July 31st, 2008 -- Letter to the Shareholders

Dear Shareholders,

We are pleased to write to you with this first issue of a series of corporate letters we intend to issue on a regular basis and intended to update you on the progress of your company. 2007 and 2008 have been very important years in the development of the company.
HIV/AIDS VACCINE PROGRESS

* Macaques (Primates) Preclinical results in building mucosal antibodies- 90%+ success;
* Macaques Viral Challenge – results to be announced at World AIDS 2008 Conference in South Africa in October 2008;
* Human Clinical Trials – to start before the end of 2008;
* We received a world exclusive licence for a unique mucosal delivery system (adjuvant) for our HIV/AIDS vaccine (approved in 40 countries and used by its owner for two reputable vaccines with over 43 million doses administered without side effects). Using this approved delivery system gives us a considerable "Time-to-market" strategic advantage.

MALARIA VACCINE

* We acquired the worldwide rights to Pevion’s Malaria vaccine delivery system
* Phase I and Phase II Human Clinical Trials completed in Europe (Vaccine with only two antigens showing highly encouraging results such as an extended antibodies’ life to date of 18 months vs. closest competition of 90 days);
* Phase Ib Human Clinical Trial begun with four antigens in Tanzania with children and teenagers- under endemic conditions – Preliminary results anticipated by year-end 2008;
* We received for our Malaria vaccine a world exclusive licence for the same unique mucosal delivery system (adjuvant) as for our HIV-AIDS vaccine as above.

The vaccine world is growing at 16% annually and is expected to reach $20 billion in 2010. We believe there will be opportunities to expand our vaccine portfolio through acquisitions. Large pharmaceutical companies have rediscovered this market and are eagerly vying to increase their limited pipelines, essentially through acquisition of smaller companies such as Mymetics.

Further details can be found on our website www.mymetics.com link "Shareholders letter". The company will hold a Toll Free conference call on August 27th 2008 at 1 PM New York Time USA 866 591 4361 PIN 815 726 and Switzerland +41 800 329 326 PIN 815 726. We are very excited about our future and will keep you as shareholders informed.

Signed Christian Rochet - President and CEO

Signed Ernst Luebke Vice President and CFO