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Tommy Bowe and Iain Henderson are expected to feature in Ulster's PRO12 run-in.
Bowe tore the posterior cruciate ligament in his right knee during Ireland's World Cup defeat to Argentina and underwent surgery in October, while Henderson suffered a significant hamstring tear in Ulster's Guinness PRO12 win over Edinburgh in December.
Both were ruled out of Ireland's RBS Six Nations campaign and there were suggestions that they would not return before the end of the season.
However, Ulster have announced that both players are making good progress and should be available for selection before the end of the campaign.
"Tommy suffered a posterior cruciate ligament injury (which required reconstructive surgery) whilst representing Ireland at the Rugby World Cup in September. He is making excellent progress ahead of a further review with his surgeon this week," the province said in a statement.
"Iain suffered a significant hamstring tear (left leg) against Edinburgh in December. Following surgery, he has continued to progress well through his rehabilitation and is likely to be involved in Ulster's Guinness PRO12 run-in."
It is unclear when Willie Faloon, Wiehahn Herbst and Dan Tuohy will return from injury, while Nick Williams, Rob Herring and Luke Marshall could return to face Zebre on Friday.