GENEVA, June 30 /PRNewswire-FirstCall/ -- CalciTech Ltd. (OTCBB: CLKTF) announces today it has filed it's Form 20F with the SEC which includes audited accounts for the year ended December 31st, 2008. The Company's annual filing can be downloaded from the SEC website: http://www.sec.gov/edgar.shtml Revenues decreased from $58,000 to $NIL. Whilst the small-scale production plant in Leuna, Germany continued to produce samples, no further sales have been generated as these have been mainly smaller sample sizes for the non-paper applications. The development of both projects and products has continued during 2008. This has resulted in the further capitalization of $ 2,432,000.compared to $2,035,000 in 2007. During 2008, the Company has continued to contain and reduce overhead costs. General and Administrative expenditure increased from $313,000 to $1,197,000 due to market forces as a result of the down turn in the world economy. The majority was a currency loss of $145,520 against a currency gain in 2007 of $370,442. Professional and legal fees increased from $77,000 to $468,000. This increase was mainly due to project financing efforts and due diligence requirements related to project development. Interest charges have increased substantially from $341,000 to $791,000. This is due to a failure of a planned share placement during the year requiring additional bridge facilities to year-end. Recent announcements have been made concerning the rearrangement of the Company's debt following which we expect interest charges to be considerably reduced for 2009. Excellent progress has continued with our products in the marketplace, particularly with non-paper applications. Our further project developments have also advanced, a number through the pre joint venture feasibility stage. However with the changing financial circumstances, we have still to complete the financing for our planned plant in Germany. The Company, as previously announced, has successfully rearranged its debt structure at December 31st, 2008. Our debenture holders, amounting to $4.64 million, agreed to convert 50% of their holdings into shares with a new rate of interest and conversion terms for the balance of $2.32 million. Our use of the Epsom Asset Management Ltd. ("Epsom") working capital facility was fully utilised during the last quarter of 2008. Epsom has agreed to extend and increase the facility to GBP3 million. The Company is confident that, following the restructure, it is well placed to take advantage of developing projects, while the marketplace will retain the same high interest to take our specialty 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's products, manufacturing of CalciTech's 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 and Exchange Commission. Contact: CalciTech Ltd. Marc Lakmaaker Tel.: +41-22-710-40-20 E-Mail: Internet: http://www.calcitech.com/ DATASOURCE: CalciTech Ltd CONTACT: Contact: CalciTech Ltd., Marc Lakmaaker, Tel.: +41-22-710-40-20, E-Mail:

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