Change in Capital Structure

RNS Number:7043M
PPL Therapeutics PLC
24 June 2003


Date:               For immediate release: Tuesday 24th June 2003


Contact:            Geoff Cook, Chief Executive Officer
                    Lindsay Dunsmuir, Chief Financial Officer
                    PPL Therapeutics plc                 Telephone: [phone]


                    Alistair Mackinnon-Musson
                    Philip Dennis
                    Hudson Sandler                      Telephone: [phone]
                                                        Email: [e-mail]



                              PPL Therapeutics plc

             Notification Regarding Change in Capital Structure

At the Annual General Meeting of PPL Therapeutics plc held on Friday 20 June
2003, a resolution was passed approving certain changes to the share capital of
PPL in order to ensure that the nominal value of ordinary shares is below its
current market value.  As a result, the nominal value of each issued and
unissued ordinary share of 50 pence each has been sub-divided into one new
ordinary share of 1 penny and one deferred share of 49 pence.  Each resulting
new ordinary share of 1 penny has essentially the same rights as before the
subdivision.  The number of ordinary shares currently held by each shareholder
has not changed.  The articles of association have also been amended to reflect
the creation of the deferred shares.  The deferred shares will not be listed and
have minimal rights.

                                    - Ends -


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