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Biotech / Medical : Drug Royalty Corporation (DRI-TSE)

DRI 188.44

-0.8%

Dec 26 4:00 PM EST

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To: lwk who wrote (89)	7/14/1999 11:28:00 AM
From: lwk	of 96

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: DRUG ROYALTY CORPORATION TSE SYMBOL: DRI JULY 14, 1999 Drug Royalty Announces Appointment Of David A. Williams To Its Board Of Directors TORONTO, ONTARIO--Drug Royalty Corporation Inc. (TSE:DRI) today announced that David A. Williams has been appointed to the Company's Board of Directors. Mr. Williams is a well-respected investment professional in Canada. He was a founding partner and President of Beutel, Goodman & Company and is currently a director of several aggressive growth companies in the United States and Canada, including Phoenix Investment Partners, Pinetree Capital Corporation and Radiant Energy Corporation. "David Williams' financial experience further strengthens the skills of our board. David is a great addition. His energy and expertise in building companies will provide valuable input to enhancing shareholder value at an important growth stage in our company's history," said Ian Lennox, President and Chief Executive Officer of Drug Royalty. Mr. Williams received an honorary Doctorate of Civil Law from Bishop's University in 1996. He has an M.B.A. from Queen's University and a B.A. from Bishop's University. Drug Royalty Corporation Inc. is an innovative and profitable company participating in the growth of the global healthcare market by investing in and creating royalty streams generated from pharmaceutical products. DRC is building an international royalty portfolio of high growth, pharmaceutical products. This release and other information about Drug Royalty Corporation Inc. can be found on their website at www.drugroyalty.com. Drug Royalty's common shares trade on The Toronto Stock Exchange under the symbol DRI. Total number of shares outstanding is 40,253,548. Drug Royalty cannot guarantee that any predictions, forecasts and other forward-looking statements in this news release will materialize. Nor is it possible for the company to commit itself to updating information about risks and other factors pertaining to its business that might appear in this or any other public-disclosure documents it publishes. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Drug Royalty Corporation Shameze Rampertab Director, Financial Services (416) 863-1865 ext.232 (416) 863-5161 (FAX) shamezer@drugroyalty.com or The Equicom Group Jason Hogan Investor Relations (416) 815-0700 ext.222 (416) 815-0080 (FAX) jhogan@equicomgroup.com

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