Algeta to present at Cowen's 30th Annual Health Care Conference

Oslo, Norway, 4 March 2010 - Algeta ASA (OSE: ALGETA), the focused oncology company, announces that President & CEO Andrew Kay will give a company presentation to investors at Cowen's 30thAnnual Health Care Conference.

The presentation will be made at 2:15 pm (EST)/8:15 pm (CET) on Tuesday 9 March 2010 in the Harvard room at The Boston Marriott Copley Place, Boston, Massachusetts, USA.

The presentation will be available as a PDF on Algeta's website (www.algeta.com <http://www.algeta.com/>) in the Investors section after the presentation.

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For further information, please contact

Andrew Kay, CEO +47 2300 7990 / +474840 1360 (mob) Oystein Soug, CFO +47 2300 7990 / +479065 6525 (mob) post@algeta.com

International media enquiries: +44 207 638 9571 Mark Swallow/Helena Galilee/David mark.swallow@citigatedr.co.uk Dible <mailto:mark.swallow@citigatedr.co.uk> Citigate Dewe Rogerson

US investor enquiries: +1 646 378 2928 Jessica Lloyd jlloyd@troutgroup.com The Trout Group <mailto:jlloyd@troutgroup.com>

About Algeta Algeta is a focused oncology company developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform.

Algeta's lead product Alpharadin (based on radium-223) is a first-in-class, highly targeted alpha-pharmaceutical under clinical evaluation to improve survival in patients with bone metastasesfrom advanced cancer. Its localized action helps preserve the surrounding healthy tissue thereby limiting side-effects.

The development of bone metastases represents a serious development for cancer patients as they are associated with a dramatic decline in patient health and quality of life, ultimately leading to death. Bone metastases represent a major unmet medical need, occurring in up to 90% of certain late-stage cancers, e.g. prostate, breast and lung.

Alpharadin is partnered with Bayer Schering Pharma AG, a major pharmaceutical company, and is in a global phase III clinical trial (ALSYMPCA) to treat bone metastases resulting from hormone-refractory (castration-resistant) prostate cancer. Alpharadin is also under investigation in phase II clinical trials as a potential new treatment for bone metastases in endocrine-refractory breast cancer patients.

Algeta also aims to develop a future pipeline of tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227, through selective in-licensing and/or acquiring innovative technologies and tumor-targeting molecules.

The Company is headquartered in Oslo, Norway, and was founded in 1997. Algeta listed on the Oslo Stock Exchange in March 2007 (Ticker: ALGETA).

Alpharadin and Algeta are trademarks of Algeta ASA.

Forward-looking Statement This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Algeta. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Theses factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to close viable and profitable business deals, the risk of non-approval of patents not yet granted and difficulties of obtaining relevant governmental approvals for new products.

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This information is subject of the disclosure requirements acc. to 5-12 vphl (Norwegian Securities Trading Act)

[HUG#1391042]

Algeta to present at Cowen?s 30th Annual Health Care Conference: http://hugin.info/134655/R/1391042/348979.pdf

SOURCE: Algeta ASA

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