Burt & Pucillo Announces Claims Deadline Approaches for Texas Biotech Unit Purchasers.

Business Editors/Legal Writers

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--April 24, 2000

Pursuant to an order of the United States District Court for the Southern District of New York, purchasers of Texas Biotechnology Corporation units (AMEX:TXB) ("Texas Biotechnology" or the "Company") in that Company's initial public offering on December 15, 1993 and in open market transactions through and including September 29, 1994 ("Class Members"), are advised that they have until May 5, 2000, to submit their claims for losses incurred on purchases of TXB Units during that period.

A settlement in the amount of $800,000 is currently under consideration for approval by the Court. Class Members who have not received a claim form, may do so by contacting David Berdon & Co. LLP at telephone [phone], or by writing to David Berdon & Co. LLP at the address below. Class Members may also obtain claim forms by contacting Plaintiffs' Counsel, Michael J. Pucillo, Burt & Pucillo, LLP, 515 North Flagler Drive, Suite 1701, West Palm Beach, FL 33401, telephone [phone] or 561/835-9400. Completed claim forms must be postmarked on or before May 5, 2000, and sent to: Claims Administrator, Texas Biotechnology Corp. Securities Litigation, c/o David Berdon & Co. LLP, P.O. Box 3218, Grand Central Station, New York, NY 10163. Do not contact the Court or the Clerk of Court.