Disposal

Billam PLC
27 September 2005


                                   Billam Plc

                          Investment in Sosei Limited

The directors of Billam Plc are pleased to report that further to the
announcement on 21 July 2005 Sosei Co Limited completed the acquisition of
Arakis Limited and Billam has received a total consideration of £439,455
comprising cash £43,275 and 124 shares in Sosei Co Limited. Sosei Co Ltd is a
leading Japanese biopharmaceutical company with operations in Japan and the UK
whose shares are traded on the Tokyo Stock Exchange MOTHERS index (4565:JP
Sosei).

For further details:

Maxine Barnes, Bishopsgate Communications 020 7430 1600




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