Signed Licensing Agreement

RNS Number:7655K
Henderson Morley PLC
07 May 2003


                              HENDERSON MORLEY PLC

                                     (AIM)

                            Business: Drug Discovery


     HENDERSON MORLEY SIGNS PATENT LICENCE AGREEMENT WITH CROMA PHARMA GmbH


The Board of Henderson Morley plc ("Henderson Morley" or "The Company") is
pleased to announce that it has today completed its negotiations with Croma
Pharma GmbH ("Croma"), which were previously announced on 9 December 2002, and
has issued a patent licence for the development of the eye application of ICVT
(Ionic Contra Viral Therapy).

The licence granted is an exclusive licence to manufacture and sell the product
in a number of agreed territories. Croma will carry out and fund all clinical
trials of the products and, on successful conclusion of the trials, will apply
for all necessary product licences, manufacturing and marketing authorisations
in the territories in accordance with a time schedule to be agreed.

Territories covered in the agreement include Europe, Mexico, Central and South
America.

Croma will commence Phase 2 clinical trials as soon as possible and protocols
for the trials have been agreed between the Company and Croma.

In addition, Croma will pay to Henderson Morley royalties calculated at the
Royalty rate payable in each country of the territories and in respect of each
product licenced.

Croma has also agreed to subscribe for 3,340,000 ordinary shares at a price of
1.5p per share. The shares will be admitted to trading on AIM shortly.

Commenting Martin Prinz, Vice President of Croma Pharma GmbH said: "We are very
pleased to have finalised our agreement with Henderson Morley. We have been
looking for a treatment for Adenovirus for some considerable time and have been
very impressed with the data supplied to us. We look forward to working together
with Henderson Morley to bring this treatment to market".


Andrew Knight, chairman of Henderson Morley added: "We are delighted to welcome
Croma on board not only as partners but as shareholders too. Now that we have
finally concluded this first licence for Henderson Morley, we look forward to
being able to conclude others for the ICVT pipeline and therefore enhance
shareholder value".


                                      Ends


Copies of this announcement will be available free of charge to the public at
the Company's registered office at Metropolitan House, 2 Salisbury Road,
Moseley, Birmingham, B13 8JS and at the offices of Brewin Dolphin Securities
Ltd, 34 Lisbon Street, Leeds LS1 4LX for 14 days.


Enquiries:

HENDERSON MORLEY PLC                                      Tel: [phone]
Andrew Knight, Chairman


BREWIN DOLPHIN SECURITIES LTD                             Tel: [phone]
Neil Baldwin


BARNES AND WALTERS LTD                                    Tel: [phone]
Maxine Barnes                                            Mobile [phone]

Notes to Editors:

About Croma

Pharmacists G and K Prinz founded Croma in 1976 for the purpose of importing
emergency drugs. In 1986 it began distributing pharmaceuticals for eye diseases
and ophthalmological diagnostic instruments, and over the last decade Croma has
established a wide range of products and services that has cemented its position
as one of the leading European companies in the field of ophthalmics.

Croma has also established a large-scale GMP (Good Manufacturing Practice)
accredited manufacturing facility for ophthalmic products, which were
distributed throughout the territories.

With its distribution of Intra Ocular Lenses, Viscoelastics, ophthalmic lasers
and surgical instruments, Croma has established itself as a respected specialist
in the area of Cataract Surgery. In recent years Croma has, in collaboration
with the Institute of Pharmaceutical Technology and Biopharmaceutics at the
University of Vienna, developed various novel biopolymer derivatives for use in
the eye.


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