TED Ted Baker Plc

RNS Number:5889G
Tepnel Life Sciences PLC
9 July 2001

TEPNEL LIFE SCIENCES PLC ("Tepnel" or "the Company")

9 July 2001

RESULT OF OPEN OFFER AND EGM

The Open Offer of 25,994,499 New Ordinary Shares closed at 3.00 pm on Thursday
5 July 2001. Valid applications have been received under the Open Offer for
1,891,259 New Ordinary Shares at the Offer Price of 20p. This represents a
7.28 per cent. take up of those New Ordinary Shares available under the Open
Offer. The balance of 24,103,240 New Ordinary Shares will be allocated to
placees procured by Old Mutual Securities.

At the Extraordinary General Meeting of the Company held this morning, the
resolution to allow Tepnel to implement the Placing and Open Offer was duly
passed.

Admission and dealings in the New Ordinary Shares of the Company on AIM are
expected to commence on 16 July 2001.

For further information, please contact:

Tepnel Life Sciences plc 0161 946 2200

Benjamin Matzilevich, Chief Executive

Old Mutual Securities  020 7002 4600

Guy Peters

Hudson Sandler  020 7796 4133

Piers Hooper

END

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