ID BIOMEDICAL ANNOUNCES SALE AND LEASEBACK TRANSACTIONS

ID Biomedical has signed agreements with Alexandria Real Estate Equities for the sale and leaseback of two ID Biomedical facilities: the newly constructed Vaccine Research Centre in Laval, Quebec, Canada; and a vaccine development facility in Northborough, Mass., U.S. The total purchase price to be paid at closing to ID Biomedical is approximately CAD $50 million. The closing of the transactions is subject to certain conditions. The company expects to close the transactions by no later than Jan. 31, 2005.

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