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Norwood Abbey Appoints Three USA Based Non-Executive Directors.

MELBOURNE, Australia -- Norwood Abbey Ltd. (other-OTC:NABYF) (ASX:NAL):
Key Points:

 -- Three new USA based directors appointed to Norwood Abbey Board
 of Directors
 -- Elizabeth Wyatt -- former Vice President, Corporate
 Licensing, Merck and Co.
 -- Richard Zahn -- former President, Schering Laboratories and
 former Corporate Vice President of Schering-Plough
 -- Ian Hunter -- Professor, Massachusetts Institute of
 Technology (MIT) Boston

 -- Combined expertise in pharmaceutical industry licensing,
 acquisitions and business development and medical device
 research and development

 -- Significantly enhances caliber of Norwood Abbey Board of

Norwood Abbey Ltd. (other-OTC:NABYF) (ASX:NAL) has appointed three new non-executive directors to the Board of Directors. Their appointments significantly strengthen the Board of Norwood and they bring extensive experience and skill sets that will greatly assist the company as it continues to expand globally.

The new directors are Mrs. Elizabeth Wyatt, Mr. Richard Zahn and Professor Ian Hunter.

Executive Chairman, Peter Hansen stated: "Norwood Abbey's business focus is on the development and international commercialization of medical projects. During the course of this calendar year, and in relation to the commercialization of our drug delivery and ophthalmology projects, the Company has made a number of senior executive appointments in the USA, Europe and Asia.

"In conjunction with the expansion of the Company into international markets Norwood has been actively seeking to appoint new Board members. I am delighted that Elizabeth, Richard and Ian have agreed to join the Norwood team. Their knowledge, expertise and advice will be invaluable as the Company continues to expand and grow its business and moves towards a listing on the US NASDAQ exchange."

Mrs. Elizabeth Wyatt was employed by one of the world's most highly regarded and successful pharmaceutical companies, Merck and Co., Inc. for 20 years. During the period between 1980 and 2000, Elizabeth held a number of senior roles and most recently was Vice President, Corporate Licensing.

She has extensive experience in corporate licensing and acquisition with responsibilities including compound and technology acquisition, research collaborations and competitive and licensing information functions.

Elizabeth led an experienced staff that successfully concluded numerous and commercially successful deals with biotechnology, pharmaceutical and drug delivery companies, which included a fully integrated vaccine joint venture in Europe with Aventis and partnerships with Schering-Plough for the cholesterol-lowering drugs, ZETIA and VYTORIN.

Since 2002 Mrs. Wyatt has been a Board member of MedImmune, Inc., ARIAD Pharmaceuticals, Inc. and Neose Technologies. She is on the Board of Trustees of the Randolph-Macon College (Chair of Committee on Trustees; Past Chair, Nominating and Enrollment Committees; 1997 presidential Selection Committee) and recently joined the Board of Trustees at Sweet Briar College.

Mr. Richard Zahn has more than 30 years of experience in the Biotechnology and Pharmaceutical industries. Most recently, Richard was President of Schering Laboratories, Director, Schering Corporation, and a Corporate Vice President of Schering-Plough Corporation, a global research-based company engaged in the discovery, development, manufacturing, and marketing of pharmaceutical biotechnology products and health care products worldwide. Schering Laboratories is the U.S. prescription pharmaceutical marketing arm for Schering-Plough. He is well established as both a leader and strategist in healthcare research and development, professional and consumer marketing, sales force management, managed care, State and Federal relations, and human resources.

Mr. Zahn's accomplishments at Schering were many and varied. As President of Schering Laboratories, he directed the Corporation's primary business unit through the most dynamic growth period in its history, transforming it from a US$1.5 billion organisation to a US$6 billion major company. Between 1996 and 2001 Schering Labs sales grew at double-digit rates, and the company expanded to employ some 4,000 professionals.

Under his stewardship, Schering Labs created and developed important prescription therapeutic markets ranging from non-sedating antihistamines (Claritin and Clarinex) to the successful treatment of Hepatitis-C (Intron-A, Rebetron, and Peg-Intron).

Prior to Schering-Plough, Richard was with Johnson and Johnson (1973 and 1992) where he held a number of senior positions in sales and marketing and product development.

Professor Ian Hunter is a Chaired Professor in the Department of Mechanical Engineering at Massachusetts Institute of Technology (MIT) and is also a Professor of Biological Engineering at MIT.

He is Head of the MIT BioInstrumentation Laboratory and is also co-Director of the Brit and Alex d'Arbeloff Laboratory for Information Systems and Technology at MIT.

Professor Hunter was recently recognised for outstanding teaching, receiving both the Keenan Award for Innovation in Undergraduate Teaching and the Bose Award for Excellence in Teaching.

Professor Hunter holds BSc, MSc and PhD degrees and has over 250 scientific publications and many patents. He has founded or co-founded a number of companies including Advanced Instrumentation Systems, BioTrove, Molecular Mechanisms, and InterMed Advisors.

Under Norwood's Sponsored Research Agreement with MIT, Ian and his team (at MIT) have been developing two projects -- a needle-free drug delivery system and a micro-needle based controlled delivery technology.

For further information on Norwood Abbey, visit
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Publication:Business Wire
Geographic Code:1USA
Date:Oct 5, 2004
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