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Veos PLC (VEO)

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Monday 26 February, 2001

Veos PLC

AGM Statement

Veos PLC
26 February 2001

26 February 2001

                                   VEOS PLC

                      AGM STATEMENT AND BUSINESS UPDATE

Veos plc ('Veos' or the 'Company'), the female healthcare company, held its
Annual General Meeting in London today.

At the meeting Chief Executive, Peggy Czyzak-Dannenbaum described the progress
made by the Company, in particular the imminent launch of its contraceptive
product, OvesTM, with Boots. Her statement is below:

'Since we issued the Interim statement we have made significant advances with
our launch of OvesTM into the UK market. We have also made two appointments to
the management team.

'The Boots launch is firmly on track and on 1st March 2001, approximately 420
Boots stores across the country will commence selling OvesTM contraceptive
caps over the counter. Together with Boots, we have set up a sophisticated
customer support system including a helpline (Tel: 0845 100 1122) which began
operating today, and a list of OvesTM-trained GPs and family planning clinics
will be included on our website, www.oves.com.

'The briefing and training of the medical and family healthcare community is
also well underway. Since the beginning of the year, we have arranged a series
of briefings and conferences around the country with organisations such as the
National Association of Nurses in Contraceptive and Sexual Health and the
Margaret Pyke Family Planning Centres. We are also participating in national
conferences for Family Planning nurses and GPs. All of these initiatives will
continue throughout the launch period to ensure maximum education for and
support from the medical community in the long term.

'To complement these briefings, we have produced a medical information booklet
which holds all the medical data on OvesTM, and a leaflet for GPs with a basic
overview of the OvesTM cap. In addition, we are producing a training CD ROM.
The GP leaflet has already been mailed to approximately 35,000 GPs and a
further 35,000 leaflets have been included in the most recent copy of 'Doctor'
magazine. We are also undertaking a publicity exercise with the GP and nurses
trade publications, and building profile for the OvesTM cap in the consumer
press.

' We are in the advanced stages of planning a full efficacy study in the UK
for the OvesTM cap under the guidance of contraceptive specialist Dr Ali Kubba
and a similar study is being planned in the United States under Dr Erica
Gollub of the University of Pennsylvania. The UK results are expected by the
end of 2001, and the timing of results in the US are dependent on the protocol
agreement with the FDA.

'Currently the UK is our primary market for the contraceptive product and we
believe it is essential to establish ourselves here first. Judging by the
positive responses coming from the medical community so far, we are pleased
with our progress. We will continue to focus our commercial strategy solely on
the UK market before extending the roll-out elsewhere.

'With regard to the potential conception application of the OvesTM cap, the
company is in the process of wide-ranging consultation with fertility
specialists in the UK and US to assess the commercial potential of this
product. The Board will provide further updates on this when appropriate.

'Since issuing the Interim statement we have strengthened the Board and
management team running and advising Veos. Paul Lever came on board in
December as Non-Executive Chairman and we are pleased to announce today the
appointment of Tony Rutherford as Medical Advisor to the Company. Both Paul
and Tony have extensive experience in their respective fields, and we are very
pleased that they have joined the team.

'This is a very exciting time for the Company and we will continue to keep you
informed of our progress going forward.'

                                    -Ends-

For further information, please contact:
Peggy Czyzak-Dannenbaum, Chief Executive
Veos plc                                                          020 7960 6066

David Simonson / Melanie Toyne Sewell
Merlin Financial                                                  020 7606 1244



Notes to Editors

 1. Veos

    Veos, incorporated in 1999, owns the patent and worldwide distribution
    rights to the Ovesa 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 Ovesa 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 £16.2 million. Williams de Broe is Nominated Advisor
    and Broker.
 2. Boots The Chemists

    Boots The Chemists is the UK's leading retailer of health and beauty
    products with over 63,000 employees and over 1,400 stores ranging from
    small community pharmacies to city centre department stores. As part of
    its healthcare division, Boots dispenses over 70 million prescriptions
    each year, and employs over 4,000 pharmacists.
 3. Tony Rutherford


    Tony Rutherford is the Director of the Reproductive Medicine Unit at Leeds
    General Infirmary and a respected gynaecological and fertility specialist.
    He is a Fellow of the Royal College of Obstetrics and Gynaecology and is
    an Inspector for the Human Fertilisation and Embryo Authority.


                         

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