Acquisition

RNS Number:1679P
Goldshield Group PLC
24 December 2001


For Immediate Release                                       24 December 2001


                              Goldshield Group PLC

Acquisition of sales, marketing and distribution rights to Diamox from
American Home Products

Goldshield Group plc ("Goldshield") today announces the acquisition (the "
Acquisition") of sales, marketing, distribution rights and associated
intellectual property in Diamox (the "Rights") from the Wyeth division of
American Home Products Inc. ("Wyeth") for a total consideration of #4.9
million in cash.

In addition Goldshield will acquire stock at an approximate cost of #1.0
million.

Diamox, is a carbonic anhydrase inhibitor and is the only product taken orally
in its class. Diamox was originally introduced as an orally active diuretic.
Subsequently it has been found to be effective in the non-surgical treatment
of glaucoma, a major cause of sight loss, and  in the treatment of epilepsy.

Goldshield is acquiring Diamox tablets, Diamox SR capsules and Diamox
Injection. Initial markets for which the Rights have been acquired are Western
Europe (excluding Italy, Spain and Portugal) and South Africa. Goldshield is
also acquiring an option to obtain certain additional markets in Eastern
Europe and the Middle East at no additional cost.  Additionally, Wyeth will
continue to manufacture Diamox for a transitional period.

The consideration of #4.9 million is payable in three equal instalments of #
1.63 million, the first of which is payable upon completion. The second and
third instalments are payable on the first and second anniversaries of
completion.  The net assets attributable to the Acquisition are #4.9 million.
Net sales for the territories in which the Rights are being acquired for the
year to 31 December 2000 were approximately #4.1 million.  Operating under
Wyeth's charging structure and cost base, the profit for the year to 31
December 2000 was approximately #100,000 after tax.

Ajit Patel, Executive Chairman of Goldshield Group PLC, said:

"Diamox closely fits the Goldshield acquisition strategy, being a niche
product capable of further development and will strengthen our presence in key
markets."


                                   - END -

For Further Information Please Contact:


Goldshield Group PLC                       Tel: [phone]
Ajit Patel, Executive Chairman
Rakesh Patel, Finance Director

Buchanan Communications                    Tel: [phone]
Nicola How/Louise Bolton


Notes to editors:


Goldshield Group PLC a profitable, British, marketing-led, emerging
pharmaceutical company based in Croydon, Surrey, was founded in 1990, to sell
healthcare and pharmaceutical products internationally.  In June 1998 Group
floated on the London Stock Exchange and currently has a market capitalisation
of around #200 million.