05 July 2001 - With the creation of Nippon EGT, Eurogentec is moving into Japan, the fastest growing biotech market

Sart-Tilman, 5st of July, 2001

Eurogentec, BMI-SBI and Nippon Gene Co., ltd. are announcing the creation of a joint venture, Nippon EGT, whose mission will be to produce oligonucleotides aimed at the Japanese market. Nippon EGT will benefit from all the know-how developed by Eurogentec, and will have priority access to the Nippon Gene distribution network. The Japanese market is currently growing at a rate of around 30% a year, a growth which is greater than that seen on the European and American markets.

"Nippon EGT is the concrete expression of our desire to develop our activities outside the domestic European market," explains Jean-Pierre Delwart, Managing Director Eurogentec. "Japan is a rapidly expanding market. Thanks to Nippon Gene, who have been our partners for 10 years now, we already have a very good distribution network there and the next stage is to set up an oligonucleotide production unit in order to be able to guarantee the deadline of 48 hours in Japan as well. We want to be able to apply this to all our clients. This local operation, which will have a Japanese management team who we will train in Belgium and the speed of delivery, will be key factors in the success of the joint venture."

The capital of Nippon Gene Co., ltd, which initially amounts to 95 million yen, is for 51% controlled by Eurogentec; BMI-SBI holds 39%, Nippon Gene Co., ltd. 10%/ The aim of Nippon EGT will be to achieve a turnover of 71.5 million yen in its first year of operation and 220 million yen in 2004.

"BMI-SBI's participation as a minority shareholder in the joint venture between Eurogentec and Nippon Gene in Japan fits perfectly into our investment strategy, which aims to sustain the international expansion of Belgian companies," explains Robert Frans, Chief Investment Officer BMI-SBI. "In addition to the financial aspect, our presence contributes to the image of the joint venture, thanks to our links with the public authorities, an aspect which is extremely sensitive in Asiatic countries. Eurogentec is a good example of a highly specialised company, able to extend its activities through investment overseas. The company has already developed good contacts on the Japanese market, and will be able to continue with its growth via Nippon EGT."

About Eurogentec

Eurogentec develops, produces and distributes high added value research tools in the fields of Genomics and Proteomics and supplies R&D services to the biopharmaceutical sector. At the end of the 2000/2001 financial year, the group saw a doubling of its operating result, which reached EUR 1.6 million. Turnover grew by 17.4% to reach EUR 20.8 million. Eurogentec's activities are distributed over four Business Units: "Genomics" (manufacture of oligonucleotides), "Proteomics" (manufacture of peptides and antibodies), "Biologics" (R&D services for the biopharmaceutical industry) and "Genomic and Proteomic Systems" (marketing of equipment).

Founded in 1985 as a spin-off from the university of Liege, Eurogentec is located in the Scientific Park in Sart Tilman (Liege); it has a second infrastructure on the Hauts Sarts Industrial Park and a production site in Southampton. The company also has commercial subsidiaries in France, Germany and the Netherlands, as well as a branch in Switzerland. It employs around 204 people including 24 doctors of Science.

About BMI-SBI ("Belgian Corporation for International Investment")

BMI-SBI is an investment company whose purpose is to contribute to the long-term financing of international investments made by Belgian companies. The main shareholders in BMI-SBI are the Belgian State and private partners such as Fortis Banque, the BBL and Tractebel. BMI-SBI is currently involved in 36 projects in 24 different countries. Around 20% of its projects are located in Asia.

About Nippon Gene Co., Ltd

Founded in 1982 by Dr. Yoneda on his return from the United States (University of Rochester), Nippon Gene Co., Ltd is a company based in Toyama, Japan, specialising in the research into and the production of enzymes, as well as research into diagnostic tools. Nippon Gene has a very wide distribution network in Japan, and has been marketing Eurogentec products for ten years. Eurogentec markets Nippon Gene products in Europe.

For further information:

EUROGENTEC s.a.

Jean-Pierre Delwart, Managing Director
Till Cussmann, Communication Officer
Parc Scientifique du Sart Tilman
4102 Seraing, Belgium
Tel: 32 (0)4 372 74 00- Fax: 32 (0)4 365 16 04
E-mail: info@eurogentec.com
Website: http://www.eurogentec.com

BMI-SBI (Belgian Corporation for International Investment)

Robert Frans, Chief Investment Officer
Philippe Hermans, Investment Officer
Avenue de Tervuren 168/9
1150 Brussels, Belgium
Tel: 32 (0)2 776 03 06 Ð Fax: 32 (0)2 770 66 38
E-mail: philippe.hermans@bmi-sbi.be; robert.frans@bmi-sbi.be
Website: http://www.bmi-sbi.be