January 9, 2004

News Release: ProMetic Life Sciences Inc. - Total financing of CDN$23 million after Underwriters exercise Over-Allotment Option

ProMetic Life Sciences Inc. (TSX:PLI) announces that following the closing on December 24,2003 of its offering of 10,526,316 Subordinate Voting Shares for gross proceeds of $20 million the underwriters have given notice of their exercise in full of their over-allotment option entitling them to purchase 1,578,947 additional Subordinate Voting Shares for aggregate proceeds of approximately $3,000,000. The closing for this transaction is scheduled for January 16, 2004. The full exercise of the over-allotment option brings the total financing proceeds to $23,000,000. The syndicate of underwriters was led by Loewen, Ondaatje, McCutcheon Limited and included Sprott Securities Limited, Dundee Securities Corporation and Canaccord Capital Corporation

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. is an international biopharmaceutical company with headquarters in Montreal (Quebec), additional facilities in the UK and the USA. ProMetic specializes in research, development, manufacture and marketing of a variety of commercial applications from its proprietary platform technologies, which are used in the development of therapeutics, the elimination of pathogens, proteomics and large-scale drug purification.

This press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, successful clinical development, approval by regulatory bodies, the Company's ability to develop, manufacture, and successfully market value-added pharmaceutical products and to obtain contracts for its products and services. Shareholders are therefore cautioned that these statements are predictions and these actual events or results may differ materially from those anticipated in these forward-looking statements.

For further information: ProMetic Life Sciences Inc., Pierre Laurin,President &CEO, (514) 341-2115; Media: Dominic Sicotte, Director ofCommunication, (514) 341-2115, www.prometic.com, info(at)prometic.com; RenmarkFinancial Communications, (514) 939-3989; Investor Relations: John Boidman orSylvain Laberge, www.renmarkfinancial.com; Hofman Communications, SofieSt-Laurent, Director of Communications, (514) 673-1116

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