New Joint Venture strengthens Nutri Pharma

Oslo, February 6, 2001

Nutri Pharma (OSE: NUT), a global leader in functional foods and beverages, today announced that it has entered into a new Joint Venture with Nycomed Pharma.

Increased focus on Nutrilett in existing markets
As part of the Joint Venture, and resulting from Nutri Pharma’s leading edge R&D on how to make use of soy ingredients in the fight against lifestyle related diseases like elevated cholesterol levels, obesity and type 2 diabetes, the Nutrilett product range will be given dedicated marketing focus throughout the Nordic region.

Combining Nutri Pharma’s scientific expertise and Nycomed Pharma’s strong sales- and distribution network, the Joint Venture will increase market penetration and provide a forceful vehicle for servicing outlets in the existing markets. Further it will enable and add to the future success of introducing the Nutrilett product range in Denmark, and eventually the Baltic States and CIS.

Explore launch of Nutrilett into new food categories
Parallel with the increased focus on existing Nutrilett products the companies will explore launch of new Nutrilett products, for example in drink- and cereal-based food categories.

J/V provides a vehicle for other potential launches such as Abacor
The J/V is further intended as the vehicle to launch Abacor food supplement in Scandinavia. Abacor food supplement is Nutri Pharma’s clinically tested and proven, cholesterol lowering ingredient. Abacor food supplement was recently introduced at the Swedish Medical Convention, and with considerable interest.

"This is an important cross-road for Nutri Pharma. The Joint Venture opens up a multitude of opportunities, and gives us and Nycomed a vehicle to exploit," says Michael Oredsson, CEO of Nutri Pharma. "Not only will the current Nutrilett range get a stronger market push - this joint venture opens up possibilities for a broadening of the Nutrilett range, launches of new products based on our technology, such as Abacor, and launches in the Baltics and CIS. Additionally the joint venture gives Nutri Pharma access to larger parts of the value creation from Nutrilett. We expect the new combination to contribute substantially to the company’s revenue and future earnings.

Nutri Pharma is a global leader in functional foods and beverages, developing and marketing innovative functional food ingredients and products, all based on the company’s proprietary soy technology. The products cure and prevent lifestyle-related diseases, such as elevated cholesterol level, obesity and type 2 diabetes. Nutri Pharma is listed on the main list at the Oslo Stock Exchange and has its headquarters in Copenhagen. Nutri Pharma also have offices in Norway, Sweden, USA, England and Germany.

For further information, please contact:

Michael Oredsson, CEO Nutri Pharma ASA.TEL: +45 3338 4000
David Speechly, PhD, MBA. Noonan/Russo Ltd.TEL: 0171 726 4452