CAT's 2001 AGM Statement

Cambridge Antibody Tech Group PLC
2 February 2001


For Further Information Contact:

Cambridge Antibody Technology        
Tel: [phone]
David Chiswell, CEO
John Aston, Finance Director       
Rowena Gardner, Head of Corporate Communications       

HCC De Facto (Europe)
Tel: [phone]
Adam Michael
David Speechly

BMC Communications/The Trout Group (USA)
Tel: [phone]
Brad Miles, ext 17 (media)
Brandon Lewis, ext.15 (investors)

       
CAMBRIDGE ANTIBODY TECHNOLOGY GROUP PLC 2001 ANNUAL GENERAL MEETING STATEMENT


Since our report to shareholders in late November, we have continued to build
on our achievements of last year and have announced three new alliances.
Firstly with Immunex Corporation to license our proprietary antibody phage
display library and secondly with Zyomyx to develop high-density protein
biochips based on antibody arrays. In January we announced a strategic
partnership with Elan Corporation for the development of antibody therapeutics
for the treatment of neurological disorders, a further  agreement in which CAT
shares research and development costs as well as commercialisation profits.
These agreements build on a strong year for alliances and further endorse our
strong commitment to work with others at all stages of the discovery and
development process as well as developing our own therapeutic antibody
clinical portfolio. 

CAT's product pipeline continues to progress, and recruitment to the phase II
study of CAT-152 will be concluded this month. 

And finally, since November we have further extended our patent estate
covering phage display of antibodies and antibody fragments in the US, with
the granting of a key patent. 

Professor Peter Garland, 
Chairman, 
Cambridge Antibody Technology Group plc.




Notes to Editors:

Cambridge Antibody Technology (LSE: CAT)
CAT is a UK biotechnology company using its proprietary technologies in human
monoclonal antibodies for drug discovery and drug development.  Based in
Melbourn, 10 miles south of Cambridge, England, CAT currently employs around
200 people.  
CAT is listed on the London Stock Exchange, having raised £41m in its IPO in
March 1997. A secondary offering in March 2000 raised £93m. 
CAT has a world-leading platform technology for rapidly isolating human
monoclonal antibodies using phage display systems. CAT has an extensive phage
display antibody library, currently incorporating around 100 billion distinct
antibodies. This library forms the basis for the company's strategy to develop
a portfolio of clinical development programmes and for discovering new drug
leads using functional genomics.  Four fully human therapeutic antibodies
developed by CAT are at various stages of clinical trials. 
CAT works in partnership with other companies at all stages of the drug
discovery and development process. CAT's collaborations, past and present,
include: AstraZeneca, BASF Pharma, Elan, Eli Lilly, Genentech,  Genetics
Institute, Genzyme,  Human Genome Sciences,   Immunex,  Oxford GlycoSciences, 
Pharmacia, Pfizer, Wyeth-Ayerst and Zyomyx.