Share Placing

RNS Number:2349R
M.L. Laboratories PLC
23 October 2003


                                                                 23 October 2003
                                        
                    SUCCESSFUL PLACING OF 54.4 MILLION SHARES


The Company has today been informed that HSBC Bank plc has sold its entire
holding of 54,400,000 ordinary shares of 1p each in the Company (34.4% of the
ordinary issued share capital).

The shares were sold at 25p and the Company understands that the shares have
been purchased by a number of institutional investors.

Stuart Sim, Chairman, commented:

"I am delighted with the successful placing by our brokers Panmure of the stake
of our former Chairman and by the strong support shown for the Company by
institutional investors, many of whom we understand are new shareholders to the
Company. I welcome these new institutions and look forward to working with them
and our existing shareholders over the long term."

                                    - Ends -

For further information please contact:

ML Laboratories PLC                                               01925 844 700
Stuart Sim, Chairman
Peter Shennan, Chief Operating Officer

Weber Shandwick Square Mile                                       020 7067 0700
Kevin Smith
Rachel Lankester


Note to Editors:

ML is a biopharmaceutical product development company with a track record of
successful clinical development, regulatory approval and licensing of
pharmaceutical products and a pipeline of future products targeted at specialist
markets. ML's activities are supported by a growing income stream from marketed
products it has successfully developed and licensed to other pharmaceutical
companies, which include Baxter, Shire and Celltech.

New therapeutic products in clinical development include cancer treatments, a
pain management compound prepared to enter Phase III studies, a preventative of
sexually transmitted infections, including HIV, and a phosphate binder to assist
the management of kidney failure. ML's portfolio of early stage development
projects includes unique polymer/drug molecules to provide safer and more potent
cancer chemotherapy and technologies for use in the discovery and manufacture of
biotechnology products.

In addition ML provides inhaled drug delivery solutions to the global
pharmaceutical industry through its dedicated respiratory subsidiary Innovata
Biomed.

More information about ML Laboratories PLC can be found at www.mllabs.co.uk




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

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