First Public Release of Norwood Immunology Study Data to be Presented at Prestigious USA Medical Conference.

Business Editors/Health/Medical Writers

MELBOURNE, Australia--(BUSINESS WIRE)--Nov. 17, 2003

Norwood Abbey Limited (ASX:NAL):

Key points:

-- Previously unpublished, detailed data of the world-first

trials undertaken by Norwood and its research partners are to

be presented at the prestigious meeting of the American

Society of Hematology ("ASH"), in Washington, D.C., in early

December 2003, and have also been published in abstract form

in the leading industry journal, "Blood".

-- The trial results provide evidence of thymic regrowth and

improved immune system recovery following blocking of the sex

hormones through the administration of GnRH analogues.

-- Very significant patient populations - several million in the

USA alone - could potentially benefit from an improved immune

response. Per patient treatment product cost anticipated to be

on average approximately $2,500.

-- Under its exclusive licence for the USA with TAP

Pharmaceutical Products Inc., Norwood will receive royalties

on sales of TAP's market leading sex hormone blocking therapy,

Lupron Depot, in the entire field of immunology.

Norwood Abbey Limited (ASX:NAL) announced today that two presentations concerning promising trial results of its immunology project will be presented at the December meeting of the American Society of Hematology, in Washington, D.C.

The presentations (abstract published in the November, 16, 2003 Hematology Society Journal, "Blood") focus on the work performed jointly between Norwood, Monash University, The Peter MacCallum Cancer Institute and the Alfred Hospital. In a world first, the pre-clinical models and clinical trials undertaken provide evidence of thymic regrowth and improved immune system recovery following blocking of the sex hormones through the administration of GnRH analogues.

Specifically, there is the following:

-- Increased thymic output of naive and regulatory T cells, both

essential elements of a good immune response to infection;

-- Increased levels of the critical CD4 Helper T cells (which are

destroyed by the HIV virus);

-- Increased functionality of T cells;

-- Improved production of other blood cells indicating increased

bone marrow function;

-- Increased bone marrow levels of Haemopoietic Stem Cells

("HSC") - the blood stem cells.

The controlled clinical trials involved 40 leukemia / lymphoma patients undergoing Peripheral Blood HSC transplantation (a procedure more commonly known as bone marrow transplantation ("BMT")) following chemotherapy.

Further international trials in the BMT arena have already been announced by Norwood. There are approximately 20,000 Bone Marrow Transplants carried out annually in the United States and 40,000 in the developed world as a whole.

Norwood is also focusing on other broader areas within the oncology arena, such as immuno-suppressed cancer patients, as a result of both chemotherapy and radiation therapy. There are 1.4 million patients who undergo chemotherapy treatment per annum in the United States, and in each instance these current treatment protocols significantly degrade the immune system.

Additionally, as recently reported, a trial in HIV/AIDS patients will be conducted in Switzerland in conjunction with the US National Institutes of Health (NIH). In North America alone, there are almost one million HIV positive people.

Norwood estimates that a typical course of Lupron Depot for immunology applications will cost on average $2,500 depending on the clinical application and treatment duration.

In partnering with TAP, Norwood will receive royalties on sales of Lupron Depot in the immunology field in the USA, the world's largest pharmaceutical market; accordingly, it believes the exclusive licence offers the potential for significant commercial returns.

To find out more about the company, visit www.norwoodabbey.com.