Research Update

Phytopharm PLC
30 July 2003



30 July 2003



                                   Phytopharm plc

                         Pfizer returns rights of P57


Phytopharm announced today that it has received notice from Pfizer that it will
discontinue clinical development of P57 for the treatment of obesity and return
the rights to the company.  P57 is a novel appetite suppressant that has been
shown to reduce caloric intake in overweight subjects, as announced by
Phytopharm in December 2001.


In a changing environment for discovery and development of new medicines, Pfizer
continually reviews its pipeline of potential new therapies. Following the
closure of the Natureceuticals group within Pfizer, the company has determined
that the development of P57 might be best achieved by another organization. As a
consequence, Phytopharm is now free to license P57 to other parties.



The company also stated that clinical data of P57 in patients encourage further
study of the natural material as a therapy for obesity.



Dr Richard Dixey, Chief Executive of Phytopharm, commented: 'We have enjoyed our
relationship with Pfizer over the past five years, during which a considerable
body of clinical and pre-clinical data has been generated within the P57
program. We will now take further steps to build on this substantial foundation
and seek other partners for this exciting opportunity.'



Enquiries:

Phytopharm plc
Dr Richard Dixey, Chief Executive                            Tel:   [phone]
                                                           Mobile:  [phone]



Financial Dynamics
David Yates / Ben Atwell                                     Tel:  [phone]



There will be a conference call for analysts at 4pm this afternoon.  For
details, please call Mo Noonan on 0207 831 3113.



NOTES TO EDITORS

Phytopharm plc
Phytopharm is the leading company in the development of Botanical
pharmaceuticals. Botanicals enable the rapid clinical evaluation of plant
medicines in chronic and poorly understood diseases. Where novel modes of action
are discovered, such research can form the basis for drug discovery platforms,
which enable the development of new medicines and the isolation of single
chemical entities of clinical importance. Phytopharm has four drug discovery
platforms in full development, for metabolic syndrome, neurodegeneration,
inflammation and dermatitis.


P57 is a novel appetite suppressant containing extracts derived from a South
African plant. Under an agreement announced on August 24th 1998, Pfizer acquired
an exclusive worldwide licence to develop and market P57.


Phytopharm is developing ten products based on its four drug discovery platforms
of which five are in the clinic and five are in pre-clinical development. There
are also a number of other projects in early evaluation phase.


More information concerning Phytopharm's activities can be found on its Web site
                        at http://www.phytopharm.co.uk.




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