AGM Statement

Aortech International PLC
01 October 2004


Immediate Release                                               1 October 2004



                            AorTech International plc

                          ('AorTech' or 'the Company')

                             Annual General Meeting



AorTech International plc, the biomaterials intellectual property and material
manufacturing Company gave the following update at its AGM today.



Since the last AGM our share price has moved from £1.00 to the current level of
£1.85 which, is an increase of 85%. This is modest from this low level, however
the Board believes that it reflects our relatively minimal news flow, which in
turn, is a result of the very nature of our business. In most cases we have to
sign strict confidentiality agreements with our Partners as our materials and
developments are usually used in their new product development programmes, which
restricts us from issuing press releases relating to these events.



Key current events:

  • Four major projects are being discussed or negotiated relating to:
      • Breast Implants
      • Heart Valves
      • Stents
      • Spinal Discs
  • We have up to 20 projects of varying complexity in the pipeline
  • We have succeeded in developing our Melbourne manufacturing and technology
    centre into a key strategic asset



Whilst I accept that we have not yet turned these projects into significant
revenues the Board is delighted with the progress to date. Additionally, as I
said last year, we have started to move up the value chain by developing new
products using Elast-Eon and it is our intention to license these products to
major medical device companies.



AorTech has completed its first year as an early stage biomaterials and medical
device development company. The Board continues to believe that there are
considerable opportunities in this large specialist and high growth market,
particularly for implants where material specifications are challenging and
added value can be high. The company is a small, but capable organisation and
expenses have been predictable and very closely managed. The Board remains
encouraged by the positive response from most of the large global medical device
companies and their significant interest in the Company's material technology
and its product development and manufacturing capabilities.



Commenting on the progress of AorTech, Laurie Rostron, Non-Executive Chairman
said:

'AorTech has completed its first year as an early stage biomaterials and medical
device development company. The strategic plan has been agreed, the technology
is in place and the market appears to be receptive. Coupled with our reduced
cost base and strengthened board, the immediate challenge is to create a solid,
sustainable business from this opportunity.'



For further information please contact:
AorTech International plc                       Tel:  [phone] (thereafter)
Laurie Rostron, Non-Executive Chairman
Frank Maguire, Chief Executive
Ian Cameron, Finance Director

Buchanan Communications                         Tel:[phone]
Lisa Baderoon, Rebecca Skye Dietrich



Visit AorTech's new website at: www.aortech.com


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