LAB INTERNATIONAL RAISES $12.3 MILLION IN PRIVATE PLACEMENT

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LAB International Inc. (TSX: LAB, Frankfurt: LD9.F, XETRA: LD9.DE) ("LAB"), an integrated drug development company with subsidiaries focused on developing therapies for the inhalation market and on providing contract research services, today announced that it has raised $12.3 million through the non-brokered private placement of 13 996 466 common shares at a price of $0.88 per share.

Canada NewsWire (http://www.newswire.ca/en/releases/archive/December2005/13/c6434.html)