As announced on 20 February 2007 in stock exchange announcement no. 04-07, Bavarian Nordic has, as a consequence of the on-going rights issue, postponed the release of the company's 2006 Annual Results until Friday 30 March 2007. The date for the release of the first quarterly report 2007 has also been changed and Bavarian Nordic will now publish this on Thursday 3 May 2007. The updated financial calendar for 2007 is as follows: 30 March Annual accounts 26 April Annual General Meeting 3 May First quarterly report (Q1) for the three-month period ended 31 March 2007 9 August Half-year report (Q2) for the six-month period ended 30 June 2007 6 November Third quarterly report (Q3) for the nine-month period ended 30 September 2007 Kvistgård, 20 March 2007 Asger Aamund Chairman Contacts: Peter Wulff, President & CEO Telephone: +45 33 26 83 83 Stockwise Resumé Bavarian Nordic A/S Issues Revised Financial Calendar