Amendment to CULS

Mondas PLC
28 January 2005


                                                                 27 January 2005





                     Mondas plc ('Mondas' or 'the Company')

Variation of terms of the 8% convertible unsecured loan stock 2005 ('CULS')

The directors of Mondas are pleased to propose a variation of the terms of the
CULS.

Each £1 nominal of the CULS is convertible into two Ordinary Shares of 10p each
in the Company. The CULS currently carry a coupon of 8 per cent and are
redeemable on 31 October 2005.

Under the terms of the proposed variation, the redemption date is to be extended
to 31 October 2007 and the coupon increased to 8.75 per cent with effect from 1
November 2005. All other terms, including as to conversion, will remain
unchanged.

The variation is to be effected by the passing of a special resolution by CULS
holders at an extraordinary general meeting of the CULS holders ('EGM'). The
Company has accordingly convened an EGM for 21 February, 2005.

As at today's date the Company has received irrevocable undertakings to vote in
favour of the resolution effecting the variation from CULS holders whose
stockholdings as at todays date total £2,682,500 nominal, representing 89.42 per
cent of the CULS in issue.

                                    - ENDS -





Enquiries:

Mondas PLC                                        Tel: [phone]
Jarlath McGee, Chief Executive
Ian Selby, Finance Director

Teather & Greenwood                               Tel: [phone]
James Glancy
Stephen Austin

College Hill                                      Tel: [phone]
Matthew Smallwood/Clare Warren





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