AVI BioPharma Presents at UBS Warburg Global Life Sciences Conference

PORTLAND, Ore. - Oct. 4, 2002 - AVI BioPharma, Inc. (Nasdaq: AVII, AVIIW, AVIIZ), today announced that Denis R. Burger, Ph.D., AVI's chief executive officer, will provide an update on the company's product pipeline and clinical development program featuring its antisense and cancer vaccine drug platforms. Dr. Burger's presentation will take place Wednesday, Oct. 9 at 2:30 p.m. at the Plaza Hotel in New York City.

"AVI is pleased to be presenting at UBS Warburg again this year," Dr. Burger said. "We believe AVI is stronger today than ever in our corporate history and look forward to sharing the company's progress with the conference participants."

Dr. Burger's presentation can be listened to live via the UBS Warburg Web site at http://www.ubswarburg.com/. A recorded replay will be available at the UBS Warburg Web site three hours after the presentation until Nov. 10.

About AVI BioPharma

AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using two technology platforms: NeuGene® antisense drugs and cancer immunotherapy. Its lead cancer agent, AVICINE®, a therapeutic cancer vaccine, has completed three Phase II trials in colorectal and pancreatic cancer and is initiating a Phase III pivotal trial in pancreatic cancer, with a supporting study in colorectal cancer. The first application of its NeuGene compounds, Resten-NG™, is designed to treat cancer, cardiovascular restenosis and other cell proliferation disorders by inhibiting the production of a cellular transcription factor, the oncogene c-myc. It is currently in Phase II trials for restenosis and in a Phase I/II trial for cancer. AVI has recently completed a Phase I NeuGene antisense study that successfully down-regulated the liver enzyme cytochrome P450 and modified drug metabolism, and also recently completed a Phase I/II trial in polycystic kidney disease. More information about AVI is available on the Company's Web site at http://www.avibio.com/.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the results of research and development efforts, the results of preclinical and clinical testing, the effect of regulation by the FDA and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, and other risks detailed in the Company's Securities and Exchange Commission filings.