December 9, 2003

News Release: Forbes Medi-Tech expanding Texas joint-venture cholesterol-drug plant

Forbes Medi-Tech, Inc. (NASDAQ:FMTI) (TSX:FMI) announced today that it has initiated the expansion of its joint venture's manufacturing facility in Pasadena, Texas. The Phyto-Source, LP plant's capacity is being increased by 50% to 1,500 metric tonnes based on the demand for phytosterol-based products including Reducol(TM) and Phyto-S Sterols. It is expected that the plant expansion cost will be self-funded from revenue generated by the Phyto-source joint venture with a portion of new equipment cost to be financed by the Southwest Bank of Texas and guaranteed by the joint venture partners, Forbes USA (subsidiary of Forbes Medi-Tech, Inc.) and Chusei (USA) Inc. The increased plant capacity is scheduled to be available mid 2004. 'Based on the emerging trends in our business, we feel that an expansion of our plant is warranted,'said Charles Butt, President and CEO of Forbes Medi-Tech, Inc. 'We believe that interest in cholesterol lowering ingredients will continue to rise and that this expansion will allow us to develop the infrastructure to support this expected growth,'said Butt.

Additionally, the plant expansion would provide Forbes with the flexibility to address an increase in product demand should Reducol(TM) be approved under the European Union Novel Foods regulations.

About Forbes Medi-Tech, Inc.

Forbes Medi-Tech, Inc. is a biopharmaceutical company dedicated to the research, development and commercialization of innovative prescription pharmaceutical and nutraceutical products for the prevention and treatment of cardiovascular and related diseases. Forbes'scientific platform is based on core sterol technology. By extracting plant sterols from by-products of the forestry industry and other natural sources, Forbes has developed cholesterol-lowering agents for use in pharmaceutical compounds, functional foods and dietary supplements.

NASDAQ and the Toronto Stock Exchange have not reviewed and do not accept responsibility for the adequacy or accuracy of the content of this News Release. This News Release contains forward-looking statements about the Company's manufacturing and construction plans and potential future products which statements can be identified by the use of forward-looking terminology such as 'will', 'expected', 'scheduled', 'believe', 'to be'or any other variations thereon or comparable terminology referring to future dates, events or results. Forward-looking statements are statements about the future and are inherently uncertain, and the Company's actual results could differ materially from those anticipated in those forward-looking statements as a result of numerous factors, including without limitation; construction risks; the need for regulatory approvals, which may not be obtained in a timely matter or at all; intellectual property risks; marketing/manufacturing and partnership/strategic alliance risks; the effect of competition; uncertainty of the size and existence of a market opportunity for the Company's products; environmental risks; risks inherent in the development of pharmaceutical and nutraceutical research and the development of new products; the need for performance by buyers of their contract obligations; the Company's need for additional future capital, which may not be available in a timely manner or at all; exchange rate fluctuations; product liability risks; as well as a description of other risks and uncertainties affecting the Company and its business, as contained in news releases and filings with the United States Securities and Exchange Commission and Canadian Securities Regulatory Authorities, any of which could cause actual results to vary materially from current results or the Company's anticipated future results. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statement if those beliefs, opinions or expectations, or other circumstances should change.

SOURCE: Forbes Medi-Tech, Inc.

Forbes Medi-Tech, Inc. Investor Relations: Darren Seed, 604-681-8976 This email address is being protected from spambots. You need JavaScript enabled to view it.

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