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15 May 2003

Cancellation of Options

On the 13 May 2003, the Chief Operating Officer, Mr John Nicholson, waived his entitlement to an option to acquire 2,048,276 ordinary shares of 0.1 pence each in the Company at an exercise price of 29 pence per share, which was granted to him on 7 February 2002.

News Contact:

Robert Morrisson Atwater, Chairman & CEO
+44 1625 505 152
ir@cyprotex.com
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