AVI BioPharma Presents at UBS Global Life Sciences Conference

PORTLAND, Ore. — Sept. 27, 2004 — AVI BioPharma, Inc. (Nasdaq: AVII), will present a clinical, regulatory and financial update about the company at the UBS Global Life Sciences Conference at the Grand Hyatt Hotel in New York City. Alan P. Timmins, president and COO of AVI, is scheduled to speak at 4 p.m. EDT Tuesday, Sept. 28.

A live audio webcast of the presentation will be available via the UBS Web site at http://www.ibb.ubs.com. Visitors should select the conferences link on that page and follow the webcast link for the Global Life Sciences Conference. An audio replay of the presentation will be available three hours after the presentation and will remain accessible for 30 days.

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 cell proliferation disorders, including cardiovascular restenosis, cancer and polycystic kidney disease. 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, hepatitis C virus and dengue virus. AVI’s second technology, Avicine®, is a therapeutic cancer vaccine with late-stage trials planned for the treatment of pancreatic 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.