SnowWorld N.V. — M&A Activity 2008

Mar 31, 2008

PRESS RELEASE

Envisaged acquisition of BIAL-Aristegui to strenghten Fornix' position in the European allergy market

Lelystad, 31 March 2008

Fornix BioSciences N.V. (Fornix) is discussing with BIAL – S.G.P.S., S.A. (BIAL) the potential acquisition of the Allergy Division of BIAL in Spain and Portugal known as "BIAL-Aristegui". Pursuant to the discussions, Fornix and BIAL signed a letter of intent in the course of last weekend. Fornix' Supervisory Board has approved this letter of intent.

The acquisition of BIAL's Allergy Division will be an important strategic step for Fornix, implementing its strategy to grow through expansion and diversification of the allergy activities. BIAL-Aristegui is a top-three player in Spain and Portugal offering a complete product portfolio of immunotherapy products both in the form of injections (SCIT) as by means of administering drops under the tongue (SLIT). In addition, BIAL-Aristegui has a leading and renowned R&D team with several product developments in the pipeline. The acquisition will substantially strengthen Fornix' position in the European allergy market.

The envisaged acquisition is subject to customary conditions including an extensive due diligence investigation. Fornix and BIAL aim to sign final agreements by the end of June of this year. Fornix shall request final approval for the acquisition from its shareholders at an extraordinary meeting of shareholders to be scheduled.

END OF PRESS RELEASE

For further information: Fornix BioSciences N.V. C.L. Bergman, CEO Fornix BioSciences N.V. Tel. (0320) 26 77 99 Website: www.fornix.nl

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Profile of BIAL

BIAL is a Portuguese research-based pharmaceutical group headquartered in Porto, Portugal. BIAL was founded in 1924 and is the largest Portuguese pharmaceutical group with an international presence in over 30 countries.

BIAL-Aristegui is a specialized immunotherapy business in Spain and Portugal comprising research, development, production, marketing and sales. BIAL's main immunotherapy product, Allergovac® , is one of the leading products within the Iberian Peninsula.

BIAL also conducts research and development focused on the central nervous and cardiovascular systems investing more than 20% of its turnover. BIAL has several innovative programs under development, which it expects to bring to the market and has recently signed an exclusive license agreement with a North American pharmaceutical company to commercialise its novel antiepileptic compound (BIA 2-093) in the US and Canada. BIAL is also the partner of choice for many global companies wishing to commercialise products within the Iberian Peninsula, Latin America and Africa.

Profile of Fornix BioSciences N.V.

Fornix BioSciences N.V. is a listed company (Euronext Amsterdam, code AFORBI) which engages in the development and sale of diagnostic and therapeutic allergen products and the distribution of medical aids and medical and nursing consumables. Fornix BioSciences N.V. has sites in Lelystad, Beuningen and Hamburg. The company currently has a workforce of around 130 and is active mainly in the Netherlands and Germany.

Its activities are carried on by two divisions, which in turn are made up of operating companies.

The Allergy Division, which consists of Artu Biologicals Europe and, since 1 June 2007, Artu Biologicals Deutschland, is the most profitable division. Its activities include the development, production and sale of a wide range of patient-friendly immunotherapeutic products, under the Oralgen®, Igevac® and other brands. These products are used in the causal treatment of allergies triggered by various allergens, such as grass and tree pollen and house-dust mites. The development programme is supported by high-quality R&D and pan-European clinical studies of the efficacy of the various products.

The Medical Aids Division, which consists of Laprolan in Beuningen, engages in the sale, marketing and distribution of a wide range of medical aids and medical and nursing consumables.