Disposal

RNS Number:7521T
PPL Therapeutics PLC
31 December 2003

                                   PPL Therapeutics plc


For immediate release                                      31 December 2003


                          PPL Therapeutics plc ("PPL")
                  Disposal of the NT intellectual property



PPL announces that it's subsidiary, PPL Therapeutics (Scotland) Limited, has
entered into unconditional agreements to dispose of its in-licensed rights to
the Roslin Institute's nuclear transfer patents and the related know-how (the "
NT intellectual property") to Exeter Life Sciences, Inc. ("Exeter").  The
consideration of $1.35 million (#0.76 million), which is payable in cash, is
expected to be received from Exeter today.

The NT intellectual property was used by PPL to create cloned sheep, but has not
been used in its product development programmes. PPL had fully expensed the
costs associated with developing the NT intellectual property; as such the net
book value of the NT intellectual property at 30 June 2003 was #nil.  Therefore,
the sale of the NT intellectual property gives rise to an estimated gain on
disposal of #0.76 million.

The proceeds receivable of #0.76 million less tax and selling expenses will be
used to supplement PPL's existing cash resources with a view to maximising
short-term value for shareholders.

 PPL will continue to provide further updates to shareholders at the appropriate
time.



Contact:           Chris Greig, Chairman
                   Adam Christie, Business Development Director

                   PPL Therapeutics plc
                   Telephone: [phone]


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




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

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