EMM Disclosure

RNS Number:8618H
J.P. Morgan Securities Ld(EMM)
24 February 2003

                                                             FORM 38.5 (SUMMARY)



Lodge with Company Announcements Office and the Panel. Use a separate form for
each class of securities in which dealings have been made.





                        CONNECTED EXEMPT MARKET-MAKERS:

      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS




Name of EMM ...... J.P. Morgan Securities Ltd .................................
....................................

Date of disclosure ...24th February 2003............... ........................
.................................

Contact name ............Sara Moth.................. ...........................
.............................

Telephone number ............020 7325 5808... .................................
..........................



Please see attached disclosure of dealings under Rule 38.5 in the securities of
the following companies:


Cambridge Antibody Technology Group plc




AMENDMENT

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element (s) of previous disclosure was incorrect:



In the case of option business or dealings in derivatives full details should be
given on a separate sheet so that the nature of the dealings can be fully
understood. For options this should include the number of securities under
option, the exercise period (or in the case of exercise, the exercise date), the
exercise price and any option money paid or received. For derivatives this
should include, at least, the number of reference securities to which they
relate (when relevant), the maturity date (or if applicable the closing out
date) and the reference price.







For full details of disclosure requirements see Rules 8 and 38 of the code. If
in doubt contact the Monitoring Section of the Panel,

Tel. No: 020 7638 0129









                        CONNECTED EXEMPT MARKET-MAKERS;

      DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS






Dealing in .....................Cambridge Antibody Technology Group plc...
.......(name of company)

Class of security .......................................Ordinary Shares......
..................................

Date of disclosure .................................24th February 2003.........
.................................

Date of dealing .......................................21st February 2003......
.................................

Name of EMM ....................................J.P. Morgan Securities Ltd......
...........................

Name of offeree/offeror with whom connected .........Cambridge Antibody
Technology Group plc .........



Total number of securities purchased          34,682

Highest price paid*                    4.30 GBP

Lowest price paid*                    4.30 GBP



Total number of securities sold          34,682

Highest price received*               4.32 GBP

Lowest price received*               4.29 GBP



* Currency must be stated






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

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