Karo Bio’s Annual General Meeting

KARO BIO’S ANNUAL GENERAL MEETING

At Karo Bio AB’s Annual General Meeting on Wednesday April 21, 2004 the
following was resolved.

Dividend
No dividend is to be paid for the financial year 2003.

Board of Directors
Johan Claesson re-election
Dana M. Fowlkes re-election
Lars Ingelmark re-election
Ulla Litzén re-election
Per-Olof Mårtensson re-election
Björn Nilsson re-election
Leon E. Rosenberg re-election
John D. Baxter deputy, re-election
Jan-Åke Gustafsson deputy, re-election

At the Board Meeting following the Annual General Meeting, Per-Olof
Mårtensson was elected Chairman of the Board.
Nomination Committee
The Meeting resolved that the three largest shareholders, not being
represented in the Board of Directors, shall appoint one representative
each, which together with the Chairman of the Board shall be members of
the nomination committee in respect of the 2005 annual general meeting.
The representatives shall be appointed and announced no later than in
conjunction with the company’s quarterly report for the third quarter
2004.

Huddinge, April 22, 2004

KARO BIO AB (publ)

For further information, please contact
Björn Nilsson, President and CEO, phone +46 8 608 60 20
Bertil Jungmar, Chief Financial Officer, phone +46 8 608 60 52

Facts about Karo Bio
Karo Bio has operations in Sweden. The Company employs 95 people.
Karo Bio has been listed on the Stockholm stock exchange (Reuters:
KARO.ST) since 1998 and maintains a leading position in the field of
drug discovery focused on nuclear receptors. Nuclear receptors are
validated drug targets for a number of clinical indications and the
Company uses proprietary technologies for the development of novel and
improved therapies for major markets.
Karo Bio has drug discovery programs in several therapeutic areas
including men and women’s health care, metabolic disorders such as
obesity, cardiovascular disease, diabetes, dermatology and
ophthalmology.
Karo Bio collaborates with major pharmaceutical companies for
development of products and marketing. In these collaborations Karo Bio
receives upfront payments, R&D funding, milestone payments as well as
royalties on net sales when products reach the market.
Karo Bio has strategic pharmaceutical drug discovery collaborations with
Bristol-Myers Squibb, Merck & Co., Inc. and Wyeth Pharmaceuticals.

This press release is also available on www.karobio.com and
www.waymaker.net

————————————————————
This information was brought to you by Waymaker https://www.waymaker.net
The following files are available for download:
https://www.waymaker.net/bitonline/2004/04/22/20040422BIT00160/wkr0001.doc
https://www.waymaker.net/bitonline/2004/04/22/20040422BIT00160/wkr0002.pdf