Forbes Appoints New Chief Financial Officer

~David Goold from Vizon SciTec Inc. Joins Forbes Medi-Tech Team~

Vancouver, BC -- Forbes Medi-Tech Inc. (TSX: FMI; NASDAQ:FMTI) today announced the appointment of David Goold, CA as Chief Financial Officer (CFO) of the Company. Prior to joining Forbes Medi-Tech, Mr. Goold held the position of Vice President and Chief Financial Officer for Vizon SciTec Inc., and its predecessor company BC Research Inc. for six years.

With BC Research, in addition to being part of the senior management of the consulting research and development business, he was involved in the creation and financing of three technology based entities. Mr Goold's previous experience includes Vice President, Finance for a publicly listed manufacturing company, and international experience with a California based clothing manufacturer and distributor. Mr.
Goold began his career at Price Waterhouse in 1980, working in their offices in Vancouver, BC and Johannesburg, South Africa.

Mr. Goold received his Bachelor of Commerce degree from the University of British Columbia in 1980 and has been a member of the Institute of Chartered Accountants of B.C. since 1982.

"David's experience in financing and partnership development will be a tremendous asset to Forbes, particularly to help meet our financial and strategic growth objectives," said Charles Butt, President and CEO, Forbes Medi-Tech.

"After reviewing the Company's revenue base and promising pharmaceutical development program, I am very encouraged by Forbes' growth potential," said Goold.

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.

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. This News Release contains forward-looking statements regarding the Company's assets, growth and objectives, which statements can be identified by the use of forward-looking terminology such as "will be", "objectives" and "potential". The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous factors, including without limitation, the Company's need for future financing, which may not be available on acceptable terms or at all; the need for regulatory approvals, the receipt of which cannot be assured; the need for continued cooperation and performance by the Company's joint venture partner, Chusei (USA) Inc.; the need to control costs and the possibility of unanticipated expenses and delays; research and development risks; the risk of technical obsolescence; intellectual property risks; marketing/manufacturing and partnership/strategic alliance risks; product liability and insurance risks; the effect of competition; and the need to attract and retain key management personnel; any of which could cause actual results to vary materially from current results or the Company's anticipated future results. See the Company's reports filed with the Canadian and U.S. securities regulatory authorities from time to time for cautionary statements identifying important factors with respect to the Company's forward-looking statements, including certain risks and uncertainties that could cause actual results to differ materially from results referred to in forward-looking statements. The Company assumes no obligation to update the information contained in this News Release.

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