RNS Number:7876M
Medical Marketing Int'l Group PLC
26 June 2003


Meetings today:


There will be an Update Meeting for MMI today at 1245 pm in the offices of
Buchanan Communications, 107 Cheapside, London EC2V. If you would like to attend
please call Lisa Baderoon or Charlie Forsyth at Buchanan Communications on 020
7466 5000.

FOR IMMEDIATE RELEASE                                             26 JUNE 2003


MMI Group


                 FIRST TWO INVESTMENTS FOR BIOSCIENCE VCT FUND

                - Profits already realised on first investment -


Medical Marketing International Group plc, (MMI) the AIM listed technology
management company with headquarters in Cambridge, has today confirmed that the
BioScience VCT ("BSVCT"), the bioscience-specific venture capital trust to which
MMI is Technology Advisor, has made its first two investments.


As previously announced, BSVCT decided to retain most of its fund on deposit in
its first year, principally as it felt that values of young biotechnology
companies were still in decline. However, with the improvement within the
biosciences sector, BSVCT has now commenced its investment phase. GTC
Biotherapeutics, the US based specialist in antibody production in transgenic
animals was the first investment. The fund invested at a price of $1 per share.
The share price has since risen to in excess of $3 per share. BSVCT has taken
advantage of this surge in the price and has sold half of its holding of 50,000
shares in GTC, generating a profit of approximately 240%.


The second investment and this time in the UK, has been made into Cobra
Biomanufacturing, the AIM listed manufacturer of DNA products for pharmaceutical
and biotechnology companies. BSVCT has subscribed for 100,000 shares at #0.80
per share in Cobra's recent 6.5 million share placing. In the 6 months to the
end of March 2003, Cobra generated a profit before tax of almost #0.5m. Cobra
has stated that it intends to use the proceeds of the placing to expand its
operations through the purchase of another manufacturing facility. This
investment is expected to be a qualifying investment under VCT rules.


John Hustler, Finance Director of MMI and the MMI representative on the BSVCT
board said: "'We are delighted that BSVCT is now in its investment phase and is
able to announce to shareholders an early success. The key driver for BSVCT
though is to invest in exciting innovative and reasonably valued businesses
which have the potential of providing BSVCT with above average returns in due
course. We are pleased with the current dealflow in this sector and hope to
announce further investments shortly"


For further information, please contact:

John Hustler
Finance Director
MMI Group plc                                          Tel: +44(0)1223 477 677

Lisa Baderoon
Buchanan Communications                                Tel: +44 (0)20 7466 5000



Background on BioScience VCT


The BioScience VCT was established by MMI Group to enable investors to have a
stake in a portfolio of emerging biomedical companies whilst enjoying the tax
wrapper of a venture capital trust.


The BioScience VCT is believed to be the first bioscience-specific venture
capital trust. MMI believes that it is difficult for individual investors to
assess biotechnology businesses as this involves a broad range of technical
skills. The BioScience VCT brings together the skills within MMI Group,
Technical Advisor to the Fund, with those of Octopus Asset Management, the
former pharmaceutical and biotechnology team at Merrill Lynch, which is Fund
Manager to the BioScience VCT.


BioScience VCT was launched in October 2001 and raised approximately #7 million
in its first season. However, unlike traditional non-specialist VCT's, the
BioScience VCT sees itself as a "super isa" whereby many investors can invest in
a portfolio of biomedical businesses and receive significant tax benefits and is
therefore not just aimed at investors looking to shelter large capital gains at
the end of a financial year.






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

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