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Mitsubishi Corporation Invests in Burrill Life Sciences Capital Fund

September 17, 2003

San Francisco, CA - September 17, 2003

Mitsubishi Corporation, the largest trading firm based in Tokyo, has made a $10 million investment in the Burrill Life Sciences Capital Fund in order to expand its global activities in the biotechnology field. Mitsubishi Corporation's investment comes at a time when the firm is strategically placing investments in the growing life sciences industry. Through the investment, Mitsubishi Corporation intends to make Burrill & Company a strategic ally to expand its investment activities in the USA, and further, it intends to expand Burrill's scope of activities in Japan and the Asia Pacific region. The first Japanese firm to place a major investment in Burrill's fund, Mitsubishi Corporation will place a secondee in Burrill's San Francisco headquarters, and will play an active role in expanding Burrill's activities in businesses and regions where Mitsubishi Corporation has advantages. For Mitsubishi Corporation, this investment is part of a series of investments overseas to position itself as a major bio-technology player in Japan.

"We're honored to have been selected as Mitsubishi Corporation's global partner in building life science businesses worldwide through both our investment capital and our strategic partnering services, said G. Steven Burrill, CEO of Burrill & Company, a San Francisco-based, 50 person life sciences merchant bank . With the resurgence of capital market interest in biotechnology, we're excited about adding Mitsubishi Corporation to our family of global strategic partners."

Burrill & Company
Burrill & Company is a life sciences merchant bank, focused exclusively on companies involved in biotechnology, pharmaceuticals, diagnostics, human healthcare and related medical technologies, wellness and nutraceuticals, agricultural technologies, and biomaterials/bioprocesses.

Venture Capital
The Burrill family of venture capital funds, with over $450 million under management, includes the Burrill Life Sciences Capital Fund, the Burrill Biotechnology Capital Fund, the Burrill Diagnostics Fund, the Burrill Agbio Capital Fund and its successor-the Burrill Agbio Capital Fund II, the Burrill Nutraceuticals Capital Fund, and the Burrill Biomaterials/Bioprocess Capital Fund.

Strategic Partnering
Burrill & Company assists life science companies to identify, negotiate and close strategic partnerships providing access to resources, technologies or collaborations essential for executing their business plans.

Burrill & Company also works with major life science companies to spin-out internal assets and capitalize on their value, ranging from the outright sale of products or businesses to creation of new companies to exploit these assets. We also use our extensive network to help companies identify, assess and capture ("spin-in") products and companies strategic to building their businesses.

Burrill & Company's BioStreet™ is an internet-based life sciences transaction service which enhances dealmaking capabilities by offering a broad range of services designed to streamline and facilitate deals. BioStreet combines the efficient distribution power of the worldwide web with the scientific skills and strategic relationships necessary for concluding successful transactions.

We have completed more than 25 strategic partnerships with a value in excess of $1 billion.

For more information, please visit Burrill & Company's website at www.burrillandco.com.

Mitsubishi Corporation
Mitsubishi Corporation is one of the world's most diverse enterprises. This diversity is manifested in the company's 804 subsidiaries and affiliates, 75 regional subsidiaries and its network of 26 offices in Japan and 106 overseas. The company's extensive network and wide-ranging activities give it a decisive edge in gathering the timely, accurate market information vital to success. The company's six business groups — New Business Initiative, Energy business, Metals, Machinery, Chemicals and Living Essentials — work closely with clients to develop new business opportunities. Project coordination, sourcing of raw materials, investments and development of sales channels are typical of the ways Mitsubishi Corporation creates value for business partners, customers and shareholders. Mitsubishi Corporation is mid-way through its current three-year business plan, which outlines the company's growth strategies for creating value. These strategies include reshaping our existing business portfolio and forging new business models through the convergence of offline and online businesses.

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