Interim Results - 6 Months to 30 September 1999

Aortech International PLC
15 December 1999

                                                            
 Interim Results for the Six Months Ended 30 September 1999
                              
AorTech  International plc, the Scottish-based  manufacturer
of  cardio-vascular devices, announces its  Interim  Results
for  the  six  months ended 30 September 1999.  The  Company
continues to achieve its objectives and has made significant
progress in the past six months.

Highlights

*    Turnover increased 30% to £1.62 million; Loss for  the
     period reduced to £110,445

*    Tissue valve business acquired

*    TruCOMMS FDA approval secured

*    Additional evaluation agreements for Elast-eon signed

*    Trileaflet heart valve design completed

*    Funds  in  place  to  meet  current  working  capital
     requirements

Gordon Wright, Chairman, commented:

'A  sharp  increase  in  sales  of  Tissuemed  heart  valves
contributed  to  the  overall  increase  in  sales  and   we
anticipate  further  growth  during  the  remainder  of  the
current  financial year.  Sales of the Mitral Repair  System
have  been  very encouraging and the manufacturing agreement
with  Novoste Inc continues to provide a valuable source  of
revenue.

'The  last six months has been a period of progress,  growth
and  continued  development of AorTech  and  your  Directors
expect  that  the  next twelve months will  produce  further
significant opportunities.

'We  are  particularly  excited  about  the  continued  good
results from our trileaflet heart valve development and look
forward  to the commencement of clinical trials in  patients
in 2001.'

                                           15th December 1999

ENQUIRIES:

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

Bell Lawrie White & Co.            Tel:  [phone]
Clive Thomson / Elizabeth Kennedy

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


        CHAIRMAN'S AND MANAGING DIRECTOR'S STATEMENT

The six month period has seen truly significant advances  in
all  of  AorTech's  main activities and we are  particularly
pleased   that   the   long  term  significance   of   these
achievements is increasingly being recognised by  investors.
The  value that the Market is now placing upon AorTech is  a
tangible  endorsement of the Directors'  confidence  in  the
Company's  excellent prospects in the global medical  device
market.

The highlights of this period have been:

* Acquisition  of  the  tissue valve manufacturing  business
  and related patents of Tissuemed Limited.
* Conclusion  of  agreements  to  secure  ownership  of  the
  intellectual property for the innovative TruCCOMS  cardiac
  monitoring system.
* FDA  regulatory approval for TruCCOMS, allowing marketing
  in the USA.
* Completion  of the design for the new synthetic trileaflet
  heart valve.
* Durability  tests  on  the trileaflet  valve  passing  300
  million cycles (equivalent to 7.5 years in patients).
* Further  evaluation agreements for Elast-eon  biomaterials
  entered into by Elastomedic.

Results for the Period and Financial Position

We are pleased to report a further increase in the Company's
turnover  for the six month period to 30 September  1999  to
£1,619,266 which represents an increase of approximately 30%
over the same period last year. The pre tax loss of £110,000
represents   a   significant  decrease,   of   approximately
£165,000, compared to the same period last year.  This is  a
result of increased sales and improvement in gross margins.

A   sharp  increase  in  sales  of  Tissuemed  heart  valves
contributed  to  the  overall  increase  in  sales  and   we
anticipate  further  growth  during  the  remainder  of  the
current  financial year following the recent acquisition  of
this business.

During  the  period, AorTech concluded a  distribution  deal
with  MEDOS  in  Germany  for both  Tissuemed  and  Ultracor
valves.  Sales  of the Mitral Repair System have  been  very
encouraging and the manufacturing agreement with Novoste Inc
continues  to  provide  a valuable  source  of  revenue  and
recognition  of  the  Company's  manufacturing  and  quality
control procedures.

  It  is  anticipated that the turnover for  the  six  month
period  to 31 March 2000 will show further growth  over  the
period to 30 September 1999.


As  at  30 September 1999 the Company had cash resources  in
excess  of  £2  million. These resources are  sufficient  to
complete  the  initial  commercialisation  of  the  TruCCOMS
system and to meet our current working capital requirements.

Tissuemed

On  1  September 1999, the Company acquired the heart  valve
division  of Tissuemed Limited for £800,000 in cash  with  a
further   £200,000   deferred   consideration   related   to
performance. This was partly funded by a Placing of  141,000
shares which raised £500,000. Prior to this acquisition, the
Company  had  exclusive  worldwide  distribution  rights  in
respect  of Tissuemed's heart valves. The acquisition  means
that AorTech now has ownership of a range of both mechanical
and tissue heart valve replacements. The tissue valve market
is  showing  significantly more growth than  the  mechanical
valve  market and this acquisition ensures that  AorTech  is
well placed to take advantage of this growth.


TruCCOMS

On   30  July  1999  we  announced  that  we  had  concluded
agreements  to  secure rights to the intellectual  property,
including  the  USA  patents  for  the  innovative  TruCCOMS
cardiac   monitoring  system.   In  our  view  this   system
represents  a  major  breakthrough  in  the  monitoring   of
patients' cardiac output both during and after surgery.  The
system, which consists of a disposable catheter linked to an
analytical  and  display  monitor,  provides  an   immediate
response  and  continuous monitoring of cardiac  output  and
addresses   shortcomings  in  current  clinical   assessment
technology during surgical procedures and in intensive care.

Development  work has been carried out and completed  during
the last 21 months and the first phase of clinical trials in
Papworth  Hospital  in England confirmed  the  accuracy  and
immediate response of the system. Market enquiries  indicate
that  TruCCOMS  will  provide  improved  patient  management
information,  which is not currently available to  surgeons,
anesthetists,  cardiologists and critical care  specialists.
The final phase of clinical trials of TruCCOMS commenced  in
mid-September and should be concluded in the early  part  of
2000.

On 4 November 1999, we announced that US regulatory approval
had  been obtained for TruCCOMS. The achievement of the Food
&  Drug  Administration approval allows  us  to  market  the
system  in  the  USA and the Directors anticipate  that  the
technology will be ready to enter intensive care  units  and
operating  theatres  during the first quarter  of  the  year
2000. European regulatory approval is anticipated during the
early  part  of  next  year.  We believe  that  the  present
worldwide  thermal dilution catheter market of approximately
US$200 million per annum will increase with the introduction
of our new system. It is intended to manufacture TruCCOMS at
the Company's facility in Scotland.
                  AORTECH INTERNATIONAL PLC
   Interim results for the six months ended September 1999

The  acquisition of the intellectual property together  with
the  development  of  TruCCOMS to date through  to  clinical
trials  represents  a  major breakthrough  by  the  Company.
TruCCOMS   will,   your  Directors  believe,   continue   to
contribute towards real growth in shareholder value.

A Placing which raised £2.88 million was concluded in August
1999.  This raised funds to complete the acquisition of  the
TruCCOMS  system,  finalise  the  development  and  clinical
trials of the system and for its initial commercialisation.


New Synthetic Trileaflet Heart Valve

Our  new  synthetic trileaflet heart valve is considered  by
the  Directors to represent the major development  in  heart
valve replacement during the last 25 years.  The purpose  of
this  new  valve  is to overcome the major problems  of  all
current  replacement heart valves namely the requirement  of
patients  to  take  daily anti-coagulants  in  the  case  of
mechanical  valves and the relatively short life span  (6-10
years) of tissue valves.

      We  are pleased to confirm that the design of the  new
synthetic trileaflet heart valve has been completed and that
full    patent   filings   in   all   countries   considered
strategically important by the Directors were made  in  June
1999.  The design of the new valve has met all key tests  to
date  and  continuous simulated durability trials are  still
progressing.   Our  valves  have already  achieved  critical
durability   levels  of  300  million  cycles  in   testing,
representing  7.5 years in patients.  Home  Office  approval
has  been granted for the first phase of in-vivo testing  of
the  valves  and  this has now commenced with  valves  being
implanted  in  sheep in November 1999.   There  are  further
milestones to be passed relating to the long term durability
and  the  final results of biostability and biocompatability
in  these  animal trials.  All of the results to  date  give
your  Directors confidence that the final development  phase
for  this  product  will  result  in  a  new  generation  of
replacement  heart  valves suitable for clinical  trials  in
patients during 2001.

 The Directors are aware that major medical device companies
in the US have, over a number of years, sought to develop  a
new  synthetic heart valve to overcome the current  problems
of   mechanical  valves  and  tissue  valves.   We  believe,
therefore,  that  the  commencement of  clinical  trials  in
patients  in  respect  of  our  new  valve  should  have   a
significant   effect   on  the  share   value   and   market
capitalisation of the Company.


Elastomedic

The  decision  both to invest in Elastomedic and  to  obtain
exclusive worldwide rights to the new biomaterials  for  use
in  the  synthetic  trileaflet heart valve  has  been  fully
justified  by  the  exciting  results  being  achieved.   In
addition,  Elastomedic  has concluded evaluation  agreements
with  twelve  major corporations for use of the material  in
other  medical devices.  The use of the materials in medical
device  applications other than heart valves  provides,  the
Directors believe, opportunities for major growth  not  only
for  Elastomedic but also for AorTech through its investment
in that company.


Future Prospects

The  acquisition and development of TruCCOMS, together  with
the continued development of the new trileaflet heart valve,
demonstrates  our determination not only to  expand  further
our  product base but also to introduce innovative  products
to  the  medical device market with, we believe, significant
profit   potential.   Obtaining  regulatory   approval   for
TruCCOMS  together with the commencement of  sales  of  this
product  will  have a substantial benefit on the  long  term
future growth of AorTech.

We are particularly excited about the continued good results
from  our  trileaflet heart valve development  and  we  look
forward to the progress of this project during the course of
the  next  twelve months and to the commencement of clinical
trials in patients in 2001.  The Directors believe that this
will  have  a  further significant impact on the performance
and future prospects of the Company.

Given  the  Company's prospects and plans  for  growth,  the
Directors   are  examining  the  merits  of   a   range   of
stockmarkets on which the Company's shares might be  traded.
These  include the Official List, with the option of joining
techMARK, and NASDAQ in the USA.

The  continued development and progress of AorTech has  been
the  result  of  dedication and commitment  by  all  of  the
Company's  employees, our University partners in the  United
Kingdom  and  our  colleagues in  Australia.  We  take  this
opportunity  to thank all of our team for their  outstanding
contribution  and also to thank our shareholders  for  their
continued support.

The  last  six months has been a period of progress,  growth
and  continued  development of AorTech  and  your  Directors
expect  that  the  next twelve months will  produce  further
significant  opportunities  and growth  prospects  for  your
Company.

                                        J G Wright, Chairman
                                 E McDaid, Managing Director
                                            15 December 1999

                              
       CONSOLIDATE PROFIT AND LOSS ACCOUNT (UNAUDITED)
                              
                              
                                      Six months ended   Year ended
                                          30 September      31March
                                        1999      1998         1999
                            Note           £         £            £
                                                        
Turnover                     2    1,619,266  1,250,435  2,779,315
                                                        
Cost of sales                     (644,848)  (640,736)  (1,239,431)

Gross profit                       974,418    609,699    1,539,884
                                                        
Net operating expenses           (1,068,979) (901,300)  (1,883,105)
                                  
Loss on ordinary activities       (94,561)   (291,601)  (343,221)
before interest
                                                        
Interest receivable                11,068     48,656     83,385
Interest payable                  (26,952)   (32,084)   (60,748)

                                                        
Loss on ordinary activities                             
before and after Taxation    2    (110,445)  (275,029)  (320,584)
                                                        
Loss per ordinary share      3    (0.5)p     (1.4)p     (1.6)p

                                                                   

Statement of total                                                  
recognised losses

Loss for the period               (110,445)  (275,029)  (320,584)
                                                        
Currency translation                                    
differences arising on            (506)      634        (17)
consolidation

Total recognised losses           (110,951)  (274,395)  (320,601)

                              
           CONSOLIDATED BALANCE SHEET (UNAUDITED)
                              

                                            30 September   31 March
                                         1999       1998       1999
                                            £          £          £
                                                          
Fixed assets
                                                          
Intangible assets                  4,034,196  925,676     1,433,295
Tangible assets                    1,014,959  772,169     1,040,170
Investment in associated           761,479    488,896     622,287
undertaking

                                   5,810,634  2,186,741   3,095,752
                                                          
Current assets
                                                          
Stocks                             1,854,695  1,355,287   1,651,874
Debtors                            1,298,400  1,103,548   1,155,550
Cash at bank                       2,066,324  1,871,395   576,779
                                   5,219,419  4,330,230   3,384,203
                                                          
Creditors: amounts falling due    (2,054,949) (906,141)   (896,581)
within one year                   
                                                          
Net current assets                 3,164,470  3,424,089   2,487,622
                                                          
Total assets less current          8,975,104  5,610,830   5,583,374
liabilities
                                                          
Creditors: amounts falling due     (420,875)  (478,391)   (355,964)
after more than one year
                                                          
Accruals and deferred income       (287,681)  (50,000)    (199,169)

Net assets                         8,266,548  5,082,439   5,028,241
                                                          
Capital and reserves
                                                          
Called up share capital            6,015,845  5,081,818   5,081,818
Share premium account              6,942,735  4,535,496   4,527,504
Other reserve                     (2,003,143)(2,003,143) (2,003,143)
Profit and loss account           (2,688,889)(2,531,732) (2,577,938)          
Shareholders' funds                8,266,548  5,082,439   5,028,241


                  AORTECH INTERNATIONAL PLC
   Interim results for the six months ended September 1999
                              
        CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED)
                              
                                    Six months ended  30  Year ended
                                               September    31 march
                                         1999       1998        1999
                              Note           £          £           £
                               
                                                          
Net cash outflow from              (382,212)  (447,333)   (816,453)
operating activities
(see below)
Returns on investment and          (20,896)   16,572      20,763
servicing of finance
Capital expenditure and            (1,334,938) (822,648)  (1,638,912)
financial investment             

                                                          
                                                          
Cash outflow before                (1,738,046) (1,253,409) (2,434,602)
management of liquid             
resources and financing                                   
                                                          
Management of liquid               (1,341,478) (1,800,000)  (495,064)
resources                          
Financing                          3,227,591  2,757,871   2,642,943

                                                          
Increase/(decrease) in cash    4   148,067    (295,538)   (286,723)
in the period

                              
                              
Reconciliation of operating loss to net cash outflow from
operating activities
                              
Continuing activities                                  
Operating loss                     (94,561)  (291,601)  (343,221)
Amortisation of intangible fixed   21,870    15,019        30,147
assets
Depreciation of tangible fixed     86,010    80,585         179,864
assets
Gain on sale of tangible fixed     (14,311)  -              -
assets
Release from deferred grants       (25,000)  -           (30,435)
Increase in stocks                 (202,821)  (239,352)  (535,939)
                                   
Increase in trade debtors          (19,770)  (226,150)  (352,885)
Decrease/(increase) in             46,561    (83,482)    (77,706)
prepayments
(Increase)/decrease in other       (165,517)  166,833     235,397
debtors                            
(Decrease)/increase in trade       (67,298)  130,201     104,108
creditors
Increase/(decrease) in other       4,451     (2,691)        8,175
taxes and social security
Increase/(decrease) in accruals    48,174    3,305       (33,958)
                                                             
Net cash outflow from operating    (382,212)  (447,333)  (816,453)
activities                         

                              
                              
                            NOTES
                              
1. Basis of preparation

These  unaudited  interim  financial  statements  have  been
prepared on the basis of the accounting policies set out  in
the  Group's annual report for the year ended the  31  March
1999.

The   financial  information  contained  in  these   interim
financial statements does not constitute statutory  accounts
within the meaning of section 240 of the companies Act 1985.
The  financial information for the year ended the  31  March
1999  is  an  extract  from the latest  published  financial
statements  that  have been delivered to  the  registrar  of
companies and on which the auditors' report was unqualified.

2  .Segmental analysis by class of business and geographical
area

  a Class of business   The group operates in one class of
business
  
  b Geographical area   The analysis by geographical area
                         of the group's turnover, loss
                         before tax and net assets is set
                         out below:
  
  
(i) turnover
  
                      Six months          Six months         Year ended
                           ended               ended      31 March 1999
                    30 September        30 September
                            1999                1998
                                
               Sales by    Sales  Sales by     Sales  Sales by    Sales
               destina-       by  destina-        by  destina-       by
                   tion   origin      tion    origin      tion   origin
                      £        £         £         £         £        £
                                                                       
Geographical
segment
United          284,587  1,380,665  304,239  991,245  997,817  2,289,097
Kingdom                                                         
Rest of       1,313,918  238,601   871,176   259,190  1,746,693  490,218
Europe                              
Rest of          20,761        -    75,020         -    34,805        -
World
              1,619,266  1,619,266 1,250,435  1,250,435 2,779,315 2,779,315
                                    

(ii) loss before tax

                                Six months   Six months       Year ended
                                     ended        ended         31 March
                              30 September 30 September             1999
                                      1999         1998                £
                                         £            £
                                                         
Geographical segment
United Kingdom              (96,996)       (295,880)     (347,743)
Rest of Europe              2,435          4,279         4,522
Loss before interest        (94,561)       (291,601)     (343,221)
Net interest                (15,884)       16,572        22,637
(payable)/receivable
                            (110,445)      (275,029)     (320,584)


(iii) net assets

                                         30          30          31 March
                                  September   September              1999
                                       1999        1998                 £
                                          £           £
                                                                         
Geographical segment
United Kingdom                    8,060,933   4,927,438         4,863,194
Rest of Europe                      205,615     155,001           165,047
                                           
                                  8,266,548   5,082,439         5,028,241


1. Loss per ordinary share

The  basic loss per ordinary share is calculated on the loss
of  the group of £110,445 for the six months to 30 September
1999  (  six  months ended 30 September 1998: £275,029  year
ended  31 March 1999: £320,584) and on the following  number
of shares:

a    21,031,041  equity  shares being the  weighted  average
     number  of shares in issue during the six months  ended
     the  30 September 1999 after the issue of an additional
     3,595,106 new ordinary shares on the 27 August 1999 and
     an   additional  141,000  new  ordinary  shares  on  10
     September 1999

b    19,267,759 equity shares being weighted average number
     of shares in issue during the six months ended 30
     September 1998

c    19,833,420 equity shares being the weighted average
     number of shares in issue during the year ended 31
     March 1999


1 .Analysis of net funds
                              
                         1st April        Cash    Non-cash  30 September
                              1999        flow     changes          1999
                                 £           £           £             £
                                  
Net Cash:                                                  
Cash at bank and in     576,779     1,489,545  -           2,066,324
hand
Deposits treated as     (495,064)   (1,341,478) -           (1,836,542)
liquid resources  
                        81,715      148,067    -           229,782
                                                           
Liquid resources:                                          
Deposits included in    495,064     1,341,478  -           1,836,542
cash
                                                           
Debt:                                                      
Debt due within one     (168,912)   121,667    (90,089)    (137,334)
year
Debt due after more     (355,964)   -          90,089      (265,875)
than one year
                        (524,876)   121,667    -           (403,209)
                                                           
Net Funds               51,903      1,611,212  -           1,663,115
                              
                              
1. Millennium Compliance
                              
The  company has completed the upgrading and testing of  all
its  systems and the Board believes that all reasonable  and
appropriate  measures have been taken  to  avoid  commercial
disruption.

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