CAT Catco Reinsurance Opportunities Fund Limited

RNS No 2948f
CAMBRIDGE ANTIBODY TECHNOLOGY GROUP
27th November 1998

Staff Share Scheme

On November 27 1998 the Company issued an additional 44,800 10p ordinary shares
(0.19% of the issued class) to its wholly owned subsidiary CAT Group
Employees Trustees Limited the Corporate trustee of an Inland Revenue approved
Staff Share Scheme. The Corporate trustee will hold the shares for the benefit
of the eligible employees pursuant to the terms of the Scheme. The Directors
of the Corporate Trustee are John Aston Sir Aaron Klug and Peter Garland all of
whom are directors of the Company. A separate announcement has been made today
regarding the holding of executive directors as a result of the operation of
the Scheme.

END


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