JATT Acquisition Corp Announces Planned Transfer of Listing to NASDAQ in Connection with its Proposed Business Combination with Zura Bio Limited LONDON, UK

JATT Acquisition Corp Announces Planned Transfer

of Listing to NASDAQ in Connection with its Proposed Business Combination with Zura Bio Limited

LONDON, UK, March 13, 2023 - JATT Acquisition

Corp (NYSE: JATT, JATT.WS and JATT.U) (the "Company"), a publicly-traded special purpose acquisition company, today announced

that it will voluntarily transfer the listing of its Class A ordinary shares, public warrants and units from the New York Stock Exchange

("NYSE") to the Nasdaq Stock Market LLC ("Nasdaq") in connection with, and upon the closing of, the previously

announced business combination (the "Business Combination") with Zura Bio Limited, a limited company incorporated under the

laws of England and Wales ("Zura").

The Company expects that listing and trading of its listed securities

on the NYSE will end at market close on March 20, 2023. The Class A ordinary shares and warrants of the post-business combination company,

to be renamed Zura Bio Limited., are anticipated to begin trading on Nasdaq at market open on March 21, 2023 under the ticker symbols

In compliance with NYSE's Listing Rules,

the Company provided NYSE with notice of its intent to delist its Class A ordinary shares and public warrants from the NYSE on March 10,

2023. The Nasdaq listing and NYSE delisting are subject to the closing of the Business Combination and fulfillment of all Nasdaq listing

Important Information

Neither the SEC nor any state securities commission

has approved or disapproved of the securities to be issued in connection with the Business Combination, or determined if the Registration

Statement is accurate or adequate.

About Zura Bio Limited

Zura is a clinical-stage biotechnology company

advancing two primary assets, ZB-168 in Alopecia Areata and other inflammatory diseases and torudokimab in both chronic obstructive pulmonary

disease (COPD) and asthma. ZB-168 is an anti IL7R inhibitor that has the potential to impact diseases driven by IL7 and TSLP biological

pathways. Zura aims to develop a portfolio of therapeutic indications for ZB-168, and is focused on demonstrating its efficacy, safety,

dosing convenience and mechanism of action, initially in Alopecia Areata. This will build on Phase 1b data in Type 1 Diabetes demonstrating

a favorable safety profile and strong biological rationale. Torudokimab is a fully human, high affinity monoclonal antibody that neutralizes

IL33 and is currently at Phase 2 clinical development stage. IL33 is a validated drug target in both chronic obstructive pulmonary disease

(COPD) and asthma. Zura is headquartered in London, UK.

About JATT Acquisition Corp

JATT is a blank check company formed for the

purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination

with one or more businesses. The focus of the team is to pursue a business combination within the life sciences and biotechnology

sectors. Management is led by Dr. Someit Sidhu, Chairman and Chief Executive Officer, and Verender S. Badial, Chief Financial

Additional information and Where to Find It

In connection with the proposed business combination,

on August 22, 2022, JATT filed a registration statement on Form S-4 (the "Form S-4") with the Securities and Exchange Commission

(the "SEC"). The Form S-4, as amended from time to time, includes a proxy statement of JATT and a prospectus of Zura, referred

to as a proxy statement/prospectus. The proxy statement/prospectus is being sent to all JATT shareholders. Additionally, JATT will file

other relevant materials with the SEC in connection with the proposed business combination. Copies of the Form S-4, the proxy statement/prospectus

and all other relevant materials filed or that will be filed with the SEC may be obtained free of charge at the SEC's website at www.sec.gov.

Before making any voting or investment decision, investors and security holders of JATT are urged to read the Form S-4, the proxy statement/prospectus

and all other relevant materials filed or that will be filed with the SEC in connection with the proposed business combination because

they will contain important information about the proposed business combination and the parties to the proposed business combination.

Participants in Solicitation

JATT, Zura and their respective directors and

executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of JATT's shareholders in connection

with the proposed business combination. Investors and security holders may obtain more detailed information regarding the names and interests

in the proposed business combination of JATT's directors and officers in JATT's filings with the SEC, including JATT's initial public

offering prospectus, which was filed with the SEC on July 13, 2021, JATT's subsequent quarterly reports on Form 10-Q, annual reports on

Form 10-K and the Form S-4. To the extent that holdings of JATT's securities by JATT's insiders have changed from the amounts reported

therein, any such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Information

regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to JATT's shareholders in connection

with the business combination are included in the proxy statement/prospectus relating to the proposed business combination. You may obtain

free copies of these documents as described in the preceding paragraph.

No Offer or Solicitation

This communication shall not constitute a proxy

statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business

combination. This communication shall also not constitute an offer to sell or a solicitation of an offer to buy any securities of JATT

or Zura, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful

prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be

made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Forward-Looking Statements

This communication includes

"forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities

Litigation Reform Act of 1995 with respect to the proposed business combination between JATT and Zura. Words such as

"expect," "estimate," "project," "budget," "forecast," "anticipate,"

"intend," "plan," "may," "will," "could," "should," "believe,"

"predict," "potential," "continue," "strategy," "future," "opportunity,"

"would," "seem," "seek," "outlook" and similar expressions are intended to identify such

forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that

are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the

actual results to differ materially from the expected results. These statements are based on various assumptions, whether or not

identified in this communication. These forward-looking statements are provided for illustrative purposes only and are not intended

to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact

or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. These

forward-looking statements include, without limitation, Zura's and JATT's expectations with respect to anticipated financial impacts

of the proposed business combination, the satisfaction of closing conditions to the proposed business combination, and the timing of

the completion of the proposed business combination. You should carefully consider the risks and uncertainties described in the

"Risk Factors" section of JATT's Form 10-K and initial public offering prospectus, and its subsequent quarterly reports on

Form 10-Q. In addition, there will be risks and uncertainties described in the Form S-4 and other documents filed by JATT from time

to time with the SEC. These filings would identify and address other important risks and uncertainties that could cause actual

events and results to differ materially from those contained in the forward-looking statements. Many of these factors are outside

Zura's and JATT's control and are difficult to predict. Many factors could cause actual future events to differ from the

forward-looking statements in this communication, including but not limited to: (1) the outcome of any legal proceedings that may be

instituted against JATT or Zura following the announcement of the proposed business combination; (2) the inability to complete the

proposed business combination, including due to the inability to concurrently close the business combination and related

transactions, including the private placement of ordinary shares or due to failure to obtain approval of the shareholders of JATT;

(3) the risk that the proposed business combination may not be completed by JATT's business combination deadline and the potential

failure to obtain an extension of the business combination deadline if sought by JATT; (4) the failure to satisfy the conditions to

the consummation of the proposed business combination, including the approval by the shareholders of JATT, the satisfaction of the

minimum cash requirement following any redemptions by JATT's public shareholders and the receipt of certain governmental and

regulatory approvals; (5) delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory

approvals or complete regulatory reviews required to complete the proposed business combination; (6) the occurrence of any event,

change or other circumstance that could give rise to the termination of the business combination agreement; (7) volatility in the

price of JATT's or the combined company's securities; (8) the risk that the proposed business combination disrupts current

plans and operations as a result of the announcement and consummation of the business combination; (9) the inability to recognize

the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the

ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain

key employees; (10) costs related to the proposed business combination; (11) changes in the applicable laws or regulations; (12) the

possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; (13) the

risk of downturns and a changing regulatory landscape in the highly competitive industry in which Zura operates; (14) the impact of