Navamedic to be listed on Oslo Børs Friday 31 March

Navamedic ASA has been informed that the Board of Oslo Børs (Oslo Stock Exchange) yesterday approved the Company’s application for a listing on the SMB list. The shares will be traded as of Friday 31 March 2006 under the ticker NAVA. In connection with the listing the company has prepared a prospectus, which is available on the Navamedic homepage at www.navamedic.com.

(Lysaker, Norway, 30 March, 2006) Navamedic ASA applied for a listing on the Oslo Børs on 1 March 2006, and the application was approved by the Board of Oslo Børs on 29 March. In connection with the listing, Navamedic ASA will hold a brief presentation at Oslo Børs after the opening ceremony on Friday 31 March at 09:00 CET.

-This is another important milestone for Navamedic as a company. We have an exciting period ahead, with a European roll-out of our product, and with the establishment of upstream production in order to capitalise on our proprietary glucosamine HCl production technology. We now also look forward to working with the investor community on a broader basis, says CEO Øyvind W. Brekke in Navamedic ASA.

Navamedic’s glucosamine HCl product for pain relief and improved function in patients with mild to moderate osteoarthritis has been approved in 20 European countries. With the establishment of its own chitin production and the proprietary ’Brekke-method’ for glucosamine HCl production, the company intends to become the first fully vertically integrated player in the glucosamine market.

Navamedic ASA raised NOK 30 million in a share issue in September 2005, which funds the company’s current expansion plans. The company did thus not issue any new capital in connection with the listing. Navamedic has more than 200 shareholders and a sufficient free float to meet the regulatory requirements.

About Navamedic ASA:
Navamedic is a Norwegian speciality pharmaceutical company focusing on the development and production of glucosamine HCl (hydrochloride) based medicines. Glucosamine is a generic active ingredient which relieves pain and improves function in patients with mild to moderate osteoarthritis. The product has a favourable safety profile. Osteoarthritis is a chronic disease which affects a large and growing share of the world’s population. Navamedic aims to become a leading company in the glucosamine industry, with a competitive advantage in proprietary production technology. The company’s products will be sold through a network of sales, marketing and distribution partners. Navamedic’s product Glucomed® has been approved as a medicine against osteoarthritis in 20 European countries. The product was launched in Sweden in December 2005, and Navamedic prepares product launches in further European countries in 2006.

Contact Information

Jon W. Ringvold

CFO

Navamedic ASA

Contact via E-mail