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General Industries (GNI)

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Monday 23 January, 2006

General Industries

Circ re. ImmuPharma posted

General Industries PLC
23 January 2006

                              General Industries PLC

                        Reverse Takeover circular posted

For immediate release
                                                                 23 January 2006

Proposals were announced by General Industries PLC ('GI') earlier today relating
to the reverse takeover of ImmuPharma plc and a placing of new shares for cash.
A circular containing details of these proposals and a waiver of an obligation
under Rule 9 of the City Code on Takeovers and Mergers has now been posted to GI

The Extraordinary General Meeting of GI has been convened for 12 noon on 15
February 2006. Subject to the passing of the resolutions to be proposed at the
Extraordinary General Meeting, dealings in new shares issued to the vendors of
ImmuPharma and to placees are expected to commence on AIM on 16 February 2006.

Richard Wollenberg, Chairman of General Industries PLC      Tel:01784 437444
Richard Warr, Executive Chairman of ImmuPharma plc          Tel:020 7152 4080

David Floyd, Dawnay, Day Corporate Finance Ltd              Tel:020 7509 4570

Capel Irwin, KBC Peel Hunt Ltd                              Tel:020 7418 8900

Caroline Cecil, Caroline Cecil Associates, PR consultant    Tel:020 7610 4110

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