Alta Genetics Closes Private Placement.

CALGARY, Alberta--(BUSINESS WIRE)--Oct. 1, 1997--Alta Genetics Inc. (TSE:AGI.) announced today that it has closed a previously announced private placement with Francois Dekker for $2,300,000, representing the purchase of 500,000 common shares of Alta Genetics Inc. at $4.60 per share. The proceeds from the private placement will be used to strengthen the company's capital structure and for working capital and planned capital expenditures. The private placement represents approximately 10 percent of the current outstanding common shares of Alta Genetics Inc. which at year end 1996 totaled 4,989,237 common shares (7,631,237 fully diluted).

Dekker has acquired the securities for investment and has no current intention of increasing his holdings in Alta Genetics Inc.

Dekker is well known in the livestock industry having owned and operated a number of businesses in Switzerland, the United States, Germany and the Netherlands dealing with live cattle, embryos and semen exports. These businesses were sold in 1993. Dekker resides in Switzerland and has a number of additional investments in non-related businesses.

Alta Genetics Inc. is engaged in the production, research and marketing of products and services based on cattle genetics. The company specializes in bull semen, cow embryos, live cattle and reproductive technologies. Research is focused on the application of technology to maintain the company's worldwide reputation for quality genetics. In 1996, over two thirds of the company's revenues were derived from products exported to over 50 countries. Common shares of Alta Genetics Inc. trade on The Toronto Stock Exchange under the symbol "AGI".

CONTACT: Alta Genetics Inc.

Douglas G. Blair, 403/239-8882

403/241-4524 (FAX)

or

Alta Genetics Inc.

Donald B. Dufault, 403/226-4238

403/226-4259 (FAX)