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Announcement regarding press comment

Further to today's article in the Financial Times the board of Cyprotex would like to confirm that, as published in its prospectus dated 12 February 2002, Gilbert Eliott, acting as broker to the Company, raised £6.5 million (before expenses) from institutional and other investors. Dresdner Kleinwort Wasserstein Securities Limited was a significant investor under this placing however at that time the Company had no knowledge that this investment was related to any spread betting. Paul Davidson, whilst a major shareholder, is not a director of Cyprotex.

The directors of the Company are pleased with progress to date and following flotation it has incorporated a subsidiary company in the United States and Cyprotex announced on 7 March 2002 that it had won a significant rolling contract with a UK biotechnology company.

- Ends -


Phil Adams

Altium Capital Limited
Tel: +44 (0) 161 831 9133

Henry Harrison-Topham
Tel: +44 (0) 20 7444 4141

Bankside Consultants Limited

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