Press Release

PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 1, 2006--AVI BioPharma Inc. (Nasdaq: AVII) today announced that the company will release its 2006 third quarter financial results prior to market open on Wednesday, November 8. Due to travel schedules, management will hold a conference call on Wednesday, November 15, 2006, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) to discuss those results and to answer questions.

Individuals interested in listening to the live conference call may do so by dialing (888) 803-8271 toll free within the United States and Canada, or (706) 634-2467 for international callers. A telephone replay of the conference call will be available for 48 hours beginning November 15 within two hours after the conclusion of the call, by dialing (800) 642-1687 domestically, or (706) 645-9291 internationally, and entering reservation number 9155986.

The conference call can be heard live via audio webcast at the company's Web site: www.avibio.com. A replay will also be available for 14 days.

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.
             310-691-7100
             Jody Cain, jcain@lhai.com
             Brandi Floberg, bfloberg@lhai.com
             or
             Press Contact:
             Waggener Edstrom Worldwide
             Bioscience and Healthcare Practice
             Andie Long, 202-326-0791
             andreal@waggeneredstrom.com

    SOURCE: AVI BioPharma, Inc.