Update

RNS Number:8932R
PPL Therapeutics PLC
11 November 2003





Date:               Embargoed until 07.00 am, Tuesday 11 November 2003

Contact:            Chris Greig, Chairman
                    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 ("PPL")


                                     Update


Further to its announcement on 15 September 2003, that the Board of PPL had
decided to pursue an orderly sale of the business, the Board is now able to
provide an update on recent progress made in maximising short-term value for
shareholders.

Consistent with preserving PPL's cash while maintaining the value of PPL's key
assets, staff numbers have been reduced over recent weeks from 55 to 35.  As a
result cash burn will be further reduced to below #0.2 million per month (after
taking account of the benefit of the Group's R&D tax credit).

Since 15 September PPL has held discussions with a large number of parties with
potential interest in acquiring the business or in purchasing assets owned by
PPL.  Discussions concerning the potential sale of the company continue with a
limited number of parties.

The Board believes that a programme of asset disposals can be successfully
pursued in parallel with discussions for the sale of the business and
accordingly, is actively marketing its premises in the UK and New Zealand for
sale.  PPL has already received offers for one of the farm premises in the UK
and for the office building at Roslin and is in the process of agreeing
definitive terms for their sale.  In addition, PPL is scheduling an auction of
pilot plant equipment for early December 2003.  PPL remains in discussion with
additional parties for other packages of assets.

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





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