Re Agreement

Cambridge Antibody Tech Group PLC
11 February 2004




04/CAT/07



FOR IMMEDIATE RELEASE

13.00 GMT, 08:00 EST Wednesday 11 February 2004


For Further Information Contact:



Cambridge Antibody Technology                         Weber Shandwick Square Mile (Europe)
Tel: [phone]                             Tel: [phone]
Peter Chambre, Chief Executive Officer                Kevin Smith
John Aston, Chief Financial Officer                   Rachel Lankester
Rowena Gardner, Director of Corporate Communications

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


CAMBRIDGE ANTIBODY TECHNOLOGY
GRANTS LICENCE TO WYETH


Cambridge, UK Cambridge Antibody Technology  (LSE: CAT; NASDAQ: CATG) today
announces that Wyeth (NYSE:WYE) has exercised an option to license CAT's
proprietary antibody phage display libraries for in-house use. The libraries
will support Wyeth's activities in therapeutic antibody drug discovery and
development across a broad range of therapeutic areas.  This option to license
CAT's libraries was granted to Wyeth as part of the collaboration agreement
entered into in March 1999.



In return for Wyeth's exercise of the option, CAT will receive an upfront
licence fee. Wyeth has a number of exclusive therapeutic and diagnostic antibody
product options related to its use of the library which, if exercised, will
result in CAT receiving a product licence fee and potential milestone and
royalty payments.



Peter Chambre, Chief Executive Officer of CAT, commented "We have developed an
excellent relationship with Wyeth over the past four years that has already
resulted in Wyeth taking two exclusive product licences to human antibodies
identified through work carried out at CAT in collaboration with Wyeth. This
collaboration has clearly demonstrated the value of our platform technology and
we are pleased that Wyeth has chosen to take this technology in house."



                                     -ENDS-



Notes to Editors

Cambridge Antibody Technology (CAT):
•  CAT is a UK-based biotechnology 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 CompanyOs strategy to develop a portfolio of antibody-based drugs.

•  Three CAT human therapeutic antibody products are now in clinical
development, with two further product candidates in pre-clinical development.

•  HUMIRA(TM), the leading CAT-derived antibody, isolated and optimised in
collaboration with Abbott, has been approved by the US Food and Drug
Administration for marketing in the US and by the European Commission for
marketing in the EU as a treatment for rheumatoid arthritis.

•  Five further licensed CAT-derived human therapeutic antibodies are in
clinical development, 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 TGFBeta, 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, 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.



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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