Press Release

PORTLAND, Ore.--(BUSINESS WIRE)--Sept. 27, 2006--AVI BioPharma, Inc. (Nasdaq:AVII), today announced that on Wednesday, Sept. 27, 2006, Alan P. Timmins, AVI's president and COO, will present the company's overall strategy and progress to date at the UBS Global Life Sciences Conference to be held at the Grand Hyatt New York. The presentation will take place at 12:30 p.m. EDT in Ballroom E.

About AVI BioPharma

AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using third-generation NEUGENE 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 hepatitis C virus, influenza A virus, West Nile virus, dengue virus and Ebola 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
             Lippert/Heilshorn & Associates Inc.
             Jody Cain, 310-691-7100 (Investor Contact)
             jcain@lhai.com
             or
             Brandi Floberg, 310-691-7100 (Investor Contact)
             bfloberg@lhai.com
             or
             Waggener Edstrom Worldwide
             Bioscience and Healthcare Practice
             Jenny Moede, 503-443-7000 (Press Contact)
             jmoede@waggeneredstrom.com

    SOURCE: AVI BioPharma, Inc.