Placing & Rights Issue Update

Aminex PLC
23 May 2007


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN PART OR IN WHOLE IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA


This announcement is an advertisement and not a prospectus and investors should
not subscribe for or purchase any shares referred to in this announcement except
on the basis of information in the registration document published by Aminex on
30 March, 2007 and the summary and securities note in connection with the
placing and rights issue which have been published today (together, the "
Prospectus"). Copies of the Prospectus  are available from, inter alia, the
registered offices of Aminex.


23 May, 2007


                                   AMINEX PLC
                          ("Aminex" or "the Company")

                        PLACING AND RIGHTS ISSUE UPDATE


The Board of Aminex is pleased to advise that documentation, comprising a
prospectus and notice of extraordinary general meeting, in connection with the
proposed Placing and Rights Issue announced by the Company on 15 May, 2007 is
being posted to shareholders today, 23 May, 2007. The completion of the Placing
and the implementation of the Rights Issue are conditional, inter alia, upon
shareholder approval. Such approval is to be sought at an extraordinary general
meeting of the Company convened to be held at 2.00 p.m. on 20 June, 2007 at The
Gresham Hotel, Upper O'Connell Street, Dublin 1, Ireland.

The expected timetable of principal events in connection with the Placing and
the Rights Issue is as follows:

Event                                                       Time and Date

Despatch of the Prospectus                                          23 May, 2007

Record Date for the Rights Issue                      6.00 p.m. on 15 June, 2007
Latest time and date for return of Forms of Proxy        2.00 p.m. 18 June, 2007
Extraordinary General Meeting                         2.00 p.m. on 20 June, 2007


Despatch of the Provisional Allotment Letter 
(to Qualifying Non-CREST Shareholders only)                        21 June, 2007

Dealings in the Rights Issue Shares commence, 
nil paid                                              8.00 a.m. on 21 June, 2007


Nil Paid Rights and Fully Paid Rights enabled        8.00 a.m. on 21 June, 2007*
in CREST (Qualifying CREST Shareholders only)

Ex-Rights Date (i.e. being the date from which        8.00 a.m. on 21 June, 2007
the Existing Ordinary Shares will trade 
excluding the entitlement to participate in the
Rights Issue)

Stock accounts in CREST credited with Nil Paid Rights              21 June, 2007

Admission and commencement of dealings in 
Placing Shares                                        8.00 a.m. on 21 June, 2007

CREST Accounts credited with New Warrants in 
respect of the Placing                                             21 June, 2007

Despatch of certificates to certificated holders 
of Placing Shares and New Warrants in respect of the Placing       21 June, 2007                 

Recommended latest time for requesting withdrawal 
of Nil Paid Rights from CREST (i.e. if your Nil 
Paid Rights are in CREST and you wish to
convert them to certificated form)                     4.30 p.m. on 5 July, 2007

Latest time for depositing renounced Provisional 
Allotment Letters, nil paid, in CREST or for 
dematerialising Nil Paid Rights into a CREST
stock account                                          3.00 p.m. on 9 July, 2007

Latest time and date for splitting Provisional 
Allotment Letters, nil paid                           3.00 p.m. on 11 July, 2007

Latest time and date for acceptance and payment 
in full under the Rights Issue                       11.00 a.m. on 13 July, 2007

Recommended latest time for requesting 
withdrawal of Fully Paid Rights from CREST            4.30 p.m. on 24 July, 2007

Latest time for depositing renounced 
Provisional Allotment Letters, fully                  3.00 p.m. on 27 July, 2007

dematerialising Fully Paid Rights into a 
CREST stock account 

Latest time and date for splitting Provisional 
Allotment Letters, fully paid                         3.00 p.m. on 30 July, 2007

Latest time and date for registration of 
renunciation, fully paid                             3.00 p.m. on 1 August, 2007


Admission and commencement of dealings in 
Rights Issue Shares                                  8.00 a.m. on 2 August, 2007
Expected date for crediting Rights Issue Shares 
and associated New Warrants to CREST stock accounts               2 August, 2007
Expected date of despatch of definitive share 
certificates in respect of Rights Issue Shares and 
associated New Warrants                             on or before 13 August, 2007

     
*    or as soon as practicable after Admission

Notes:

(1)  All references to time in this announcement are to time in Dublin and
     London.
     
(2)  The dates set out in the "Expected Timetable of Principal Events" above
     may be adjusted by Aminex, in which event details of new dates will be 
     notified, via a Regulatory Information Service, to the Irish Stock 
     Exchange, the FSA and the London Stock Exchange and, where appropriate, to 
     Qualifying Shareholders.

(3)  Terms defined in the Prospectus dated 23 May, 2007 shall have the same
     meaning in this announcement.

Enquiries:


For further information:

  Aminex PLC
  Brian Hall, Chief Executive                           Tel: [phone]

  Davy
  Eugenee Mulhern / Fergal Meegan                       Tel: [phone]

  Bridgewell
  Andrew Matharu                                        Tel: + 44 (0) 20 70033105

  Pelham Public Relations
  Archie Berens                                         Tel: [phone]


The contents of this announcement have been approved for the purposes of section
21(2) of the Financial Services and Markets Act 2000 of the United Kingdom by
Davy.

Davy Corporate Finance Limited and J&E Davy (collectively ''Davy'') (each of
which is regulated in Ireland by the Irish Financial Services Regulatory
Authority) and Bridgewell Limited (''Bridgewell'') (which is regulated in the UK
by the Financial Services Authority) are acting exclusively for Aminex in
connection with the requirements of the Irish Stock Exchange and the UK Listing
Authority and for no one else and will not be responsible to any other person
for providing the protection afforded to customers of Davy or Bridgewell nor for
providing advice in connection with this announcement.

Participation in the proposed Rights Issue will not be available to shareholders
resident in the United States, Australia, Canada, South Africa or Japan or any
other jurisdiction where it would be unlawful to offer participation.

This announcement does not constitute, or form part of, an offer of, or the
solicitation of any offer to subscribe for or buy, any of the Ordinary Shares or
Warrants to be issued or sold in connection with the Placing and/or Rights
Issue. Investors should not subscribe for or purchase any securities referred to
in this announcement except on the basis of information in the Prospectus to be
published by the Company in due course in connection with the Placing and Rights
Issue.

The offer of the Ordinary Shares and Warrants in certain jurisdictions may be
restricted by law and therefore potential investors should inform themselves
about and observe any such restrictions. This announcement is not for
publication or distribution, directly or indirectly, in or into the United
States. This announcement is for information only and does not constitute an
offer or invitation to acquire or dispose of Ordinary Shares or Warrants in the
United States. The Placing and Rights Issue will not be an offer of securities
for sale in the United States. Securities may not be offered or sold in the
United States absent registration or an exemption from registration. The
Ordinary Shares and Warrants have not been and will not be registered under the
US Securities Act of 1933, as amended ('the Securities Act'), or with any
securities regulatory authority of any state or other jurisdiction of the United
States, and may not be offered or sold in the United States, except pursuant to
an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. There will be no public offering of Ordinary
Shares or Warrants in Aminex in the United States.

Past performance is no guide to future performance and persons needing advice
should consult an independent financial adviser.

The distribution of this announcement may be restricted by law. No action has
been taken that would permit the possession or distribution of this announcement
in any jurisdiction where action for that purpose is required.



ENDS

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