CAT-354 Progress

Cambridge Antibody Tech Group PLC
08 September 2004


04/CAT/11

FOR IMMEDIATE RELEASE

07.00 BST, 02:00 EST Wednesday 8 September 2004

For further information contact:
Cambridge Antibody Technology                      Weber Shandwick Square Mile (Europe)
Tel: [phone]                          Tel: [phone]
Peter Chambre, Chief Executive Officer             Kevin Smith
David Glover, Chief Medical Officer                Sarah MacLeod
Rowena Gardner, Director of Corporate
Communications
                                                   BMC Communications/The Trout Group (USA)
                                                   Tel: [phone]
                                                   Brad Miles, ext 17 (media)
                                                   Brandon Lewis, ext 15 (investors)

NEW DRUG CANDIDATE FOR SEVERE ASTHMA FROM CAMBRIDGE ANTIBODY TECHNOLOGY STARTS
CLINICAL TRIALS

Cambridge, UK Cambridge Antibody Technology  (LSE: CAT; NASDAQ: CATG) today
announces that it will be starting a Phase I clinical trial of CAT-354, a human
anti-IL-13 monoclonal antibody, which is a potential treatment for severe
asthma, following recent approval from the Medicines and Healthcare products
Regulatory Agency (MHRA).

The Phase I trial is a placebo-controlled, rising single intravenous dose study
of CAT-354 and will take place in the UK at the Marix Drug Development Clinical
Research Centre, Llantrisant, South Wales. The objectives of the trial will be
to study the safety, tolerability and pharmacokinetics of CAT-354. Patient
enrolment is expected to commence shortly and the results of the trial are
likely to be available during the second quarter of 2005.

Dr. David Glover, CAT's Chief Medical Officer, comments: The initiation of this
clinical trial represents a further milestone in the development of CAT as a
biopharmaceutical company. CAT-354 is the fourth human monoclonal antibody that
we have taken into clinical trials ourselves and makes a total of 11 human
antibody drug candidates discovered using our technology that have entered
clinical development. We are very optimistic about CAT-354 as a potential
treatment for severe asthma.

- ENDS -

Notes to Editors

Cambridge Antibody Technology (CAT):

CAT is a biopharmaceutical company using its proprietary technologies and
capabilities in human monoclonal antibodies for drug discovery and drug
development. Based near Cambridge, England, CAT currently employs around 270
people.

CAT is a leader in the discovery and development of human therapeutic antibodies
and has an advanced proprietary platform technology for rapidly isolating human
monoclonal antibodies using phage display and ribosome display systems. CAT has
extensive phage antibody libraries, currently incorporating more than 100
billion distinct antibodies. These libraries form the basis for the Company's
strategy to develop a portfolio of antibody-based drugs.

Four CAT human therapeutic antibody products are now at various stages of
clinical development, with one further product candidate in pre-clinical
development.

HUMIRA(TM), the leading CAT-derived antibody, isolated and optimised in
collaboration with Abbott, has been approved for marketing as a treatment for
rheumatoid arthritis in 51 countries. Six further licensed CAT-derived human
therapeutic antibodies are in clinical development by licensees, with four
further licensed product candidates in pre-clinical development.

CAT has alliances with a number of pharmaceutical and biotechnology companies to
discover, develop and commercialise human monoclonal antibody-based products. In
particular, CAT has a broad collaboration with Genzyme for the development and
commercialisation of antibodies directed against TGFb, a family of proteins
associated with fibrosis and scarring. This collaboration has so far given rise
to one antibody product candidate at clinical development stage, and one at
pre-clinical development stage.

CAT has also licensed its proprietary technologies to several companies. CAT's
licensees include: Abbott, Amgen, Chugai, Genzyme, Human Genome Sciences, Merck
& Co, Pfizer and Wyeth Research.

CAT is listed on the London Stock Exchange and on NASDAQ. CAT raised £41m in its
IPO in March 1997 and £93m in a secondary offering in March 2000.

IL-13

IL-13 is an interleukin (protein) which has potent immunomodulatory effects. It
is primarily secreted by TH2 lymphocytes. It is believed to be a highly relevant
target molecule for asthma as a result of its potential role in airways
obstruction, acute exacerbations and in chronic airways remodelling.

Marix Drug Development Limited

Marix Drug Development Limited is a professional drug development services
organisation with particular expertise in early clinical development for
respiratory drugs.

Application of the Safe Harbor of the Private Securities Litigation Reform Act
of 1995: This press release contains statements about Cambridge Antibody
Technology Group plc ("CAT") that are forward looking statements. All statements
other than statements of historical facts included in this press release may be
forward looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934. These forward looking statements are based on numerous
assumptions regarding the company's present

and future business strategies and the environment in which the company will
operate in the future. Certain factors that could cause the company's actual
results, performance or achievements to differ materially from those in the
forward looking statements include: market conditions, CAT's ability to enter
into and maintain collaborative arrangements, success of product candidates in
clinical trials, regulatory developments and competition. We caution investors
not to place undue reliance on the forward looking statements contained in this
press release. These statements speak only as of the date of this press release,
and we undertake no obligation to update or revise the statements.




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