AGM Statement

Provexis PLC
29 September 2006

                                  Provexis plc

                                ('The Company')

                        Annual General Meeting Statement

At Provexis plc's Annual General Meeting to be held this morning, the
non-executive Chairman of Provexis plc, Dawson Buck, will give the following
statement and update on current trading.

'At the time of the announcement on 15 June 2006 of our results for the year
ended 31 March 2006 I was pleased to report considerable progress made by the
business. Since the year end the Company has continued to achieve major
milestones in its development which unlock significant global commercial
opportunities.

Sirco Update

'Sales of Sirco for the first-half of the year are on track, and we are pleased
with the current distribution level of 1200 outlets, and will continue to
develop this customer base. The one-litre chilled pack is on sale in over 800
outlets of major multiple grocers including Tesco, the market leader. I am
pleased with the progress made in this highly competitive channel, and indeed we
are producing weekly sales comparable with some more established brands. We
expect to extend distribution in the multiple grocer channel in the Autumn.

'The 250ml single-serve pack is now available in Holland & Barrett and a range
of independent health-food stores, and this format will play a strategic role as
we seek distribution in the pharmacy channel over the medium-term.

'National advertising and retailer promotions are playing a significant role in
the development of the brand and we estimate that 10 million of our target
consumers have seen our advertising more than 8 times in the year to date. We
will continue to invest consistently in Sirco in order to maintain and build
distribution, while being conscious of our target to move into a positive
contribution on a monthly basis during the next year.

Licensing Update

'I was pleased to announce the signing of a twelve-month Exclusivity Agreement
with a major international brand owner in August. This agreement is proceeding
well, and we have made good progress in the joint-development of a new format of
our Fruitflow technology, with our partner funding the bulk of the development
costs and providing a great deal of resource to us.

'We are now also in licence negotiations with our partner, and subject to
certain economic, regulatory and technical hurdles being cleared, we expect to
conclude these negotiations in the coming weeks.

'We continue to seek further licence partners in the areas of juice drinks,
products for Deep Vein Thrombosis, and dietary supplements and over-the-counter
formats. As a longer-term project, we also anticipate exploring medical
applications for our products.

Fruitflow Technology

'We are intensifying our focus on the development of Fruitflow. The management
team believes that this patented, scientifically-proven technology can extend
its applicability over a broader range of formats and claim areas, and as such
this will be the focus of our efforts and investment over coming months.

'We have early proof of concept work in the area of Deep Vein Thrombosis, and
consumer research work carried out by Provexis indicates this is an area of high
concern for airline passengers. A patent has been filed for this claim area, and
in the coming months we will develop further the scientific proof for this
opportunity.

'The original format of Fruitflow is now established commercially, and we will
be targeting cost optimisation over the short to medium term. Furthermore,
development of the powder version of Fruitflow, in conjunction with our
strategic partner, is progressing well and will provide us with a technology
applicable to a wide range of food, beverage and medical products.

Pipeline

'In the forthcoming year we will concentrate our resources on maximising the
value from Fruitflow. However, in addition we will continue to develop the
plantain-based extract for the treatment of Crohn's Disease. Human trials and
clinical trials are to commence late in 2006 and we expect a first indication of
the results of those trials in the second half of 2007.

Financial

'As stated, Sirco sales are on track for the first half of the year, and cash is
in line with forecast. The management team is focussed on careful management of
working capital, and within this a tight control on costs.

Summary

'The functional and medical food sector is a strong growth market globally and
we are uniquely positioned to capitalise on that opportunity. We therefore look
forward to making further progress as we develop Fruitflow and expand our
licensing opportunities.'

                                      

For further information please contact:

Stephen Moon, Commercial Director                             Tel: [phone]
Provexis plc

Emma Kent/ Victoria Geoghegan                                 Tel: [phone]
Bell Pottinger Corporate & Financial



                      This information is provided by RNS
            The company news service from the London Stock Exchange