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Wednesday 09 April, 2003

Takeover Panel

Oxford Glycosciences

Takeover Panel
09 April 2003


                                   Offers by

                        Celltech Group plc ('Celltech')


             Cambridge AntiBody TechnologY GROUP plc ('Cambridge')


                      Oxford Glycosciences plc  ('Oxford')

Rule 31.9 of the Code requires that the board of an offeree company should not,
except with the consent of the Panel, announce trading results after the 39th
day following the posting of the offer document.  Normally, therefore, the last
day for publication by Oxford of trading results in the context of the competing
offers for it by Celltech and Cambridge would have been today, Wednesday 9
April.  However, Rule 31.9 also provides that where it is not practicable to
make such an announcement before Day 39, the Panel will normally grant its
consent to a later announcement and will normally be prepared to grant an
extension to the other key dates in the offer timetable.

In response to a request by Oxford, the Panel Executive has consented to the
release of Oxford's preliminary results for the year ended 31 December 2002
after Day 39 and Oxford announced earlier today that those results would be
released on or about 29 April.  The Panel Executive has ruled that each of
Celltech and Cambridge will be entitled to a further 7 days in which to revise
its offer and, as a result, Day 46 (the last day for posting a revised offer)
for the competing offers for Oxford by Celltech and Cambridge will be 7 days
after the release of Oxford's trading results (i.e. on or about Tuesday 6 May).

9 April 2003

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

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