~UK's Largest Retailer Adds Strawberry Flavored Yogurt Drink to Range of Cholesterol-lowering Products~
Vancouver, Canada Forbes Medi-Tech Inc. (TSX:FMI and NASDAQ:FMTI) today announced UK's largest retailer, Tesco Stores Ltd (Tesco), has added to its successful range of cholesterol reducing dairy products by launching a strawberry flavored yogurt drink incorporating Forbes Medi-Tech's cholesterol-lowering ingredient, Reducol(tm). The strawberry flavored yogurt drink will be marketed under the Tesco private label brand and is the second Reducol(tm)-based product listing for Tesco in the yogurt drink category.
"With the continued success of cholesterol-lowering milk, spread, cheese, yogurts and yogurt drinks containing Reducol(tm), the range of Tesco functional dairy products continues to grow," said Kari Daniels, Category Director of Fresh Food at Tesco.
The strawberry flavored yogurt drink is officially the sixth different functional dairy product now available at UK based Tesco stores.
Today's announcement follows the successful launch of Heartfelt Plus Natural Cheese containing Reducol(tm) at UK based Tesco stores in August.
"The strong sales performance of the original flavor Reducol(tm)-based yogurt drink prompted the line expansion," said Jeff Motley, Vice President, Marketing & Sales of Forbes Medi-Tech Inc. "With the success of the initial product launch, we are strengthening the Reducol(tm) brand through increased shelf listings and great tasting alternatives for consumers who are committed to lowering their cholesterol through diet."
Anticipated revenue resulting from the launch of Reducol(tm)-based yogurt drinks is included in Forbes' 2006 revenue guidance.
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
About Tesco Stores Ltd
Tesco is the UK's largest retailer. Tesco has reached this position through its four-part strategy for growth:
1. Tesco focuses on a strong core UK business by offering customers excellent value, choice and convenience 2. Tesco aims to be as strong in non-food as it is in food 3. Tesco follows the customer into new areas of retailing services such as financial services (Tesco Personal Finance), internet shopping
(Tesco.com) and telephony (Tesco telecom).
4. Tesco wants to be an international retailer with a long term strategy for growth.
The Tesco Group reported GBP$37.1 billion in sales for FY2005. It has
2,318 stores and employs 326,000 people in the 12 countries in which it operates. In Europe, outside the UK, it operates in Ireland, Hungary, Poland, Czech Republic, Slovakia and Turkey where it has 261 stores and 55,000 employees. In Asia it has 179 stores and 34,000 employees across its businesses in Thailand, South Korea, Taiwan, Malaysia and Japan. It is the market leader in 6 of the countries it trades in. Wherever it operates it has one core purpose "Creating value for customers to earn their lifetime loyalty" and two values "No-one tries harder for customers"; "Treat people how we like to be treated" that directs how it operates.
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 cardiovascular disease (CVD). Our vision is to develop and market products along a treatment continuum that CVD savvy consumers, healthcare professionals and specialized CVD research and healthcare institutions will identify, recommend and seek.
Our business strategy is to develop and commercialize proprietary compounds to address the unmet needs of patients within the cardiovascular disease market.
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For more information, please contact:
Director, Investor Relations
Telephone: (604) 681-8976
E-mail: [email protected]
NASDAQ and the Toronto Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of the content of this News Release. Forbes Medi-Tech ("Forbes" or the "Company") has relied solely on Tesco Stores Ltd. for the information about Tesco Stores Ltd. 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 regarding Reducol(tm), products containing Reducol(tm), and the Company's strategy and vision, which statements can be identified by the use of forward-looking terminology such as "will", "continues", "strategy", "vision", "to develop" or comparable terminology referring to future events or results. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous factors, including the Company's reliance on Tesco Stores Ltd. for performance; the need to secure new customers which is not assured; uncertainty regarding market acceptance and demand for products containing Reducol(tm); uncertainty whether demand for Reducol(tm)-based products will continue to grow; product development risks; intellectual property risks; manufacturing, marketing and supply risks; product liability and insurance risks; uncertainty as to future sales volumes and pricing; the effect of competition; the need for regulatory approvals, which are uncertain; changes in business strategy or development plans; exchange rate fluctuations; and the Company's need for future funding; as well as a description of other risks and uncertainties affecting the Company and its business, as contained in news releases and filings with Securities Regulatory Authorities in Canada and the U.S., any of which could cause actual results to vary materially from current results or the Company's anticipated future results. Forward-looking statements are based on the 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 beliefs, opinions or expectations, or other circumstances change.