Equity Offering Update

Aortech International PLC 7 March 2001 Not for release, publication or distribution in, or into, the United States, Australia, Canada or Japan or to US persons. AORTECH INTERNATIONAL PLC Equity Offering Update Further to the announcement made by AorTech International plc ('AorTech' or the 'Company'), on 12 February 2001 of its intention to raise equity capital through an Open Offer and an International Offering, the Board today announces that, in light of current market conditions, the Company will not proceed with an equity offering at this time. The Board also announces that it will not proceed with its proposed move to the Official List at this time. The Company is in a position to finance its current business plan. In addition, the Company will be exploring alternative sources of financing to secure its long-term growth plans, and will keep equity market conditions under review. The EGM convened for 10am on Wednesday, 7 February 2001 will take place, although resolutions relating to the Open Offer and the International Offering will not be proposed. However, resolutions concerning a share option scheme for US employees, amendments to certain provisions of the Company's approved and unapproved share option plans and to the Articles of Association will be put to the meeting. Eddie McDaid, Chief Executive Officer, commented: 'Given the positive response from existing shareholders and the interest shown from institutional investors in the UK, Continental Europe and the US, we are clearly disappointed with current market conditions. The Directors and I have decided that given the tremendous potential of AorTech's technologies, it is not in the interests of existing shareholders to issue equity at these levels. The Company will remain focused on achieving its sales targets for truCCOMS and commercialising its new synthetic Tri-leaflet heart valve and its Elast-Eon biomaterials.' 7 March 2001 ENQUIRIES: AorTech International plc Tel: 00 44 (0)1698 746699 Edward McDaid, Chief Executive Officer Morgan Stanley & Co. International Limited Tel: 00 44 (0)20 7425 5000 Alex Northcott College Hill Tel: 00 44 (0)20 7457 2020 Michael Padley / Nicholas Nelson