Gastrointestinal Licensing Agreement with Procter & Gamble

December 12, 2005

Alimentary Health Ltd

Alimentary Health Ltd (AH), a biotechnology company based in Cork, Ireland today announced that it has signed a worldwide licensing agreement with The Procter & Gamble Company (NYSE:PG) for Gastrointestinal (GI) indications.

AH was established in 1999 and is a leader in pioneering the development of safe and effective therapeutics for GI and other indications. 'This deal is the culmination of a close working partnership with P&G over a number of years and will transition us into a revenue generating company' says Barry Kiely, CEO of AH, 'we are proud to be associated with such a leading multi-national company'.

"P&G is excited about the opportunity to formalise our work with Alimentary Health and continue our collaboration with such a leading edge company," said Rowena Pullan, Director, Global Personal Health Care Research and Development.

GI disorders are common and the treatment of GI diseases constitutes one of the largest pharmaceutical markets in the world with an annual market in excess of $20 billion.

About Alimentary Health
Alimentary Health is a development stage specialty biotechnology company linked to the Alimentary Pharmabiotic Centre based at University College Cork, Cork, Ireland. Alimentary Health is focused on the discovery, development and commercialization of proprietary treatments for gastrointestinal disorders and other inflammatory conditions.

About P&G

Three billion times a day, P&G brands touch the lives of people around the world. The company has one of the strongest portfolios of trusted, quality, leadership brands, including Pampers®, Tide®, Ariel®, Always®, Whisper®, Pantene®, Mach3®. Bounty®, Dawn®, Pringles®, Folgers®, Charmin®, Downy®, Lenor®, Iams®, Crest®, Oral-B®, Actonel®, Duracell®, Olay®, Head & Shoulders®, Wella, Gillette®, and Braun. The P&G community consists of almost 140,000 employees working in over 80 countries worldwide. Please visit www.pg.com for the latest news and in-depth information about P&G and its brands.

About APC

The Alimentary Pharmabiotic Centre (APC) is a Science Foundation Ireland (SFI) funded research centre headquartered in University College Cork (UCC), with scientists and clinicians also based in Teagasc Moorepark, Cork University Hospital and Alimentary Health Ltd. The APC is investigating mechanisms by which intestinal bacteria influence health and disease and is developing new therapies for lifelong debilitating gastrointestinal diseases such as gastroenteritis, ulcerative colitis and Crohn's disease.
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