AGI Therapeutics plc Announces Appointment Of Chief Financial Officer

Dublin, Ireland, 20th April 2006 - AGI Therapeutics plc ("AGI" or the "Company"), a speciality pharmaceutical company focused on gastrointestinal drug products, today announces the appointment of Mr. David G. Kelly as director and Chief Financial Officer. Mr. Kelly’s appointment will be effective as of 2 May 2006.

Mr. Kelly, a Chartered Accountant, was most recently Senior Vice President of Warner Chilcott plc, (formerly Galen Holdings plc), a Northern Ireland based fully integrated specialty pharmaceutical company that was listed on the London and Irish Stock Exchanges. Warner Chilcott was acquired by a syndicate of private equity investors in early 2005 for approximately £1.6 billion. Mr. Kelly also served as acting Chief Financial Officer of Warner Chilcott during its successful IPO on Nasdaq in 1997, prior to Warner Chilcott’s acquisition by Galen in 2000. Previous to that, Mr. Kelly worked for Elan Corporation plc and KPMG, the international accounting firm.

Commenting on the appointment of Mr. Kelly, Dr. John Devane, Chief Executive Officer of AGI, said:

"I am delighted to be able to announce the appointment of David Kelly as Chief Financial Officer and director of AGI. At the time of our admission to the AIM and IEX markets we indicated our desire to recruit a permanent Chief Financial Officer and I am pleased that we have now been able to complete the process. The addition of someone of this calibre and wealth of experience to the AGI management team is a major event for the Company. David brings a substantial track record in financial management in both the US and European public markets and we look forward to his playing a leading role in the financial and strategic development of our business.”

There are no details that are required to be disclosed under Schedule 2, paragraph (g) of the AIM and IEX Rules.

Contact Information

AGI Therapeutics Tel: +353 9064 71455 Patrick Ashe, Senior VP, Business Development

Financial Dynamics – UK Tel: +44 (0) 20 7831 3113 Sarah MacLeod

Financial Dynamics - Ireland Tel: +353 1 663 3607 Aisling Garvey

For further information please see www.agitherapeutics.com

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