Vancouver, British Columbia
September 30, 1999

Nortran Pharmaceuticals Inc. announced today that it has filed its preliminary prospectus with the British Columbia, Ontario and Quebec securities commissions (the "Commissions") in connection with the Special Warrants financing announced on July 29, 1999, which closed on August 11, 1999. The proceeds of this financing are currently being held in escrow pending the Company obtaining receipts from the Commissions for a final prospectus.

The net proceeds of approximately $4.6 million from the financing together with the Company's current working capital provide sufficient funds for the Company's operating activities over the next two years. These proceeds will be used for general corporate purposes and to support the Company's ongoing research and development, primarily in the areas of antiarrhythmic drugs and acute cough suppressants.

Nortran Pharmaceuticals is a commercially-focused drug discovery company. Using pathology-targeted molecules, Nortran focuses on developing treatments for serious medical conditions and illnesses affecting large numbers of people. Nortran's current drugs in development target life-threatening arrhythmias of the heart, acute cough and pain management.

ON BEHALF OF THE BOARD
Bob Rieder
Chief Executive Officer

Company Contact
Sue Milne
Investor Relations