Disposal of Billam AG

Billam PLC
19 September 2003


                                   Billam Plc

                             Disposal of Billam AG

Billam Plc ('Billam' or 'the Company') announces that it has sold its subsidiary
Billam AG, an investment company, to Peter Hoskins for a consideration of
£25,000 payable in cash on 31 August 2006. Prior to the sale, Billam AG's 41.8%
interest in World Life Sciences Limited (which has been independently valued at
between £900,000 and £975,000) was transferred to Billam in exchange for an
interest free loan note of approximately £400,000 repayable on 31 August 2013
and the cancellation of loans and credit balances due to Billam amounting in
total to approximately £500,000.

In the year to 31 December 2002, Billam AG made a loss after tax of
approximately £150,000 and as at that date had net assets of approximately
£252,000. As at 18 September 2003, the directors of Billam estimate that the net
asset value of Billam AG was approximately £25,000 after taking into account the
terms of the loan notes referred to above.

As a result of the sale, Peter Hoskins will cease to be an employee of a
subsidiary of Billam but will remain as a consultant to the Company with
responsibility for the business and corporate development of certain of Billam's
investee companies.

The effect of these transactions will be to reduce Billam's net asset value by
£150,000, and reduce its annual operating costs by approximately £190,000 with
corresponding benefits to the Company's cash flow.

On account of Peter Hoskins being a director of Billam AG, the sale of Billam AG
is deemed to be a transaction with a related party. The directors of Billam
consider, having consulted with the Company's nominated adviser, KBC Peel Hunt
Ltd, that the terms of the transaction are fair and reasonable insofar as the
Company's shareholders are concerned.

The board thanks Peter Hoskins for his valuable contribution to the Company over
the past three years.

Following this personnel change, Victor Beamish currently non-executive Chairman
intends to take a more executive role in the Company's affairs.

These developments are part of Billam's strategy to streamline its corporate
structure and reduce overheads. The board of Billam believes that these
developments will strengthen the Company.

Enquiries:
Angus Forrest, Managing Director
Billam Plc Tel. [phone]



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