Re Contract

Aortech International PLC
31 January 2001

                          AORTECH INTERNATIONAL PLC

                         Elast-EonTM Agreement Signed

AorTech International plc, the Scottish-based developer and manufacturer of
cardiovascular devices, announces that Heads of Agreement for the licensing
and supply of its Elast-EonTM material has been signed with JOMED N.V., a
major European cardiovascular device company. The agreement is for the supply
of Elast-EonTM for use in stents and is for a term of 15 years. This
represents an agreement secured by AorTech from the number of Material
Evaluation Agreements which are in place with key medical device companies.
The Agreement includes the payment of licence fees and and royalties by JOMED,
with JOMED committed to developing stents with the Elast-EonTM material for
sale in both Europe and USA.

The range of Elast-EonTM materials, that were developed in Australia with
Government funding, are unlike any polyurethanes developed to date, and have
widespread uses in medical technology as a result of their combination of
desirable characteristics. The new polymers are bio-compatible,
non-thrombotic, durable and flexible, offering the possibility of being used
in a range of medical implantable devices. The materials are being used in
AorTech's Tri-Leaflet valve which offers the possibility of replacing both
current tissue and mechanical valves.

Eddie McDaid, Managing Director of AorTech International, commented:

'The signing of this Heads of Agreement with JOMED represents a significant
commercial transaction for the Elast-EonTM material for use in the medical
device sector. We are pleased that JOMED, following 12 months evaluating
Elast-EonTM, has determined its use suitable for stents. I am confident that
this Agreement is one of a number of licence agreements which will be
completed in the future with several medical device companies and that the
Elast-EonTM material will in future years be recognised as the material of
choice for long term medical implants.'

Tor Peters, President and CEO of JOMED, said:

'JOMED has carried out an extensive evaluation of Elast-EonTM over the past 12
months and have determined its superior mechanical properties to other known
biomaterials. JOMED will be committing considerable resources to the
development of stents with the Elast-EonTM material through the regulatory
procedures and requirements for both Europe and the USA.'

                                                               31 January 2001
ENQUIRIES:

AorTech International plc                          Tel: [phone]
Eddie McDaid, Managing Director

College Hill                                       Tel: [phone]
Michael Padley / Nicholas Nelson

     For further information, visit AorTech's website at www.aortech.com

 Copies of this statement will be available for a period of 14 days from the
  Company's registered office: Phoenix Crescent, Strathclyde Business Park,
                         Bellshill, Scotland ML4 3NU.