Nabi Sends Letter To Stockholders Responding To Mangrove's Statements And Calls On Stockholders To Vote Their White Proxy Card Today

ROCKVILLE, Md., Aug. 23, 2012 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI) announced today that it is sending a letter to its stockholders, a copy of which is included below. The letter is in response to the statements made by Mangrove Partners Fund, L.P. and urges Nabi's stockholders to vote their WHITE proxy card accompanying Nabi's definitive proxy statement, dated August 7, 2012, which was mailed to the stockholders in connection with the special meeting of Nabi's stockholders to be held on September 24, 2012.

Dear Fellow Nabi Stockholder:

We have recently mailed to you a proxy statement regarding the proposed business combination transaction (the "Transaction") between Nabi Biopharmaceuticals ("Nabi") and Biota Holdings Limited ("Biota"). We urge you to read it in its entirety as it contains important information about the Transaction. 

You face an important choice regarding your investment in Nabi. A Special Meeting of Nabi Stockholders will be held on September 24, 2012 (the "Special Meeting") to approve a series of proposals necessary to complete the Transaction. We ask that you attend the Special Meeting or vote by proxy.  Nabi's board of directors has unanimously recommended that you vote in favor of all proposals on the WHITE proxy card.

Nabi's board believes the Transaction is in the best interests of Nabi's stockholders and that the Transaction offers an opportunity for Nabi's stockholders to participate in the growth of the combined company. Nabi's board arrived at this conclusion after conducting a robust and comprehensive strategic process that considered numerous strategic alternatives, including the liquidation of Nabi, in order to maximize stockholder value.

WE BELIEVE THAT MANGROVE'S STATEMENTS AND VIEWS REGARDING THE TRANSACTION ARE CONTRARY TO THE FACTS

You may be aware that Mangrove Partners Fund, L.P. ("Mangrove"), which owns approximately 3.4% of the outstanding shares of Nabi common stock, is opposing the Transaction. We believe that Mangrove, as an arbitrage hedge fund, has invested in Nabi as a liquidation play and that the Transaction doesn't fit their investment thesis.

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