The Annual General Meeting in PhotoCure ASA took place on 15 April 2004. The General Meeting approved the Directors' Report and the Annual Accounts, as well as the Board of Directors' proposed settlement of the deficit of 2003.  Except for Birgit Stattin Norinder, all directors of the board were to be elected. All directors were reelected and the new Board of Directors of PhotoCure ASA consists of: Erik EngebretsenPer-Olof MårtenssonHalvor BjerkeLars LindegrenBirgit Stattin Norinder The Annual General Meeting decided to establish a Nomination Committee to nominate candidates to the Board of Directors for election at the Ordinary General Meeting of the Shareholders. The Nomination Committee shall consist of three members that represent the shareholders. The two largest shareholders should be represented.  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 treatment and diagnosis of cancer and precancerous conditions. The company develops products for different internal cancers, skin cancer and other skin diseases. Metvix is developed for the treatment of basal cell carcinoma (skin cancer) and actinic keratosis (precancerous skin lesions) and is under development and documentation for several other skin diseases. PhotoCure is responsible for sales and marketing of Metvix in the Nordic countries, while its licensee, the 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 under development for bladder cancer. A Marketing Authorisation Application (MAA) for Hexvix for detection of bladder cancer is filed in Sweden and Phase III studies are ongoing in the US.

PCI Biotech AS, a subsidiary of PhotoCure ASA, focuses on the opportunities for photochemical internalisation (PCI) in drug delivery, e.g. in novel cancer therapeutics and gene therapy.

PhotoCure, the PhotoCure logo, Aktilite, Metvix and Hexvix are trademarks or registered trademarks of PhotoCure ASA.

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