First Day of Dealings

Angle PLC 17 March 2004 For Immediate Release: 17 March 2004 ANGLE plc First Day of Dealings on the Alternative Investment Market ('AIM') ANGLE plc ('ANGLE' or the 'Group', AIM: AGL), the venture management and consulting company specialising in the commercialisation of technology, is pleased to announce its flotation on the Alternative Investment Market of the London Stock Exchange ('AIM') today. • ANGLE Technology was established in April 1994 by former executives from KPMG's High Technology Consulting Group. • ANGLE has built a management team experienced in the commercialisation of technology. The Directors believe that ANGLE will play a role in bridging the gap between research and technology and business and finance. • £9 million (before expenses) was raised for ANGLE via a Placing of 6.25 million Ordinary Shares at the Placing price of 144p per Ordinary Share (the 'Placing Price') by KBC Peel Hunt Ltd. • On Admission, the market capitalisation at the Placing Price will be £24.0 million. • ANGLE will use the net proceeds of the Placing for working capital principally to enable it to further finance and develop its business strategy, including: - building the Ventures business leading to the establishment and development of new Progeny(R) Companies; - accelerating the growth of the Consulting and Management businesses through the provision of resources for expansion of the professional team; Andrew Newland, Chief Executive of ANGLE plc, commented: 'I am delighted with the response to ANGLE's flotation. With the funds raised from the Placing and a heightened profile on AIM, we look forward to pursuing our objectives of expanding our Consulting and Management businesses as well as founding and growing more IP backed technology companies.' INFORMATION ON THE GROUP Consulting and Management businesses ANGLE has built Consulting and Management businesses in the UK and US, which provide revenues as well as relationships with corporates, government research establishments and universities. In December 2003, ANGLE secured a substantial management contract in the Middle East. Management combining technological understanding and business experience The Directors believe that the successful development of new technology companies requires technology, finance and management and that management deficiency is one of the barriers to successfully realising the commercial potential of new technological innovations. ANGLE employees combine a technological understanding with business experience allowing ANGLE to play a role in bridging the gap between research and technology and business and finance. Working relationships with research establishments providing preferential access to new technology Through its Consulting and Management businesses, ANGLE has established working relationships with a number of research establishments which have proprietary technology for commercialisation. Working relationships have now been established with over eighty clients developing proprietary technology including over thirty five corporates (such as BT), over ten public sector research organisations (such as Dstl) and over thirty universities (such as the Universities of Virginia and Pennsylvania, US). Progeny(R), a systematic process for establishing new technology companies ANGLE has developed Progeny(R), a systematic process for establishing new technology companies. The application of Progeny(R) to the UK biotechnology sector has been recognised and financially supported by the DTI. ANGLE achieved this recognition after they were one of only two winners in 1998 of the prestigious BMI Challenge competition organised by the UK Government. Substantial equity positions in five technology companies ANGLE has established and retains substantial equity positions in five technology companies: Acolyte Biomedica Limited, Exago Limited, IDR Therapeutics LLC, NeuroTargets Limited and Provexis Limited. Other technology opportunities The Directors believe that the potential exists for establishing more Progeny(R) Companies in the future in such areas as IT, electronics, biotechnology and other technology sub-sectors. Scaleable diversified business building a portfolio of technology companies ANGLE's business is scaleable, diversified into international markets, and is based on revenue generating Consulting and Management businesses and a portfolio of companies in a number of technology sectors ranging from IT to biotechnology. PLACING STATISTICS Placing Price 144 pence Number of new Ordinary Shares being issued under the Placing 6,250,000 Market capitalisation following the Placing at the Placing Price £24,042,937 Number of Ordinary Shares in issue on Admission 16,696,484 Percentage of enlarged issued share capital being subject to the Placing 37.43% Gross proceeds of the Placing £9.0 million Net proceeds to be received by the Company (exclusive of applicable VAT) £8.2 million For further information, please contact: ANGLE plc 01483 295830 Andrew Newland, Chief Executive Dawson Buck, Deputy Chief Executive Ian Griffiths, Finance Director Buchanan Communications 020 7466 5000 Richard Darby Suzanne Brocks KBC Peel Hunt 020 7418 8900 Adam Hart David Anderson This information is provided by RNS The company news service from the London Stock Exchange