CalciTech Announces Warrant Conversion.

HAMILTON, Bermuda -- CalciTech Ltd. (Ofex:CLK) (OTCBB:CLKTF) (GER:XCH) today announces it has received notification from 100% of its warrant holders to convert their $0.35 warrants that matured 26th January 2006.

Investors in CalciTech's private placement, concluded on 27th January 2005, were entitled to one full warrant for twelve months to be exercised at $0.35 for each unit taken down in the placement. The oversubscribed placement raised $2.25 million, consisting of 9 million units.

With the conversion of the warrants, CalciTech raises $3.15 million, with no further finder's fee associated with the fund raising. The proceeds will be used to further the Company's commercial projects, working capital and reduction of convertible short-term debt. On issue, the company will have 88,899,675 million common shares outstanding.

The parties converting their warrants have all been long-term supporters of CalciTech and have indicated they will continue to do so.

Roger Leopard, CalciTech's CEO, stated, "Our new product announcements have resulted in considerable market interest in non-paper applications, exhibiting further the commercial opportunities that our unique technology brings. The conversion of warrants by all holders demonstrates the growing understanding of the value of our technology and faith in our ability to commercialise our SCC products."

The directors of the company take responsibility for this announcement.

This press release contains "forward looking statements" including forward looking statements as that term is defined in section 27a of the United States securities act of 1933 and section 21e of the securities and exchange act of 1934. Statements in this press release, which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements which are subject to a number of contingencies and uncertainties, including, but not limited to, market acceptance for CalciTech products, manufacturing of CalciTech products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits.

It is important to note that the corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the company's public filings with the Securities & Exchange Commission.