Trading Update

Angle PLC
26 May 2005


Embargoed for 7.00 a.m.                                              26 May 2005




                                   ANGLE plc

                                 TRADING UPDATE



Further to the announcement today of the successful conclusion of negotiations
for Provexis' proposed reverse takeover of Nutrinnovator and funding for the
Enlarged Group, ANGLE plc, the venture management and consulting company
specialising in the commercialisation of technology, is pleased to provide an
update on trading and investment realisations for the year ended 30 April 2005.


Revenue for the year is expected to be not less than £4.0m, at least 39% up on
the previous year.


Operating profits on Consulting & Management are expected to be maintained at or
above the level for the previous year of £0.4m.


Execution of the strategy of investment in the establishment of new Progeny(R)
companies proceeded in line with expectations with planned expenditure to
establish and develop new ventures of some £2.0m being charged to the P&L.  This
is a significant planned increase to the corresponding investment in the
previous year of £0.7m.


The overall gain to ANGLE from the Provexis transaction is £2.0m at the placing
price.  Since the transaction was completed after the year end, it will fall in
the accounting year ended 30 April 2006 rather than in the year just ended as
had been planned.  The internal rate of return (IRR) on ANGLE's investment if it
were to be realised at completion would be 78% per annum.


Following a fall in the share price of AIM-listed Corpora PLC since 31 October
2004, the value of ANGLE's shares in this company (taken as consideration for
the disposal of ANGLE's stake in Progeny(R) company, Exago Ltd) has declined,
resulting in the need for an increase in the provision for the diminution in
value of investments of £0.5m.  Even after this write down, the investment is
still valued at 4.2 times cost and the IRR is 91% per annum.


Since its flotation, ANGLE has built its Progeny(R) pipeline of venture
opportunities under evaluation and established four additional Progeny(R)
companies, which the directors believe may have the potential for substantial
capital growth:

•     ContraSoft - computer software testing technology with the potential for
improvements in productivity, reduced costs and improved software quality;

•     Customiser - internet personalisation technology for the provision of
customised information to the user;

•     Geomerics - rapid computational technology for computer graphics and other
uses;

•     Novocellus - IVF technology for assessing embryo viability.


Progress has also been made in developing the Progeny(R) companies established
before ANGLE's flotation, notably:

•     Acolyte Biomedica has completed the development of its MRSA testing
product and has announced plans to launch the product commercially in the near
future;

•     NeuroTargets has progressed its nerve injury and pain treatments and
secured an alliance with BioFocus plc focused on discovering treatments for
nerve injury and pain;

•     Provexis, in addition to its reverse into Nutrinnovator and related
funding round, has progressed product development and clinical trials of Sirco,
its cardio-vascular health drink and has announced plans for the launch of the
drink in the final quarter of 2005.

Corpora PLC, the AIM listed company in which ANGLE holds shares following the
sale of its Progeny(R) company Exago to Corpora, has recently completed a £3m
placing to fund expansion and announced software product sales to Microsoft and
EDS.


All of the above Progeny(R) companies have been founded by ANGLE and developed
using ANGLE's Progeny(R) process to build value from intellectual property.



Andrew Newland, Chief Executive of ANGLE, said:


'I am pleased with ANGLE's progress in the execution of its ventures investment
strategy and in the development of its underlying Consulting and Management
business.  We believe the Provexis transaction is a further demonstration of the
strength of ANGLE's Progeny(R) process in building value from intellectual
property.'



For further information


ANGLE plc                                                     01483 295830
Andrew Newland, Chief Executive
Dawson Buck, Deputy Chief Executive

Buchanan Communications                                       020 7466 5000
Richard Darby, James Strong




Notes to Editors


Founded in 1994, ANGLE is an international venture management and consulting
company focusing on the commercialisation of technology and the development of
technology-based industry. ANGLE creates, develops and advises technology
businesses on its own behalf and for its clients.





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