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EXHIBIT 99.1
Contact: Pamela M. Murphy, Vice President, Corporate Communications
Texas Biotechnology Corporation
(713) 796-8822
TEXAS BIOTECHNOLOGY ANNOUNCES EXPIRATION OF WARRANTS
HOUSTON, TX -- DECEMBER 15, 2000 -- Texas Biotechnology (AMEX;TXB) announced
today that its Redeemable Common Stock Purchase Warrants (the "Warrants") will
expire at 5:00 PM, eastern standard time, on Sunday, December 31, 2000.
However, holders of Warrants will be able to exercise Warrants up to 5:00 PM,
eastern standard time, on Tuesday, January 2, 2001. The Warrants trade on the
American Stock Exchange under the ticker symbol TXB/WS. The exercise price of
the Warrants is $8.44 with one warrant equal to one share of Texas
Biotechnology stock. There are approximately 3.8 million Warrants outstanding.
Any questions regarding the procedures for exercising the Warrants should be
directed to:
The Bank of New York
Attention: Laurie Richards
Reorganization/Customer Service
212/815-6378
Texas Biotechnology is a biopharmaceutical company focused on the discovery,
development and commercialization of small molecule drugs to treat a variety of
vascular diseases including thrombosis, pulmonary hypertension, heart failure
and asthma.
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