17 September 2001 -  Eurogentec completes an EURO 5 million round of financing aiming at fuelling its expansion strategy

Belgium, Liège - 17 Oct. 2001

EUROGENTEC, a leading provider of research tools and services for the Life Sciences community, announced today that it has successfully increased its capital through a private placement of EURO 5 million subscribed by existing shareholders and new investors. This new cash injection will help the company to deploy its growth strategy internationally.

Jean-Pierre Delwart, CEO of EUROGENTEC, commented, "I am delighted with that success, which comes during such though market conditions. This strong mark of confidence from our shareholders and new investors gives me great pride in our business model, our management and our scientific excellence. It encourages us to pursue our efforts and further accelerate our business initiatives".

The funding comes at a time when concentrating forces are driving key segments of the Life Sciences market. It will enable EUROGENTEC to grasp investment opportunities arising worldwide and especially will ensure an operational and commercial presence on the US market and reinforce its expansion plans in the Far East.

Puilaetco Corporate Finance is proud to have been selected by EUROGENTEC as its exclusive advisor in conducting this successful transaction.

About EUROGENTEC

EUROGENTEC is a leading supplier of reliable services and products for Genomic and Proteomic research. A top 5-world leader in oligonucleotide synthesis, the Company also specialises in GMP production and new drug targets developments for the biopharmaceutical industry.

EUROGENTEC has developed a broad platform of enabling technologies and has accumulated expertise in both front-end molecular biology and downstream applications all the way to production of clinical trial material. The Company is able to offer its clients an integrated solution, whether they use DNA, antibodies, peptides or proteins as research tools.

EUROGENTEC's activities are organised around 4 business units. The "Genomics" unit offers oligonucleotide synthesis, DNA sequencing, Real-Time PCR, DNA MicroArray services and a wide range of kits and consumables. The "Proteomics" unit gathers antibody, peptide and transgene services. EUROGENTEC's "Biologics" unit is a full-service Contract Research Organisation (CRO) delivering research, development and production services for GMP clinical batch manufacturing. The "Systems" unit sells instruments to the Genomic and Proteomic community.

EUROGENTEC's headquarters are located in the Sart Tilman Science Park (Liège). The Company has subsidiaries in France, Germany, the UK, the Netherlands and a newly incorporated joint venture in Japan. It currently employs 228 people, including 30 PhDs. Revenues grew from Euro 7 million in 1995 to Euro 21 million in 2000 with a Euro 3.5 million EBITDA.

EUROGENTEC participates in innovative research projects through strategic alliances with other companies and renowned academic laboratories. It is a consortium member in various European research projects. It has collaborative agreement with the Catholic University of Leuven (Belgium) for the production of a transgenic service center, with the German Cancer Research Center (DKFZ, Heidelberg, Germany) and the Laboratory of Microbial Genetics (Jouy-en-Josas, France) for the development of DNA MicroArray technology. In early 2001, it set up the spin-off Probiox, supported by internationally renowned scientist Professor Montagnier, aiming at developing new chips to detect oxidative stress.