VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2008) - Forbes Medi-Tech Inc. (TSX:FMI ; NASDAQ:FMTI ; NASDAQ:FMTID - News) today announced that Fiave of Italy, one of the country's premium dairy producers, has launched a yogurt drink containing Forbes' cholesterol-lowering ingredient, Reducol(TM). The launch marks the first brand name product launch in Europe featuring Reducol(TM).
"Fiave's history of producing some of Italy's finest dairy products, combined with their existing distribution channels, makes them an ideal partner to help us continue to build the Reducol(TM) brand," said Charles Butt, President and CEO of Forbes Medi-Tech. "Our strength in customer service and product development culminating in this product launch, is a clear example of our ability to meet the needs of consumers in all categories, including the growing functional foods products marketplace."
The premium brand yogurt will be distributed to major food retailers in Italy. Fiave has invested significant time and capital in advanced technology machinery and a state of the art plant to support the launch of Reducol(TM) based products. Once distribution has been established in Italy, Fiave will look to expand availability to other European customers.
"We are committed to building a futuristic dairy specialized in functional food with applications in a variety of products such as yogurt and Italian cheeses," said Giorgio Gosetti, General Manager of Fiave. "Combining Reducol(TM) and our premium products will provide consumers with both great tasting products and unique health benefits."
Fiave will provide a regular supply of high quality, Non-GMO milk from the region of Trentino for the yogurt drink. In addition to the products distinct advantages, full online traceability of the products through Farmtrack® at www.farmtrack.info will provide professionals and consumers alike with thorough information of what they are eating and where they originate.
Reducol(TM) is a unique ingredient containing plant sterols and stanols, commonly known as phytosterols, or "sterols". The combination of a prudent diet and consumption of products containing the recommended amount of Reducol(TM) may help consumers lower their cholesterol by up to 24%. Additional information on Reducol(TM) can be found at www.reducol.com.
Founded in 1892 by a group of milk stock farmers of Fiave, the first production core consisted of a time-share cheese factory. In a private-room, each provider in turn processed his own milk and that of the other providers, taking home his daily output of cheese and butter. The transformation into a cooperative occurred in 1948. Since then, the cheese factory has gradually acquired, by spontaneous membership, milk producers coming from the areas and villages of the Giudicarie valleys and has also aggregated other cooperatives working in the same sector. The numerical growth of the provider partners and the continuous increase in quantity of milk produced on the one hand has brought about the need to expand the original structure, and on the other has allowed to collect under a single company name different types of experiences and of products but of high added value. There are 230 farms associated in the cooperative.
About Forbes Medi-Tech Inc.
Forbes Medi-Tech Inc. is a life sciences company dedicated to the research, development and commercialization of innovative products for the prevention and treatment of life-threatening disease. Our strategy and vision is to develop and market a portfolio of products for the benefit of all consumers, from the healthy person desiring consumer lifestyle products that can help reduce the risk of future disease, to medical patients needing therapeutic prescription products for the treatment of an established ailment. Additional information on Forbes Medi-Tech can be found at www.forbesmedi.com.
Forbes Medi-Tech ("Forbes" or the "Company") has relied solely on Fiave for the information about Fiave provided in this News Release and the Company disclaims any liability with respect to such information. Forbes disclaims responsibility for information contained in any linked or referenced website, and such links and references do not constitute an endorsement by Forbes of those or any other website. This News Release contains forward-looking statements and information regarding Reducol(TM), products incorporating Reducol(TM), and Forbes' strategy and vision, which statements can be identified by the use of forward-looking terminology such as "will", "look to expand", "committed to building", "strategy" and "vision". The Company's actual results could differ materially from those anticipated in these forward-looking statements and information as a result of numerous factors, including the Company's need for funding in the near term, the availability and sufficiency of which is not assured; market risks; intellectual property risks; manufacturing risks; product liability and insurance risks; the need for performance by Fiave and its customers; the effect of competition; changes in business strategy or development plans; uncertainty whether the Company will realize its strategies and vision; and other risks and uncertainties, as contained in news releases and filings with Securities Regulatory Authorities in Canada and the U.S. at www.sedar.com and at www.sec.gov, any of which could cause actual results to vary materially from current results or the Company's anticipated future results. Forward-looking statements and information are based on the assumptions, beliefs, opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update any statement should those assumptions, beliefs, opinions or expectations, or other circumstances change.
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