Open & International Offering at 1850p per Share

Cambridge Antibody Tech Group PLC
3 April 2000

Not for release, distribution or publication in or into the United States,
Canada, Japan, Australia or the Republic of Ireland

Enquiries:

Cambridge Antibody Technology Group plc
David Chiswell, John Aston or Rowena Gardner       01763 263 233
       
Deutsche Bank AG London
Katy Wilcox       020 7 545 8000
       
Cazenove & Co.
Tony Brampton or Louise Littlewood       020 7 588 2828
       
HCC de Facto
Sue Charles, David Dible or Nikul Odedra        020 7 496 3300

CAMBRIDGE ANTIBODY TECHNOLOGY GROUP PLC ('CAT')
OPEN OFFER & INTERNATIONAL OFFERING: OFFER PRICE SET AT 1850P PER SHARE
RAISING £90 MILLION BEFORE EXPENSES

Melbourn, UK, 3 April 2000, Cambridge Antibody Technology (CAT.L) today
announces that the Offer Price for the Open Offer & International Offering by
Deutsche Bank AG London ('Deutsche Bank') and Cazenove & Co. ('Cazenove') has
been set at 1850p per New Ordinary Share.  Taking into account current market
conditions, the demand for New Ordinary Shares in the Offers and the desire to
create a strong aftermarket, the amount to be raised under the Offers has been
reduced to £90 million.  Entitlements of Qualifying Shareholders under the
Open Offer have been scaled back accordingly.

At the Extraordinary General Meeting of CAT held on Friday 31 March 2000, both
the resolutions, including the resolution to approve the allotment of
1,670,000 Ordinary Shares to Human Genome Sciences, Inc in accordance with the
terms of the HGS Subscription Agreement, were approved. As a result, the Non
Pre-emptive Ordinary Shares were made available in the International Offering.
 

1,418,598 Ordinary Shares have been taken up by Qualifying Shareholders under
the Open Offer.  2,475,497 shares not taken up in the Open Offer have been
made available in the International Offering. An additional 970,770 Ordinary
Shares are being issued under the International Offering.

The Company has granted Deutsche Bank AG London ('Deutsche Bank') an option
(the 'Over-Allotment Option') to subscribe for up to 300,000 additional
Ordinary Shares at the Offer Price. The stabilising manager is Deutsche Bank. 
Excluding the Over-Allotment Option, the total net proceeds of the Offers to
the Company (after expenses) will be approximately £87 million.

CAT intends to post a supplementary prospectus for the Open Offer to all
subscribers under the Offers on or around 3 April 2000 containing pricing
information in respect of the Offers.

The Ordinary Shares to be issued under the Open Offer and International
Offering will rank pari passu with existing Ordinary Shares in all respects
and are expected to be admitted to the Official List of the London Stock
Exchange at 8.00am on Tuesday 4 April 2000.

Terms defined in the CAT press announcement dated 7 March 2000 shall have the
same meaning in this announcement.

This press release is not an offer of securities for sale in the United
States.  Any such securities may not be offered or sold in the United States
absent registration or an exemption from registration. 

The issue of this announcement has been approved by the directors of Cambridge
Antibody Technology Group plc who accept responsibility for the information
contained in it.  This announcement has been approved solely for the purposes
of section 57 of the Financial Services Act 1986 by Deutsche Bank and
Cazenove, both of which are regulated in the UK by The Securities and Futures
Authority Limited.  Deutsche Bank and Cazenove are acting for Cambridge
Antibody Technology Group plc and no one else in connection with the Offers
and will not be responsible to anyone other than Cambridge Antibody Technology
Group plc for providing the protections afforded to customers of Deutsche Bank
and Cazenove nor for providing advice in relation to the Offers.