CalciTech Renegotiates $4.364 million Convertible Debentures HAMILTON, Bermuda, July 19 /PRNewswire-FirstCall/ -- CalciTech Ltd. (TSX- V: CLK; OTCBB: CLKTF; Freiverkehr: XCH) announces it has successfully renegotiated 94% of the outstanding 5% debentures. Under the new terms, the debenture holders may convert into a future application for listing to a senior European or North American Stock Exchange or by 31st December, 2007, whichever maybe the earlier. The conversion price into the Company's Common Stock shall be US $1.75 per share. All other terms and conditions of the 5% convertible debenture remain unchanged. Roger Leopard, CEO of CalciTech stated, "We are pleased with the renegotiated terms. Our shareholders can assess the very limited dilution if the debentures are converted, while debenture holders, who have supported the Company throughout and continue to do so, have upside potential." CalciTech has developed a patented process for the production of Synthetic Calcium Carbonate ("SCC") from industrial waste lime and flue gas carbon dioxide. SCC has a unique narrow span for high grade coating pigment applications and will be produced at the Company's first commercial plant in the planning stage at Leuna, Germany. This press release contains forward-looking statements which are subject to a number of contingencies and uncertainties, including but not limited to, market acceptance for CalciTech products, manufacturing of CalciTech products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits. Such forward- looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could change. No Stock Exchange has reviewed or accepted responsibility for the adequacy or accuracy of this press release. DATASOURCE: CALCITECH LTD. CONTACT: CalciTech Ltd.: Marc Lakmaaker, , Switzerland +41 22 710 4020, Canada +1 604 910 6599, Toll Free North America: 1 800 905 9544, http://www.calcitech.com/; Renmark Financial Communications Inc.: Michael Small: ; Edith English : ; Media, Cynthia Lane - , (514) 939-3989, http://www.renmarkfinancial.com/

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