Result of Equity Issue

Oxford Biomedica PLC
27 October 2003

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                   Oxford BioMedica plc ('the Company')

                         Result of Rights Issue

The Company announces that the 27 for 50 rights issue of up to 129,802,716
Rights Shares at 17 pence per share, as detailed in the Prospectus published by
the Company on 16 September 2003 closed at 9.30 a.m. on 24 October 2003. The
fractional entitlements, amounting to 2,530 Rights Shares, were not allotted and
hence the total number of Rights Shares issued under the Rights Issue was
129,800,186. The total issued and fully paid share capital of the Company
following the Rights Issue is £3,701,826.94 represented by 370,182,694 ordinary
shares of 1 pence each.



Valid acceptances have been received in respect of 85,580,053 Rights Shares from
Qualifying Shareholders, which represents an aggregate take-up of approximately
65.93 per cent.



The balance of the Rights Shares which were not taken up, being 44,220,133 new
Ordinary Shares, has today been placed with institutional investors at a price
of 17.25 pence per share (gross of expenses). Although the issue was fully
underwritten, it was not necessary to call on the underwriters to take up any of
the Rights Shares



Non-participating Shareholders will be sent a cheque for their share of the
premium over the Issue Price and the related expenses of procuring those
investors (including commissions and amounts in respect of value added tax),
save that amounts of less than £3 will be retained for the benefit of the
Company.



It is expected that definitive share certificates in respect of the Rights
Shares will be despatched by 31 October 2003.  Rights Shares are being credited
to CREST accounts today.



Directors' interests in shares and share options



The figure for valid acceptances noted above includes 150,930 Rights Shares
subscribed for by the Directors (and their associates) taking up their rights.



Following the Rights Issue, and as notified to the Company today by each of the
Directors, the shareholdings of the Directors (and their associates) are as
follows:


Director                     No. of shares subscribed        Resultant holdings % of issued share capital

Dr. P. Johnson                                 54,000                   154,000                      0.04
Professor A.J. Kingsman                             -                 8,603,451                      2.32
Professor S.M. Kingsman                             -                 8,739,139                      2.36
A.B. Wood                                      12,150                   128,950                      0.03
Dr. D.J. Jolly                                      -                    50,000                      0.01
P.J. Nolan                                     30,780                    87,780                      0.02
A.J. Allars                                         -                         -                         -
M. Berninger                                        -                         -                         -
R.Uppal                                        54,000                   154,000                      0.04



In accordance with the rules of the Oxford BioMedica 1996 (No. 1) Share Option
Scheme, the Oxford BioMedica Share Option Plan and the relevant share option
agreements, outstanding options over Ordinary Shares have been adjusted as a
result of the rights issue. The effect of the adjustment is to increase the
number of options by 5.55%, rounded down to the nearest whole number, and to
reduce the exercise price of each share option by 5.55%, rounded up to the
nearest whole penny. The interests of the Directors in share options following
the adjustment are as follows:


                         Options over ordinary shares of 1p each

                      Number of   Exercise   Adjustment    Number of    Adjusted      Date from      Expiry
                        options      price  as a result      options    exercise
                       prior to   prior to       of the    following                      which        date
                     the rights the rights rights issue          the       price
                          issue      issue                adjustment                exercisable


Dr Peter Johnson        200,000      55.0p       11,100      211,100       53.0p       17.04.04    17.04.08


Dr Doug Jolly         3,185,235      53.5p      176,781    3,362,034       51.0p     1 25.05.02    25.05.11


Peter Nolan             221,440      80.0p       12,289      233,729       76.0p       13.11.99    13.11.03
Peter Nolan             215,757      15.5p       11,974      227,731       15.0p       07.04.01    07.04.05
Peter Nolan             145,401      11.5p        8,069      153,470       11.0p       24.09.01    24.09.05
Peter Nolan             153,636      22.0p        8,526      162,162       21.0p       01.04.02    01.04.06
Peter Nolan             153,636      22.0p        8,526      162,162       21.0p       17.08.02    17.08.06
Peter Nolan              64,896      62.5p        3,601       68,497       60.0p       05.04.03    05.04.07
Peter Nolan              61,779      75.5p        3,428       65,207       72.0p       27.09.03    27.09.07
                      1,016,545                  56,413    1,072,958


Andrew Wood             276,801      80.0p       15,362      292,163       76.0p       13.11.99    13.11.03
Andrew Wood             363,516      33.0p       20,175      383,691       32.0p       06.08.00    06.08.04
Andrew Wood             248,552      15.5p       13,794      262,346       15.0p       07.04.01    07.04.05
Andrew Wood             167,503      11.5p        9,296      176,799       11.0p       24.09.01    24.09.05
Andrew Wood             530,965      22.0p       29,468      560,433       21.0p       01.04.02    01.04.06
Andrew Wood              77,875      22.0p        4,322       82,197       21.0p       17.08.02    17.08.06
Andrew Wood              56,636      82.5p        3,143       59,779       79.0p       22.03.03    22.03.07
Andrew Wood              20,353      75.5p        1,129       21,482       72.0p       27.09.03    27.09.07
                      1,742,201                  96,689    1,838,890



1 1,858,084 of the options held by Dr Doug Jolly had become exercisable by 27
October 2003. The remaining share options will become exercisable in monthly
increments of 66,361 shares each month thereafter.



In addition, the Company has today granted additional share options to certain
Directors, under the Oxford BioMedica 1996 (No.1) Share Option Scheme. The
exercise price for each of the options is 19.25 pence per share. The new options
may be exercised between the third anniversary of the date of grant and the
seventh anniversary of the date of grant, but only if at the time of exercise,
or for at least 12 months in the three years before exercise, the percentage
increase in Oxford BioMedica's Total Shareholder Return exceeds the percentage
increase in the FTSE TechMark Mediscience index since the date of grant of the
option. The additional options granted to directors are: Professor Alan Kingsman
180,000 options, Professor Susan Kingsman 150,000 options, Peter Nolan 132,000
options and Andrew Wood 167,000 options.



Definitions used in the Prospectus dated 16 September 2003 shall have the same
meanings when used in this announcement, unless the context requires otherwise.

For further information please contact:



Professor Alan Kingsman, Chief Executive, Oxford BioMedica plc          Tel:  [phone]
Andrew Wood, Finance Director, Oxford BioMedica plc

Mike Wort, James Chandler, Beattie Financial                            Tel:  [phone]

Paul Davies, Collins Stewart Limited                                    Tel:  [phone]




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