman of the Board of XTLbio, said, "We are grateful to
shareholders for the support they have shown at today's meeting. Having met
with a large number of the Company's shareholders in recent weeks, the Board
has taken note of a number of concerns raised and intends to take early action
to address those concerns, including the Company's current rate of
expenditure."

Contacts:

XTLbio

Dr. Martin Becker, President and CEO, Tel: +972-8-930-4440

Financial Dynamics

David Yates, Sarah MacLeod, Tel: +44 (0) 20 7831 3113



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