Divestment of subsidiary

    RNS Number : 5992E
  Medical Marketing Int'l Group PLC
  30 September 2008
   

    New lease arrangements provide £250,000 annual cost savings

    Tuesday 30 September 2008 - Medical Marketing International Group plc ("MMI" or the "Company") (AIM:MMG), the life sciences company
focused on the development of drugs for cancer, today announces the divestment of its wholly owned subsidiary, Bioscience Innovation Centre
Limited ("BIC"), to Turnstone Estates Limited ("TEL").

    The principal activity of BIC is the management of The Bioscience Innovation Centre, a 25,000 square foot bioscience office and
incubator facility located in Cambridge, which includes the LabHotel® service offering. BIC currently leases The Bioscience Innovation
Centre from TEL under a non-cancellable operating lease agreement that expires in 2024. 

    Under the terms of the transaction:
    *     TEL has paid MMI cash consideration of £1;
    *     MMI has entered into a new lease for 7,400 square foot of space in The Bioscience Innovation Centre for a minimum of five years;
and
    *     MMI has agreed to pay BIC (under its new ownership) a fee of £100,000 on completion and £100,000 by 30 June 2009.

    Commenting on the transaction, Rob Sprawson, Chief Financial Officer, said: "This transaction, which is another significant component of
our cost efficiency programme, has facilitated the disposal of our excess space whilst retaining not only our current laboratory services
revenue stream but also our fully furnished and equipped laboratories. Following the transaction, recurring costs will be reduced by more
than £250,000 each year and we will apply these savings to the further development of our lead oncology programmes."

    Enquiries:

 Medical Marketing International Group plc
 Phil Cartmell, Non-executive Chairman      Tel: [phone]
 Mark Burton, Chief Technical Officer
 Rob Sprawson, Chief Financial Officer

 FinnCap
 Sam Smith/Charlie Cunningham               Tel: [phone]

 Financial Dynamics
 David Yates/Emma Thompson                  Tel: [phone]


    About MMI
    Medical Marketing International Group plc ("MMI") is a life sciences company that identifies, acquires and develops world-class
compounds and technologies for the treatment of cancer. The Company manages the preclinical and early clinical development of drug
candidates before pursuing licensing partners to manage late-stage development. Please visit www.mmigroup.co.uk for further information.

    Notwithstanding the inclusion on this release by MMI of a website address and/or another electronic address, MMI does not accept any
notices or any other documents or communication via its website or other electronic address. All such notices, documents or communication
shall be in hard copy format only. Accordingly the provisions of section 333 Companies Act 2006 allowing persons to communicate with MMI
electronically shall not apply to MMI.

    -ends-

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