Veos PLC

FDA Approval for Oves Conception Cap in USA

Veos PLC
27 March 2000


FDA APPROVAL FOR OVES(TM) CONCEPTION CAP IN UNITED STATES
 
Company Is Developing Marketing Strategy For 
Revolutionary Fertility Product Launch


London, 27 March 2000 - Veos plc ('Veos' or 'the Company'), the UK-based
female healthcare company announces that the US Food and Drug Administration
(FDA) has approved the Company's Oves(TM) cervical cap for use in artificial
insemination procedures to aid conception.

Using a modified design to the existing Oves(TM) contraceptive device, the
Company has developed the Oves(TM) fertility cap with the aim of aiding
couples who are experiencing difficulties in conceiving children under normal
circumstances. The cap has been designed to be easy to use, and can be
administered at home, a facility which sets it apart from most existing
conception-oriented products. 

The terms of the FDA approval allow Veos to make the cap available by Doctor's
prescription. The Directors will be applying shortly to extend the FDA
permission to include over the counter sales.

Following the FDA approval, Veos will now develop its market strategy and
protocols for a launch into the US.  Prior to launch, the Company plans to
undertake a comprehensive contact and educational programme with US fertility
clinics and specialists to ensure full understanding of the cap's
applications. European approval for the fertility application is currently
being sought from the relevant authorities.

Commenting on this announcement, Peggy Czyzak-Dannenbaum, Chairman and Chief
Executive of Veos, said:

'There are over 1 million couples currently attending fertility clinics in the
US.  However, while exact numbers are not known, many more couples are
experiencing difficulty conceiving than those who are actively seeking help.  
We believe our fertility cap offers some of these couples a better chance of
starting or completing a family. The FDA approval is a substantial step in
bringing this product to market.

'The fertility cap is part of our overall strategy to develop a broader range
of applications for the Oves(TM) device, which already encompass contraception
and drug delivery.  Our expertise in female healthcare and the careful
development of our products is beginning to be recognised by regulatory bodies
and we look forward to announcing the completion of further regulatory hurdles
in due course.'


For further information, please contact:

Peggy Czyzak-Dannenbaum, Chairman and Chief Executive
Veos plc                                                    Tel: 0171 643 2753

David Simonson / Melanie Toyne Sewell
Merlin Financial                                            Tel: 0171 606 1244


Notes to Editors

Veos, incorporated in 1999, owns the patent and worldwide distribution rights
to the Oves(TM) product range, which currently consists of a revolutionary
female contraceptive cap, the fertility cap and additional applications in
protection against sexually transmitted diseases (STDs) and drug delivery
under development.  The Oves(TM) contraceptive cap is a discrete, disposable
and hygienic silicone device developed over the last decade using proven
female barrier contraceptive technologies.

In December 1999, the Company listed on the Alternative Investment Market and
raised £6.5 million (gross) of new capital by way of an institutional Placing.
The Ordinary shares of 10p each were placed at 71p per share, valuing the
Group at £16.2million.   As at 24 March 2000 the shares were at 134p with a
market capitalisation of £29 million.  Williams de Broe is Nominated Advisor
and Broker.