OXFORD BIOMEDICA PLC

Oxford, England - 17 March 2001. On 12 March 2001, the Board of Oxford BioMedica plc ('Oxford BioMedica') announced that it had applied to the UK Listing Authority for the Company's 172,347,312 Existing Ordinary Shares, and up to 73,699,701 New Ordinary Shares to be issued pursuant to a Placing and an Open Offer, to be admitted to the Official List and for such shares to be admitted to trading on the London Stock Exchange.

The Board of Oxford BioMedica also announced that it proposed to raise additional funding to continue to strengthen the company and to progress its candidate products to a stage where they can generate significant revenues for the Oxford BioMedica Group, through a Placing and an Open Offer.

By 3.00 p.m. on Monday, 9 April 2001, being the latest time for acceptance and payment in full under the Open Offer, acceptances under the Open Offer had been received in respect of 5,277,814 new Ordinary Shares, raising £2,902,798. Of the Offer Shares not taken up by Qualifying Shareholders, 4,704,545 have been placed by Beeson Gregory Limited, as agent for the Company at 55p per share, raising £2,587,500, before expenses.

The Board is also raising approximately £27 million net of expenses by means of the Placing of 54,550,000 new Ordinary Shares at 55p per share. The Placing was fully underwritten by N M Rothschild & Sons Limited and Beeson Gregory Limited jointly.

All resolutions proposed at the Extraordinary General Meeting held on Thursday, 12 April 2001 were passed by Oxford BioMedica Shareholders.

The Company is expected to be admitted to the Official List today, Tuesday, 17 April 2001 when dealings in the Existing Ordinary Shares and the New Ordinary Shares are expected to commence.

Commenting, Alan Kingsman, Chief Executive of Oxford BioMedica, said:
"We are delighted with the outcome of the Placing and Open Offer. In a difficult climate for any company, we have succeeded in completing our largest ever fund raising which will allow us to expand our clinical trial pipeline and intellectual property portfolio, further build on our record of strategic alliances and collaborations and establish our presence in the US with Oxford BioMedica Inc. This is a very exciting new phase for the Company, and we look forward to keeping you informed of our progress going forward."

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N M Rothschild & Sons Limited, which is regulated by The Securities and Futures Authority Limited, is acting as financial adviser and sponsor to Oxford BioMedica plc in connection with the Admission, the Placing and the Open Offer and no one else and will not be responsible to any person other than Oxford BioMedica plc, for providing the protections afforded to its customers or for providing advice in relation to the Admission, the Placing and the Open Offer. Beeson Gregory Limited, which is regulated by The Securities and Futures Authority Limited, is acting as broker to Oxford BioMedica plc in connection with the Admission, the Placing and the Open Offer and no one else and will not be responsible to any person other than Oxford BioMedica plc, as broker, for providing the protections afforded to its customers or for providing advice in relation to the Admission, the Placing and the Open Offer. This announcement is not an offer of securities for sale in the United States and the New Ordinary Shares have not been, and will not be, registered under the United States Securities Act of 1933 (as amended), nor under the laws of any state of the United States, and the relevant clearances have not and will not be obtained from the relevant authorities in Canada, the Republic of Ireland, Australia or Japan. Accordingly, New Ordinary Shares may not be offered, sold or delivered directly, or indirectly in or into such jurisdictions.

For further information please contact:

Oxford BioMedica plc
Professor Alan Kingsman, Chief Executive

Tel: +44 (0)1865 783 000

Tel: +44 (0)20 7606 1244

Scientific/Trade Press Enquiries
Chris Gardner , HCC De Facto Group

Tel: +44 (0)20 7496 3300