Disposal

Aortech International PLC 13 January 2003 AORTECH INTERNATIONAL PLC Sale of Heart Valve Business AorTech International plc ('the Company') announced on 6 January 2003 a change in strategic direction. The Board has concluded that it will concentrate future activity on the Company's biomaterials business and on its development programme for the polymer heart valve. As a result, the Company announces today the sale of its commercial heart valve business to the Koehler Chemie GmbH group of Alsbach, Germany, a privately owned pharmaceutical group founded in 1959. The brands involved comprise Ultracor Mechanical Prosthesis, Aspire Stentless Prosthesis, Elan Aortic Stentless Prosthesis, Elan Root Stentless Prosthesis and Mitral Repair System. Koehler Chemie is paying £2.7 million in cash for the business and will take over management responsibility with effect from 13 January 2003. The sale concludes an extensive search for an industry partner to manage and develop this business, maintaining continuity of supply to customers. During the six month period ended 30 September 2002 the business, which was loss making, had a turnover of £0.9 million. The assets being sold have a book value of £4.8 million comprising the inventory, fixed assets and purchased goodwill of the commercial heart valve business. Proceeds from the disposal will be used as working capital for the remaining parts of the Company's business. Following the disposal, the Company's annual rate of cash burn will be significantly reduced. 13th January 2003 ENQUIRIES: AorTech International plc Tel: 01698 746 699 Bill Strachan, Chief Executive Ian Cameron, Finance Director College Hill Tel: 020 7457 2020 Nicholas Nelson Clare Warren This information is provided by RNS The company news service from the London Stock Exchange