Research Update

Proteome Sciences PLC
26 March 2001

                            PROTEOME SCIENCES plc

                                PRESS RELEASE

                                                       26 March 2001


PROTEOME SCIENCES ESTABLISHES A MAJOR HIGH SENSITIVITY PROTEOMICS REASEARCH
FACILITY AT KING'S COLLEGE, LONDON

                                     AND

 ANNOUNCES COLLABORATION WITH THE INSTITUTE OF PSYCHIATRY (KCL) TO ADDRESS A
                     RANGE OF NEURODEGENERATIVE DISEASES.



Proteome Sciences plc, the AIM listed proteomics and gene expression research
company, and King's College, London (KCL) have agreed that Proteome Sciences
will set up a leading edge proteomics facility at KCL within the Institute of
Psychiatry (IoP), King's College London, and have also entered into a
collaboration to address neurodegenerative diseases.

The creation of what will be one of the most advanced proteomics research
facilities in Europe is a major strategic development for Proteome Sciences in
that it brings to the Company leading edge research capability of its own,
which will enable it to conduct external research programmes with corporate
partners. This will further strengthen the Company's ability to enter into
strategic agreements with pharmaceutical and biotechnology companies wishing
to exploit the commercial applications of Proteome Sciences' intellectual
property on protein markers, in the areas of diagnostics, prognostics and
therapeutics.

The facility will focus on high output proteomics, using high sensitivity
protein separation techniques combined with leading edge mass spectrometry
from a powerful combination of the latest mass spectrometry instrumentation.
Staffing and equipment for the facility has been provided by Proteome
Sciences. This brings together leading expertise in the two main disciplines
with Dr. Michael Dunn (formerly at the Heart and Lung Research Centre,
Harefield Hospital, Imperial College, London and Chairman of the British
Electrophoresis Society) heading the specialist protein separation team and
Malcolm Ward (formerly at Glaxo Smith Kline, Stevenage) leading the mass
spectrometry and sequencing team.

The neurodegenerative diseases research at IoP addresses the pathogenic
mechanisms for Alzheimer's, Parkinson's and motor neurone disease as well as
rarer conditions. The objectives of the research group are to improve
diagnostic accuracy, discover new treatments and improve existing care of
patients with these conditions.

Proteome Sciences and IoP have agreed to collaborate to address a range of
neurodegenerative diseases at the new facility where Proteome Sciences will
bring its skill in protein separation, identification and characterisation and
IoP will provide its expertise in the pathogenic mechanisms for
neurodegenerative diseases. This will create a very powerful approach and
should accelerate the discovery process for new therapeutic treatments and
diagnostic techniques. Proteome Sciences will have the option for an exclusive
license agreement for commercialisation of the results generated from the
research collaboration.

Commenting on the proteomics facility and the collaboration with Institue of
Psychiatry, Kings College London, Professor Stuart Checkley, Dean of the
Institute of Psychiatry said:-


        'This is an exciting opportunity for the Institute of Psychiatry to
        access leading edge protein separation and mass spectrometry with
        Proteome Sciences and to apply proteomics across a range of diseases
        in our neurosciences research. We look forward to a highly productive
        collaboration with one of the leaders in proteomic research.'

Professor Brian Anderton, Chairman of the Neurodegenerative Diseases at the
Institute of Psychiatry (KCL) added:-


    'Research into neurodegenerative diseases is at a stage at which it can
    benefit enormously from the application of proteomics. This new
    collaboration will undoubtedly enable us to push forward our current
    research strategies.'

Commenting on this news Christopher Pearce, Chief Executive of Proteome
Sciences

said:-


        'Having a leading edge research capability to be headed up by two of
        Europe's key figures in the field of proteomics, combined with the
        focus on high sensitivity rather than high throughput, significantly
        strengthens Proteome Sciences' position at the forefront of applied
        proteomics'.

        'Our link up with the Institute of Psychiatry provides us with an
        important opportunity to assist in the understanding, diagnosis and
        treatment of some major neurodegenerative diseases and to use our
        skills in proteomics to identify protein markers with considerable
        commercial potential'.



                                     ENDS

For further information please contact:

Proteome Sciences plc   Tel: [phone]

Christopher Pearce, Chief Executive

Institute of Psychiatry, King's College London  Tel: [phone]

Professor Brian Anderton

Public Relations for Proteome Sciences plc

Ikon Associates

Adrian Shaw    Tel: [phone]   Mobile: [phone]

E-mail:[e-mail]