Issue of Equity

RNS Number:4982A
GW Pharmaceuticals PLC
29 August 2002


Embargoed until 0700                                              29 August 2002


                             GW Pharmaceuticals plc
                            ("GW" or "the Company")

            GW Raises #4.5 Million In New Share Issue To Commercialise
                             Dispensing Technology

GW Pharmaceuticals plc, the company licensed by the Home Office to develop
prescription medicines from cannabis and other controlled drugs, announces that
it has raised #4.47 million (#4.45 million net of expenses) through the issue
for cash of 4,097,185 new ordinary shares ("the New Shares").  The New Shares,
which represent 4.27% of GW's issued share capital prior to the issue, were
issued at a price of #1.09 per share to funds managed by Troy Asset Management.
Proceeds from the share issue will be used primarily to support the
commercialisation of GW's Advanced Dispensing System ("ADS") technology.

ADS is a novel secure drug dispensing technology which provides high levels of
security for dispensing drugs and also provides clinicians with the ability to
monitor drug use remotely.  The ADS technology was originally developed by GW
for use with its cannabis-based medicines. GW recently announced that ADS is
being evaluated by the National Addiction Centre for use in the dispensing of
methadone and diamorphine in the treatment of drug addiction. The ADS technology
has been endorsed by the Home Office and has broad commercial potential.

Dr Geoffrey Guy, Executive Chairman of GW, commented: "The demonstration of GW's
Advanced Dispensing System earlier this summer has generated a considerable
amount of interest and enthusiasm from investors and physicians alike.

"The newly developed ADS technology presents opportunities over and above our
medicinal cannabis programme.  We therefore felt it prudent to raise additional
funds now to capture the full potential of this new and exciting part of our
business. The additional #4.5 million investment increases our total cash
balance to approximately #21 million and further enhances GW's strong financial
position."

Application will be made for the New Shares to be admitted to the Alternative
Investment Market.  Such admission is expected to become effective on 4
September 2002.

                                    - Ends -

Enquiries:

GW Pharmaceuticals plc                                  (29/08/02) 020 7950 2800
Dr Geoffrey Guy, Executive Chairman                   (Thereafter) 01980 557 000
Justin Gover, Managing Director

Weber Shandwick Square Mile                                        020 7950 2800
Kevin Smith/Graham Herring


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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