Grant awarded

Proteome Sciences PLC
11 April 2001


                                PRESS RELEASE

                                                               11th April 2001



PROTEOME SCIENCES AND MINDSET COMBINE EXPERTISE AND RECEIVE GRANT TO ESTABLISH
       PROTEIN MARKERS IN MAJOR ALZHEIMER'S DISEASE RESEARCH PROGRAMME

Proteome Sciences plc ('Proteome Sciences'), the AIM listed proteomics and
gene expression research company, and Mindset BioPharmaceuticals Ltd
('Mindset'), the Israeli Alzheimer's disease drug discovery and development
company, are pleased to announce today that they have together been awarded a
£450,000 grant by The Britech Foundation Ltd ('Britech') for a research
programme into Alzheimer's Disease.

Proteome Sciences will use its leading edge, high sensitivity proteomics
techniques to map and quantify changes in protein expression using Mindset's
highly regarded model systems for Alzheimer's disease which will be applied to
the discovery of new targets for therapy and for new improved diagnostic
markers for this highly prolific condition.

The three year project will provide a unique and powerful partnership for drug
discovery and diagnostic markers for Alzheimer's Disease.

It has been estimated that there are about 1/2 million Alzheimer's suffers in
Britain and, according to the American Alzheimer's Association, approximately
4 million people in the US suffer from Alzheimer's. Most of them are over the
age of 65 and half of all Americans over 85 are thought to have Alzheimer's.
By 2005, it has been predicted that this will rise to over 14 million people
in the US alone. For a disease that can span from two to twenty years, the
cost in the US is currently estimated at $180bn annually.

The project has been awarded the grant by Britech, a joint UK-Israel body
established to fund innovative research programmes between commercial entities
in the two countries.

Christopher Pearce, Chief Executive of Proteome Sciences commented:-


        'Our association with this research programme and the opportunity to
        combine our proteomics skills with Mindset's experience in Alzheimer's
        in the research of this disease is another exciting development that
        will further enhance our specific and well established capabilities in
        the area of neuro-degenerative diseases.'


Commenting on the award, Tony Warwick, Chief Executive of Britech, said


        'We are delighted to be able to support this very exciting project and
        the new alliance between Proteome Sciences and Mindset. The
        biotechnology synergies between the UK and Israel continue to impress
        us enormously, and I'm confident we will be seeing many more
        high-quality projects in this sector'.

For further information please contact:
Proteome Sciences plc
Christopher Pearce,
Chief Executive                           Tel: [phone]
                                          E-mail: [e-mail]

Public Relations for Proteome Sciences
Ikon Associates
Adrian Shaw                               Tel: [phone]
                                          Mobile: [phone]
                                          E-mail: [e-mail]

The Britech Foundation Ltd
Dr Tony Warwick,
Chief Executive                           Tel: [phone]
                                          Fax: [phone]
                                          E-mail: [e-mail]

Adi Riza,
Manager
Israel                                    Tel: [phone]
                                          Fax: [phone]
                                          E-mail: [e-mail]


Notes for editors:

The Britech Foundation Ltd (www.britech.org) was formed in 1999 as a result of
an intergovernmental agreement between the United Kingdom and the State of
Israel to set up a £15.5m British-Israel industrial R&D Fund. This follows the
success of other bi-national R&D funds deployed in Israel. The Britech fund is
used to promote and encourage high-technology R&D collaboration between firms
in Britain and Israel, and provides direct support for collaborative projects
aimed at the development of commercial products or processes. Britech has
offices in Reading, UK and Tel Aviv, Israel.