CAT Catco Reinsurance Opportunities Fund Limited

RNS Number:2399E
Cambridge Antibody Tech Group PLC
21 January 2000


For Further Information Contact:
Cambridge Antibody Technology Group plc
Dr David Chiswell, Chief Executive Officer       
John Aston, Finance Director
Diane Mellett, Company Secretary, VP Legal Affairs   Tel: +44 (0) 1763 263233

HCC.De Facto
City/Financial, Sue Charles/Rebecca Hennessey                                 
Tel: +44 (0) 171 496 3300
              
     
RESULT OF EXTRAORDINARY GENERAL MEETING 


Melbourn, UK  Cambridge Antibody Technology (CAT) announced that at the
Extraordinary General Meeting held today the resolution to authorise the
directors to issue shares to Monsanto Europe SA (MESA) in connection with the
collaboration and subscription agreements entered into with GD Searle and MESA
(its affiliate) on 23 December 1999 was passed.

It is expected that the 1,870,837 new ordinary shares to be issued to MESA
will be listed on Thursday 27 January 2000.

Notes:

Cambridge Antibody Technology (LSE: CAT) is a UK biotechnology company using
its proprietary technologies in fully human monoclonal antibodies for drug
discovery and drug development.  Based in Melbourn, 10 miles south of
Cambridge, England, CAT currently employs around 150 people.  In March 1997,
CAT completed its initial public offering and listing on the London Stock
Exchange, raising approximately #41 million.

CAT has a world-leading platform technology for rapidly isolating fully human
monoclonal antibodies using phage display systems.  CAT has an extensive phage
display antibody library, currently incorporating around 100 billion distinct
antibodies. This library forms the basis for the company's strategy to develop
a portfolio of clinical development programmes and for discovering new drug
leads using functional genomics.  Four fully human therapeutic antibodies
developed by CAT are at various stages of clinical trials. 

CAT has a number of license and collaborative agreements in place with
pharmaceutical and biotechnology companies including: Eli Lilly, Pfizer, BASF
Pharma, Genentech, ICOS Corporation, Genetics Institute/BASF Pharma,
Wyeth-Ayerst, Human Genome Sciences, AstraZeneca and Searle.


END

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