Southpoint announces purchase of 41,504,000 units of Adherex Technologies Inc.

    NEW YORK, NY, March 6 /CNW Telbec/ - As previously disclosed by Adherex
Technologies Inc. in its press release and material change report dated
February 21, 2007, Southpoint Capital Advisors LP, acting on behalf of certain
Southpoint funds for which it serves as investment manager, acquired ownership
or control of 41,504,000 units of Adherex pursuant to an exempt offering
completed on February 21, 2007, at a price of US$0.33 per unit (representing
an aggregate of 41,504,000 common shares and 20,752,000 warrants convertible
into common shares), representing approximately 42% of the total outstanding
common shares of Adherex (assuming full exercise of all warrants issued to
Southpoint but no other outstanding warrants or options). Southpoint does not
own any other securities of Adherex.
    Southpoint acquired the common shares and warrants for portfolio
investment purposes. Southpoint may acquire additional securities of Adherex
or dispose of securities of Adherex at any time and from time to time in the
open market or otherwise. Southpoint is issuing this press release pursuant to
the requirements of National Instrument 62-103 - The Early Warning System and
Related Take-Over Bid and Insider Reporting Issues - and the applicable
Canadian securities legislation.

For further information:

For further information: Adam P. Nemser, Southpoint Capital Advisors LP,
(212) 692-6350

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