Forbes Medi-Tech Inc.: Company Completes Regulatory Filing; Filing Pursuant to Information Made Public in April 2004

Business Wire, Oct 1, 2004

VANCOUVER, British Columbia -- Forbes Medi-Tech Inc. (NASDAQ:FMTI) (TSX:FMI) today announced that the audited financial statements of the Company for the year ended December 31, 2003 were filed on SEDAR and EDGAR and were distributed as required by applicable securities regulations in April 2004 (see the Company's press release dated April 20, 2004). These financial statements were prepared in accordance with Canadian GAAP, and were audited by the Company's auditors, KPMG LLP, in accordance with Canadian generally accepted auditing standards and auditing standards generally accepted in the United States of America. The financial statements also contained a note reconciling the statements to U.S. GAAP.

NASDAQ has recently informed the Company that pursuant to NASDAQ'S Marketplace Rule 4350(b)(1)(B), the Company must make a separate public announcement disclosing that the "Comments By Auditor For U.S. Readers On Canada - U.S. Reporting Difference" included by KPMG LLP with the Company's audited financial statements was, according to Nasdaq, a going concern audit opinion qualification. The Company's financial statements fully comply with Canadian GAAP and no alteration or amendment is required to any financial filings.

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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