RNS No 5615n
THERAPEUTIC ANTIBODIES INC.
7th September 1998


THERAPEUTIC ANTIBODIES INC (the "Company")

Directors' Interest in Shares

Under the terms of a deed dated 1 September 1998, Mr Stuart Wallis, the newly
appointed non-executive Chairman of the Company, has been granted the right to
receive a performance related payment equal in value to a maximum of ten
percent of the increase in the market capitalisation of the Company above its
market capitalisation subsequent to his appointment, to be satisfied by the
allotment of shares of common stock in the Company. 

Mr Wallis will become entitled to receive the maximum ten percent of the
increase only if the growth in the market capitalisation of the Company, when
compared with the growth in market capitalisation of the companies
constituting the FTSE Smallcap index at the date of grant and exercise, ranks
in the top quartile. Mr Wallis will receive nothing if the Company is in the
median position, but his entitlement will increase  on a straight-line basis
between the median position and the position representing the 25th percentile.

The award may be exercised in two tranches following the second and third
anniversaries of the agreement, but if Mr Wallis exercises the award following
the second anniversary, the comparator group and market capitalisation are
reset for the purposes of calculating the entitlement on a future exercise.

Enquiries : 

Dr Andrew Heath, Chief Executive Officer, Therapeutic Antibodies Inc 
Tel : 0171 606 8637

William Clutterbuck, The Maitland Consultancy
Tel : 0171 379 5151

END

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