Statement re License Update

For immediate release                                                                 11 August 2005

                             PROTEOME SCIENCES TMT REAGENTS LICENSE UPDATE

The Directors of Proteome Sciences plc announce that the process of concluding a licence agreement for
the company's Tandem Mass Tags® ( TMT®) is continuing satisfactorily, and that a further announcement
will be made when the deal is formally concluded.

Enquiries:

Proteome Sciences plc                                                                     
Christopher Pearce, Chief Executive                                           01932 865065
James Malthouse, Finance Director                                                         

Dresdner Kleinwort Wasserstein                                                            
Michael Covington                                                             020 7623 8000

IKON Associates                               
Adrian Shaw                                                                   01483 535102
                                                                              07979 900733

Notes to Editors:

Proteome  Sciences  plc applies high sensitivity proteomics to identify and characterise  differential
protein  expression in diseases for diagnostic, prognostic and therapeutic applications.   It  has  to
date  developed  sensitive  blood assays for stroke, vCJD, BSE, solid organ transplant  rejection  and
Alzheimer's   disease.   The   main   focus  of  its  research   currently   addresses   neurological,
neurodegenerative, diabetes/obesity, oncology and cardiovascular conditions.

In  addition  to its own proprietary biomarkers, Proteome Sciences has developed ProteoSHOP  (Proteome
Sciences High Output Proteomics), a toolbox that offers high sensitivity and high throughput  gel  and
gel-free  proprietary technologies for the identification of potential biomarkers  and  drug  targets.
These include specialisation in membrane proteins and protein phosphorylation.

The  Company  has  also  developed  a range of specialist reagents  to  improve  the  performance  and
quantitation  of  protein  separation  and characterisation with  mass  spectrometry,  bioinformatics,
statistics and pattern recognition. These include Sensitizer, PST, qPST and TMT.

The  process  of  commercialisation is being actively pursued across the portfolio  of  the  Company's
programmes and technologies and to date licensing deals have been signed for the commercialisation  of
tests for Stroke and TSEs.

Proteome Sciences is headquartered in Cobham, Surrey in the UK and has laboratories at Kings College
Hospital, London and in Frankfurt. It employs 40 full time scientists in addition to its corporate and
business development staff. The Company is listed on the Alternative Investment Market.

This  announcement  has  been issued by Proteome Sciences and is the sole responsibility  of  Proteome
Sciences. This announcement is for information purposes only and does not constitute an offer to  sell
or  issue  any securities or a solicitation of an offer to buy or acquire any securities or investment
advice  in  any  jurisdiction including, without limitation, the United Kingdom,  the  United  States,
Canada, Australia or Japan.

This announcement includes 'forward-looking statements'.  All statements relating to Proteome Sciences
other  than  statements  of  historical  facts  included  in  this  announcement,  including,  without
limitation,  those  statements regarding the financial position, results of operations,  business  and
outlook  of Proteome Sciences are forward-looking statements.  Such forward-looking statements involve
known  and  unknown  risks,  uncertainties and other important factors that  could  cause  the  actual
results,  performance or achievements of Proteome Sciences or the markets and economies  in  which  it
operates  to  be  materially different from future results, performance or achievements  expressed  or
implied  by  such forward-looking statements.  Such forward-looking statements are based  on  numerous
assumptions regarding Proteome Sciences' present and future business strategies and the environment in
which Proteome Sciences will operate in the future.  These forward-looking statements speak only as at
the date of this announcement.  Proteome Sciences expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements contained herein to reflect any
change  in  Proteome  Sciences' expectations with regard thereto or any change in events,  conditions,
circumstances or assumptions on which any such statement is based.

The  Placing Shares have not been and will not be registered under the US Securities Act of 1933  (the
"Securities  Act") and may not be offered or sold within the United States absent registration  or  an
exemption from registration. No public offering of securities will be made in the United States.

Dresdner Kleinwort Wasserstein Limited ("DrKW") and Dresdner Kleinwort Wasserstein Securities  Limited
("DrKWS"),  which  are  each authorised and regulated by the Financial Services  Authority  under  the
Financial Services and Markets Act 2000 ("FSMA"), are acting for Proteome Sciences and for no one else
in  connection with the Placing and will not be responsible to anyone other than Proteome Sciences for
providing  the  protections  afforded to customers of DrKW and DrKWS,  nor  for  providing  advice  in
relation to the Placing or any other matter referred to in this announcement.

Neither  this  document  nor  any copy of it may be taken, transmitted  or  distributed,  directly  or
indirectly, in or into the United States, Canada, Australia or Japan or in any jurisdiction  in  which
such  transmission  or  distribution is unlawful. Any failure to  comply  with  this  restriction  may
constitute a violation of US, Canadian, Australian or Japanese securities laws or the securities  laws
of other states as the case may be.

                                                 ENDS

Proteome Sciences