The Annual General Meeting in PhotoCure ASA took place on 3 April 2003. The General Meeting approved the Directors' Report and the Annual Accounts, as well as the Board of Directors' proposed settlement of the deficit of 2002.  Åse Aulie Michelet and Tharald Brøvig have resigned from the Board of Directors. Birgit Stattin Norinder is elected as a new member of the Board. She is a trained pharmacist and is 54 years of age. She has held management positions in the international pharmaceutical companies Pharmacia & Upjohn, Glaxo Group Research, Astra and Pfizer. She has also served as CEO of Prolifix Ltd., a biotech company with a focus on oncology.The new Board of Directors of PhotoCure ASA now consists of: Erik Engebretsen, chairmanPer-Olof Mårtensson, deputy chairmanHalvor BjerkeLars LindegrenBirgit Stattin Norinder  In accordance with the proposals of the Board of Directors, the General Meeting also resolved to grant authority to the Board to increase the share capital and to acquire own shares.

PhotoCure ASA is a Norwegian listed company (Oslo Stock Exchange: PHO) that develops and sells pharmaceuticals and medical devices for photodynamic treatment of cancer and pre-cancerous conditions. The company develops products for internal cancer, skin cancer and other skin diseases. Metvix® PDT is developed for the treatment of basal cell carcinoma (skin cancer) and actinic keratosis (pre-cancerous skin lesions). PhotoCure is responsible for sales and marketing of Metvix® PDT in the Nordic countries, while global dermatology specialist, Galderma, is responsible for sales and marketing of Metvix® in the rest of the world. PhotoCure's second pharmaceutical product Hexvix® is developed for bladder cancer detection. A Marketing Authorisation Application (MAA) for Hexvix® is filed in Sweden and Phase III studies are ongoing in the US.

PCI Biotech AS, a subsidiary of PhotoCure ASA, is focused on the opportunities for photochemical internalisation (PCI) in drug discovery and delivery of novel cancer therapeutics.

For further information, contact:

PhotoCure ASA
Vidar Hansson, CEO
Hoffsveien 48
NO-0377 Oslo
Norway

www.photocure.com

E-mail: vh@photocure.no
Telephone: +47 22 06 22 10
Mobile: +47 90 73 78 72
Fax: +47 22 06 22 18