AVI BioPharma Announces Second Quarter Financial Results Conference Call

PORTLAND, Ore. - July 24, 2003 - AVI BioPharma Inc. (Nasdaq: AVII, AVIIW, AVIIZ) today announced that the Company will hold a conference call to discuss 2003 second quarter financial results on Tuesday, August 5, 2003, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time).

The conference call can be heard live via audio webcast at the Company's Web site. A replay will also be available for 14 days.

A telephone replay of the conference call will be available for 48 hours beginning August 5 at approximately 12:00 p.m. Eastern Time by dialing (800) 642-1687 domestically, or (706) 645-9291 Internationally and entering reservation number 1874784.

About AVI BioPharma

AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using two technology platforms: third-generation NeuGene antisense drugs and cancer immunotherapy. AVI's lead NeuGene antisense compound is designed to target cardiovascular restenosis, cancer, polycystic kidney disease and other cell proliferation disorders. In addition to targeting specific genes in the body, AVI's antiviral program uses NeuGene antisense compounds to target single-stranded RNA viruses, including West Nile virus, SARS coronavirus, calicivirus, and Hepatitis C. AVI's second technology, Avicine®, is a therapeutic cancer vaccine with late-stage trials planned for the treatment of pancreatic and colorectal cancer. 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.