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Veos PLC (VEO)


Tuesday 11 December, 2001

Veos PLC

Trading Statement

Veos PLC
11 December 2001

                      Veos plc (the 'Company' or 'Veos')

                                Trading Update

Veos , the female sexual health company, announces that it has taken steps to
reduce overheads and the Company's current cost base.

On 28 September 2001, the Board stated that it was currently considering a
number of options to resolve its funding need and that it would write to
shareholders when one or more of these options had become further advanced.
Following that announcement, on 11 October 2001 the Board stated that it was
pursuing the possibility of raising funds in the United States through a
private placing of its ordinary shares, subject to shareholder approval.
Discussions are progressing with potential investors and the Board hopes to be
able to inform shareholders as to the outcome of those discussions in the near

In the mean time, the Board is taking action in order that the long term
prospects for the Company are protected. These actions include a reduction in
headcount and a short term cut back in marketing spend. As at 30 November 2001
the Company's available cash resources amounted to £500,000 and as a result of
the reduction in overheads the Company's monthly cost base has been reduced to
£130,000. The Board believes that the reduced level of expenditure represents
the minimum necessary to sustain value in the Company and to give the Board
maximum flexibility in exploring all strategic options.


Peggy Czyzak Dannenbaum CEO, Veos plc                  Tel: 020 7960 6066

Rob Wilkinson           Finance Director, Veos plc     Tel: 020 7960 6066

Paul Lewakowski         President, Veos USA Inc        Tel: 001 847 735 0003


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