Herbert Abramson - Announcement - Acquisition of Common Shares of Lorus Therapeutics Inc.

    TORONTO, Aug. 14 /CNW/ - Mr. Herbert Abramson, a Director of
Lorus Therapeutics Inc. ("Lorus"), announces that he has acquired, directly or
indirectly, 17,112,611 units ("Units") of Lorus at a purchase price of
Cdn.$0.13 per Unit under the previously announced rights offering (the "Rights
Offering") of Lorus. Each Unit consisted of one Common Share of Lorus (a
"Common Share") and one-half of one Common Share purchase warrant (a
"Warrant"). The Units separated into Common Shares and Warrants immediately
upon closing of the Rights Offering. Accordingly, upon completion of the
Rights Offering, Mr. Abramson acquired ownership of 17,112,611 Common Shares
(representing 6.9% of the issued and outstanding Common Shares as reported to
Mr. Abramson by Lorus) and 8,556,305 Warrants exercisable into 8,556,305
Common Shares at a price of Cdn.$0.18 per share at any time before August 7,
    Mr. Abramson now owns directly or indirectly 47,101,515 Common Shares,
representing 19.0% of the issued and outstanding Common Shares, in addition to
Warrants exercisable into 8,556,305 Common Shares. Assuming the exercise of
these Warrants, Mr. Abramson would own directly or indirectly 55,807,820
Common Shares, representing approximately 21.8% of the then issued and
outstanding Common Shares.
    Mr. Abramson has acquired the securities of Lorus for investment
purposes. Mr. Abramson reserves the right to acquire further securities of
Lorus depending on market conditions and other relevant factors.
    An early warning report in respect of the above noted transactions will
be filed on SEDAR. A copy of this report and further information can be
obtained from:

    Herbert Abramson
    Tel: (416) 956-9334
    Fax: (416) 867-9771

For further information:

For further information: Herbert Abramson, Tel: (416) 956-9334, Fax:
(416) 867-9771

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