CORVALLIS, OR–(EMWNews – August 7, 2008) – AVI BioPharma, Inc. (NASDAQ: AVII), a

developer of RNA-based drugs, today announced that the Company will hold a

conference call to report its second quarter 2008 financial results on

Monday, August 11, 2008, at 9:30 a.m. Eastern time (6:30 a.m. Pacific

time).

Individuals interested in listening to the live conference call may do so

by dialing 877.704.5378 toll free within the United States and Canada, or

913.312.1268 for international callers.

Following the conference call, a recording of the call will be available

for download on the company’s website: www.avibio.com.

About AVI BioPharma

AVI BioPharma is focused on the discovery and development of RNA-based

drugs using the company’s expanded portfolio of proprietary antisense

compounds (PMOs). The company’s technology applications leverage distinct

mechanisms of action in a range of genetic diseases, genetic disorders and

the genetic code of disease-causing organisms. The emerging field of

directed alternative RNA splicing represents AVI’s newest and most exciting

application based on the company’s core antisense technology. Functional

attributes of this approach may include correcting genetic defects (RNA

mutations; which AVI believes could produce promising treatments for

Duchenne muscular dystrophy), coding for novel soluble receptors (an

exciting and novel approach which could have application in the treatment

of inflammatory diseases such as rheumatoid arthritis), and the reduction

in activity of immune modulators in disease states (currently being applied

to IL-10). AVI’s RNA-based drug programs also include blocking mRNA

translation. In AVI’s biodefense program, this application has been

successful against the single-stranded RNA viruses Ebola Zaire and Marburg

Musoke in non-human primates and may have value against other viral targets

such as HCV, Dengue, Junin, influenza and RSV viruses. This application

also will be evaluated in the clinic for the treatment of cardiovascular

restenosis by our partner Cook Medical. More information about AVI is

available at 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.