Exiqon A/S issues new warrants to the company’s managers and five key employees

Exiqon A/S issues new warrants to the company's managers and five key employees

The supervisory board of Exiqon A/S has today 25 September 2008 resolved to
issue 530,268 warrants to the executive management of Exiqon A/S and 230,000
warrants to employees in Exiqon A/S and in Exiqon A/S' American subsidiary
Oncotech Inc. All warrants have been issued in accordance with the
authorization granted in article 3c of the articles of association, and in
accordance with the overall guidelines for incentive schemes for the
supervisory board and executive board of Exiqon A/S adopted at Exiqon A/S'
extraordinary general meeting held on 31 January 2008. 

The warrants issued entitle the warrant holders to subscribe for up to nom. DKK
760,268 shares of DKK 1.00 each in Exiqon A/S, and the supervisory board has at
the same time resolved to increase the Exiqon A/S' share capital accordingly. 

The exercise price for the issued warrants is DKK 26 per warrant which
corresponds to the average closing price of the Company's shares in the last
five trading days up to and including 24 September 2008, plus 5% per year. 

Of the warrants issued one thirty-sixth (1/36) hereof are vested as from the
first day of the calendar month following the date of issuance of these
warrants. Another one thirty-sixth (1/36) of these warrants are vested as from
the first day of each new calendar month until all of these warrants have
become vested. Unexercised warrants become null and void after expiry of the
first exercise period following 36 months after allocation. 

The resolution of the supervisory board has been included in article 3c5 of the
company's articles of association 


See attached pdf document.