EGM Requisition Withdrawn

nanoUniverse PLC
20 July 2001



                               NANOUNIVERSE PLC

                      ('nanouniverse' or 'the company')

The Board of nanoUniverse is pleased to announce that an agreement has been
reached with Laxey Partners Limited and Laxey Investors Limited (together,
'Laxey') under which Laxey has agreed to withdraw the requisition it served on
the Board on 28 June 2001 for the Board to convene an extraordinary general
meeting of the Company. Laxey had requisitioned the Board to put resolutions
to the Company's shareholders to reduce the Company's share capital, authorise
the Company to make a tender offer to buy back 90% of its shares and to
appoint four additional directors. Laxey have agreed instead to support the
Board's proposal that shareholders be asked to approve an immediate voluntary
winding up of the Company.

Under the terms of the agreement reached with Laxey, if shareholders approve a
voluntary winding up of the Company and ratify the agreement, each of the
Directors, together with the Company's chief technology officer, will waive
his right to any compensation under the terms of his service contracts.

The Board believes that, particularly in the light of the agreement, a
voluntary winding up of the Company will provide the best way of returning the
maximum amount of capital possible to shareholders as quickly as possible and
will be better for all shareholders than the tender offer proposal put forward
by Laxey. A circular will be posted to shareholders on or before 25 July 2001
seeking approval for an immediate voluntary winding up and ratification of the
agreement. The Extraordinary General Meeting will be held on 17 August 2001.

                                                                  20 July 2001

Enquiries:
nanoUniverse                            Tel: [phone]
Kiran Sidhu, Chief Financial Officer

College Hill                            Tel: [phone]
Nicola Weiner                           Email: [e-mail]