Proteo, Inc.: Placement of Preferred Stock Series A - US$ 3.6 million finance for clinical trials

Proteo, Inc. (OTCBB: PTEO; Frankfurter Freiverkehr: WKN: 925981)
announced today the placement of preferred stock. Proteo announced
today the placement of 600,000 shares of Preferred Stock Series A of
Proteo Inc.'s authorized capital to an institutional investor FID
Esprit AG in Switzerland. The US$3.6 million proceeds of this
transaction will enable the German subsidiary to advance the progress
of its clinical development program.

   About Proteo The company researches, develops and markets
compounds for biological and medical research as well as for use as
pharmaceuticals. PROTEO holds the production and utilization rights
for recombinant human Elafin. PROTEO intends to out-license selected
indications and to establish international strategic alliances in
order to open up new fields of application and for marketing
(www.proteo.us).

   Forward-Looking Statements Certain statements in this news release
may contain forward-looking information within the meaning of Rule 175
under the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. All statements, other than statements of fact included in
this release, including, without limitation, statements regarding
potential future plans and objectives of the company, are
forward-looking statements that involve risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Technical complications that may arise
could prevent the prompt implementation of any strategically
significant plan(s) outlined above. The company cautions that these
forward looking statements and risks and uncertainties involved are
further qualified by other factors including, but not limited to those
set forth in the company's Form 10-KSB filing and other filings with
the United States Securities and Exchange Commission. The company
undertakes no obligation to publicly update or revise any statements
in this release, whether as a result of new information, future events
or otherwise.

   Further information: www.proteo.us

   Contact: [e-mail]
  
    
  
  
    
      Proteo, Inc. (OTCBB: PTEO; Frankfurter Freiverkehr: WKN: 925981) 
      announced today the placement of preferred stock. Proteo announced today 
      the placement of 600,000 shares of Preferred Stock Series A of Proteo 
      Inc.'s authorized capital to an institutional investor FID Esprit AG in 
      Switzerland. The US$3.6 million proceeds of this transaction will enable 
      the German subsidiary to advance the progress of its clinical 
      development program.
    
    
      About Proteo The company researches, develops and markets compounds for 
      biological and medical research as well as for use as pharmaceuticals. 
      PROTEO holds the production and utilization rights for recombinant human 
      Elafin. PROTEO intends to out-license selected indications and to 
      establish international strategic alliances in order to open up new 
      fields of application and for marketing (www.proteo.us).
    
    
      Forward-Looking Statements Certain statements in this news release may 
      contain forward-looking information within the meaning of Rule 175 under 
      the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange 
      Act of 1934, and are subject to the safe harbor created by those rules. 
      All statements, other than statements of fact included in this release, 
      including, without limitation, statements regarding potential future 
      plans and objectives of the company, are forward-looking statements that 
      involve risks and uncertainties. There can be no assurance that such 
      statements will prove to be accurate and actual results and future 
      events could differ materially from those anticipated in such 
      statements. Technical complications that may arise could prevent the 
      prompt implementation of any strategically significant plan(s) outlined 
      above. The company cautions that these forward looking statements and 
      risks and uncertainties involved are further qualified by other factors 
      including, but not limited to those set forth in the company's Form 
      10-KSB filing and other filings with the United States Securities and 
      Exchange Commission. The company undertakes no obligation to publicly 
      update or revise any statements in this release, whether as a result of 
      new information, future events or otherwise.
    
    
      Further information: www.proteo.us
    
    
      Contact: [e-mail]