Biotie Therapies - Notice to general meeting

INVITATION TO THE ANNUAL GENERAL MEETING OF BIOTIE THERAPIES CORP

BIOTIE THERAPIES CORP.         STOCK EXCHANGE RELEASE
                               March 8, 2007 


INVITATION TO THE ANNUAL GENERAL MEETING OF BIOTIE THERAPIES CORP.

The shareholders of Biotie Therapies Corp. are invited to attend
the Annual General Meeting of Shareholders (the “AGM”) convening
on 28 March 2006 at 10 a.m. (Finnish time) onwards at the Mauno
Koivisto-keskus, address Tykistökatu 6, Turku, Finland. The
reception of those who have notified of their attendance will
start at the meeting venue at 9.30 a.m.

MATTERS TO BE DEALT WITH IN THE GENERAL MEETING OF SHAREHOLDERS

1. Matters that shall be dealt with in the Annual General Meeting
of Shareholders pursuant to chapter 12 of the Articles of
Association and chapter 5, section 3 of the Finnish Companies Act.

The Board of Directors of the company proposes that the loss of
the financial year shall be transferred to the company's
shareholders' equity.

The company has be notified that the shareholders representing
more than 27.6 % of the company's shares and voting rights will
propose to the General Meeting of Shareholders that the
composition of the company's Board of Directors shall remain the
same and that, thus, the members of the Board of Directors would
be Juha Jouhki, Piet Serrure, Riku Rautsola and Pauli Marttila
until the end of the Annual General Meeting of Shareholders to be
held in 2008. The same shareholders will also propose that the
fees of the Board of Directors shall remain the same so that the
Chairman of the Board of Directors and the members residing abroad
will receive EUR 3 000 and Members of the Board of Directors
residing in Finland will receive EUR 1 500 per month and that
costs arising from the participation in the meetings will be
compensated. According to the shareholders' proposal,
PricewaterhouseCoopers Oy, a firm of Authorised Public Accountants
and Janne Rajalahti, Authorised Public Accountant, would be
elected as the auditors of the company.

2. Amendment to the Articles of Association

The Board of Directors proposes that the General Meeting of
Shareholders shall amend the Articles of Association, mainly due
to the new Finnish Companies Act in force as of 1 September 2006,
as follows (references to the articles of the current Articles of
Association):

  (a) Removal of regulations concerning the amount and range of the
      share capital (Article 4)
  (b) Removal of the statement concerning the Board of Directors'
      duty in the management of the company as unnecessary.  The duties
      of the Board of Directors of the company will be determined
      pursuant to the Finnish Companies Act in force. Removal of the
      statement that a quorum requires the attendance of either the
      Chairman or the Vice Chairman (Article 5).
  (c) Removal of the description of the CEO's function. The tasks
      will be determined pursuant to the Finnish Companies Act (Article
      6).
  (d) The right to sign for the company will be changed to the
      right of representation as set forth in the new Finnish Companies
      Act. Removal of the statement that the Board of Directors may
      grant rights to sign for the company and to be noted that the
      Chairman of the Board of Directors and the CEO shall represent the
      company each alone and other members of the Board of Directors,
      two together (Article 7).
  (e) Section which concerns the presentation of the financial
      statements at the Annual General Meeting of Shareholders will be
      amended so that the financial statements containing the
      consolidated financial statements and the annual report, which no
      longer is a part of the financial statements, will be presented at
      the meeting (Article 12).
  (f) The wording of the section concerning the adoption of the
      financial statements will be amended so that according to it the
      General Meeting of Shareholders shall adopt the financial
      statements and the consolidated financial statements instead of
      the previous income statement and balance sheet and the
      consolidated income statement and balance sheet (Article 12).

3. Proposal by the Board of Directors to amend the terms of the
current option programs and convertible loans

The Board of Directors proposes that the Annual General Meeting of
Shareholders would change the current terms and conditions of the
option programs 2004 and 2006 as well as the terms of the
convertible loans granted by the company due to the changes
proposed in item 2 above and due to the changes made to the
Finnish Companies Act as of 1 September 2006. The proposed changes
are technical and the changes would entail, amongst others that
the subscription or conversion price of each share would be booked
to the invested non-restricted equity fund of the Company. Also
references to the book equivalent value would be deleted from the
terms and conditions of the option programs and of the convertible
loan programs. The references to the Companies Act would be
updated to refer to the appropriate articles of the Finnish
Companies Act currently in force.

The proposed changes would not affect the rights of the holders of
the options or the convertible loans.

4. Authorisation of the Board of Directors to resolve on a share
issue

The Board of Directors proposes that the General Meeting of
Shareholders shall authorise the Board of Directors to resolve on
one or more share issues, which contain the right to give or
dispose of shares in the possession of the company and to issue
options or other special rights to the shares pursuant to chapter
10 of the Finnish Companies Act. The authorisation would consist
of up to 18,000,000 shares in the aggregate. The Board of
Directors of the company would be authorised to decide on the
determination grounds for the subscription price of the new shares
or the subscription price. The authorisation would not exclude the
Board of Directors' right to decide on a directed share issue. The
authorisation would be effective until 30 June 2008.

Documents for the General Meeting of Shareholders and
participation:

The financial statements data for 2006, the proposals of the Board
of Directors and other documents required by the Finnish Companies
Act will be available for inspection of the shareholders at the
company's head office, address Tykistökatu 6, FI-20520 Turku,
Finland, and on the Company's website at www.biotie.com for one
week prior to the General Meeting.  Copies of the documents will
be sent to shareholders on request.

Right to participate and notice of participation

Shareholders who have been entered on 16 March 2007 as
shareholders in the company's shareholders' register kept by the
Finnish Central Securities Depository Ltd have the right to attend
the General Meeting of Shareholders. Shareholders registered in
the name of a nominee shall contact their account operators in
order to be temporarily registered in the company's shareholders'
register on 16 March 2007 for the participation in the General
Meeting of Shareholders.

Shareholders who wish to attend the General Meeting of
Shareholders are requested to notify the company of their
attendance no later than on 26 March 2007 at 4 p.m. (Finnish
time). The notification can be made by telephone +358 2 274 8911,
by telefax +358 2 274 8910, by e-mail to virve.nurmi@biotie.com or
by mail to Biotie Therapies Corp./Virve Nurmi, Tykistökatu 6, FI-
20520 Turku, Finland.  In case of a proxy, this should be
mentioned when notifying the company of the attendance and the
proxy is requested to be submitted prior to the end of the
notification period to the aforementioned address.

Turku, 7 March 2007

Biotie Therapies Corp.
        
Board of Directors
        
For further information, please contact:
        
Timo Veromaa, President and CEO, Biotie Therapies Corp.
tel. +358 2 274 8901, e-mail: timo.veromaa@biotie.com

www.biotie.com
        
Distribution:
        Helsinki Stock Exchange
        Main Media

Attachments:

proposals of the board to the agm.pdf