~European Union Issues Labeling Regulations for Phytosterol Ingredients~
Vancouver, Canada. Forbes Medi-Tech Inc. (TSE:FMI and NASDAQ:FMTI) today announced that the European Commission has published regulations concerning the labeling of foods and food ingredients with added phytosterols, phytostanols or their respective esters. The regulation will allow consumers to choose different food formats containing phytosterol ingredients, including Forbes' cholesterol-lowering ingredient Reducol(tm). The recommended intake of phytosterols/stanols is within a range of 1 to 3 grams per day. Forbes announced in December 2003 that its non-genetically modified(GMO), cholesterol lowering food ingredient, Reducol(tm), was accepted for use in foodstuffs by the European Food Safety Authority (EFSA) as the first of a three step approval process. The second step is this publication of labeling regulations with the third and final step being the approval of
Reducol(tm) in specific food matrices.
"These regulations bring Forbes within one step of selling Reducol(tm) in Europe," said Charles Butt, President and CEO of Forbes Medi-Tech Inc. "With a demonstrated preference for non-genetically modified products, the European market represents a substantial opportunity for our cholesterol-lowering food ingredients."
About Phyto-Source, LP
Phyto-Source, LP is a 50-50 manufacturing joint venture between Forbes and Chusei (USA) Inc. located in Pasadena, Texas. The Phyto-Source facility is currently the world's largest wood sterol manufacturing plant capable of producing 1,000 metric tonnes annually to Good Manufacturing Practice (GMP) standards. In December 2003, Forbes Medi-Tech announced the expansion of its joint venture's manufacturing facility to increase production capacity by 50% to 1,500 metric tonnes based on the demand for phytosterol-based products.
About Forbes Medi-Tech Inc.
Forbes Medi-Tech Inc. is a biopharmaceutical company dedicated to the research, development and commercialization of innovative prescription pharmaceutical and nutraceutical products for the prevention and treatment of cardiovascular and related diseases. Forbes' scientific platform is based on core sterol technology. By extracting plant sterols from by-products of the forestry industry, Forbes has developed cholesterol-lowering agents for use in pharmaceutical compounds, functional foods and dietary supplements.
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