Press Releases

BioMS Medical Announces Its Intention to Renew a Normal Course Issuer Bid

Edmonton, Alberta, August 12, 2004 – BioMS Medical Corp (TSX: MS), a leading developer in the treatment of multiple sclerosis (MS), announced today that, it is renewing its normal course issuer bid. Under the bid, which will be conducted pursuant to the rules of the Toronto Stock Exchange (“TSX”), the Company may purchase up to 200,000 of its Class A common shares (the “Common Shares”) representing approximately 0.4% of the Company's issued and outstanding Common Shares.

The bid will commence August 15, 2004 and will expire August 14, 2005 or such earlier date as the Company may complete its purchases. The price at which the Company will purchase its shares will be the market price thereof at the time of acquisition. Purchases of Common Shares will be made in the open market through the facilities of the TSX. Any Common Shares acquired by the Company will be cancelled. The Company has 51,859,466 Common Shares issued and outstanding as of August 12, 2004. During the previous 12-months, the Company acquired 117,200 of its Common Shares at an average price of $3.30 per share by way of a normal course issuer bid.

“The primary purpose of the normal course issuer bid is to provide market stability for the Company's Common Share,” said Clifford Giese, Chairman of BioMS Medical. “The Company believes that its Common Shares may be undervalued from time to time and may not fully reflect the value of the Company's business and its future business prospects."

This press release may contain forward-looking statements, which reflect the Corporation’s current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation’s ongoing quarterly and annual reporting. Certain of the assumptions made in preparing forward-looking statements include but are not limited to the following: that dirucotide (MBP8298) will continue to demonstrate a satisfactory safety profile in ongoing and future clinical trials; and that BioMS Medical Corp. will complete the respective clinical trials within the timelines communicated in this release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.