Notice to Shareholders

Billam PLC
7 December 2001

                                  BILLAM PLC


          Intention to offer shareholders the right to subscribe in
                   future flotations of investee companies


The Directors of Billam Plc, the AIM listed Technology and Life Science
Investment Company, announced their intention to approach shareholders in
writing to canvass support for a number of flotations by investee companies
intended to take place within the next 3-6 months. Billam intends to offer its
shareholders the opportunity of subscribing for shares in the investee
companies as they come to market.


For further information please contact Peter L. Hoskins

Tel :    [phone]