Announcement of Fundraising

Futura Medical PLC
28 November 2003



Press Release                                                   28 November 2003


               Futura Medical announces successful fundraising


Futura Medical plc ('Futura'), the AIM-listed pharmaceutical and medical device
group that develops innovative products for the sexual healthcare market, has
exercised the first of three call options under the subscription agreement with
Long Fleet Systems Inc signed in June 2003.

The sum of £800,000 (£780,000 net of costs) has been raised by the issue of
1,232,855 new ordinary shares of 0.2 pence each at a price of 64.89 pence per
share.  This is at the agreed 10 per cent discount to the recent average share
price in accordance with the terms of the subscription agreement.  Application
has been made for the new shares to be admitted to trading on AIM.  The new
shares will rank pari passu with existing ordinary shares and dealings are
expected to commence at 8.00am on 1 December 2003.

Warrants are to be issued over 250,000 ordinary shares exercisable at any time
over the next 12 months at an exercise price of 64.89 pence per ordinary share
in accordance with the subscription agreement with Long Fleet Systems Inc.

James Barder, Chief Executive of Futura Medical, said: 'We are pleased to have
completed this additional round of funding, which sets us on an even firmer
footing in building a successful pharmaceutical and medical device group to
serve the growing sexual healthcare market.'


For further information:
Futura Medical plc
James Barder, Chief Executive                          Tel: [phone]
mail to: [e-mail]                www.futuramedical.co.uk

Media enquiries:
Bankside
Peter Curtain / Alex Tweed                             Tel: [phone]
mailto:[e-mail]                             www.bankside.com


Notes to Editors:


Futura Medical plc

Futura Medical ('Futura' or 'the Company') is an AIM-listed pharmaceutical and
medical device group developing innovative products for sexual health.  The
Company is developing a portfolio of products with the intention of licensing
their manufacture and distribution to major pharmaceutical and healthcare
groups.   Several agreements have been signed.

Futura's primary focus is on Over the Counter (OTC) products with particular
appeal to men and women who are reluctant to discuss potentially embarrassing
sexual matters with their doctors.

In June 2003 the Company's first product, MED2001, a rub-on cream for erectile
dysfunction (ED), completed its Phase II study, which demonstrated a good safety
profile and efficacy trends.  MED2001 is likely to enter Phase III trials in
early 2004, prior to a regulatory submission for licensing in 2005.

A trial to assess the safety of MED2001 in angina patients is underway.  Normal
medications taken by angina patients prevent the use of most currently available
ED treatments.

CSD500 is a latex condom incorporating within its teat a gel to help healthy men
maintain an erection throughout intercourse, so reducing condom slippage.  The
regulatory dossier is scheduled for submission in 2004 and an exclusive
agreement with SSL International plc, the maker of DurexTM, to distribute the
product is expected to be income generating by 2005.

FLD500, aimed primarily at female partners of male condom users, will help women
maintain lubrication during intercourse, thereby reducing the risk of condom
failure.

www.futuramedical.co.uk


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