CAT/DRC royalty agreement

RNS Number:3207V
Cambridge Antibody Tech Group PLC
30 April 2002

02/CAT/18

Not for release in Australia, Japan and the Republic of Ireland

Page 1 of 1

FOR IMMEDIATE RELEASE

16:00 GMT, 11:00 EST Tuesday 30 April 2002

For Further Information Contact:

Cambridge Antibody Technology           Weber Shandwick Square Mile (Europe)

Tel: [phone]               Tel: [phone]

John Aston, Finance Director            Kevin Smith

Rowena Gardner, Head of Corporate       Graham Herring
Communications
                                        BMC Communications/The Trout Group (USA)

                                        Tel: [phone]

                                        Brad Miles, ext 17 (media)

                                        Brandon Lewis, ext.15 (investors)

                    CAMBRIDGE ANTIBODY TECHNOLOGY GROUP PLC
                       TERMINATES ROYALTY AGREEMENT WITH
                         DRUG ROYALTY CORPORATION INC.

Melbourn, UK and Toronto, Canada... Following Inwest Investment Ltd. acquiring
control of Drug Royalty Corporation Inc. ("DRC") (TSE: DRI), as announced by DRC
today, Cambridge Antibody Technology Group plc ("CAT") (LSE: CAT; NASDAQ: CATG)
and Cambridge Antibody Technology Limited ("CAT Limited") have today provided
written notice to DRC to terminate CAT Limited's royalty agreement with DRC (the
"Royalty Agreement"). In accordance with the terms of the Royalty Agreement, as
amended by CAT, CAT Limited and DRC on 16 January 2002 in connection with CAT's
offer to acquire all of the outstanding common shares of DRC, CAT has elected to
pay the C$14 million termination payment to DRC through the allotment of 463,818
CAT ordinary shares of 10 pence each (the "Shares").

Application has been made to the UK Listing Authority for the admission of the
Shares to the Official List, and to the London Stock Exchange for these
securities to be admitted to trading.

                                -ENDS-


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