Press Release

PORTLAND, Ore.--(BUSINESS WIRE)--May 11, 2006--AVI BioPharma, Inc. (Nasdaq:AVII), today announced that on Monday, May 15, 2006, Alan P. Timmins, AVI's president and COO, will present the company's overall strategy and progress to date at the Rodman & Renshaw 3rd Annual Global Healthcare Conference, to be held at Le Meridien Beach Plaza Hotel at the Sea Club in Monte Carlo, Monaco. AVI's presentation will take place at 9:05 a.m. CEST in the Atlantique Salon, Eastern meeting room.

About AVI BioPharma

AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using third-generation NEUGENE(R) antisense drugs. AVI's lead NEUGENE antisense compound is designed to target cell proliferation disorders, including cardiovascular restenosis, cancer and polycystic kidney disease. In addition to targeting specific genes in the body, AVI's antiviral program uses NEUGENE antisense compounds to combat disease by targeting single-stranded RNA viruses, including West Nile virus, hepatitis C virus, dengue virus, Ebola virus and influenza A virus. AVI has introduced a NEUGENE-based exon-skipping technology called ESPRIT therapy. More information about AVI is available on the company's Web site at http://www.avibio.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the results of research and development efforts, the results of preclinical and clinical testing, the effect of regulation by the FDA and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, and other risks detailed in the company's Securities and Exchange Commission filings.

    CONTACT: AVI BioPharma, Inc.
             Michael Hubbard, 503-227-0554
             hubbard@avibio.com
             or
             Investor Contacts:
             Lippert/Heilshorn & Associates Inc.
             Jody Cain or Brandi Floberg, 310-691-7100
             jcain@lhai.com
             bfloberg@lhai.com
             or
             Press Contact:
             Waggener Edstrom Worldwide
             Bioscience and Healthcare Practice
             Jenny Moede, 503-443-7507
             jmoede@waggeneredstrom.com

    SOURCE: AVI BioPharma, Inc.