Closure of Sirco juice brand

Provexis PLC 02 July 2007 For release at 07.00 Monday July 2nd 2007 PROVEXIS plc ('Provexis' or the 'Company') CLOSURE OF SIRCO JUICE BRAND Provexis plc (PXS.L), the nutraceutical company that develops scientifically-proven functional and medical foods, announces that, further to the preliminary results announcement on 30 May 2007, the Company has undertaken a strategic review of its Sirco(R) juice brand. In order to facilitate the negotiation of exclusive rights for potential license partners, the Company is going to cease production and supply of Sirco(R) with immediate effect. Sirco(R) is currently distributed in approximately 1,900 major multiple grocers and high street retailers. There are no financial write-offs related to the closure. Provexis is in the process of repositioning itself as a pure discovery, development and licensing business and this closure is a key part of the implementation phase. The Sirco(R) brand has met its aims in raising awareness of the Company's patented, scientifically-proven Fruitflow(R) heart-health technology with global food and beverage brand owners and has demonstrated consumer demand for the technology, as well as underpinning the implementation of its regulatory and health claims strategy. There are four sectors in which Provexis is seeking major partnerships, namely, food and dairy, juice and juice drinks, products for deep vein thrombosis, and dietary supplements and medical products. On 30 March 2007, the Company announced a collaboration with Unilever for certain formats within the food and dairy sector. Provexis is currently in discussions with two major global beverage brand owners regarding potential license arrangements for Fruitflow(R) in juice and juice drinks and these companies require extensive, exclusive geographical rights, which the closure of Sirco(R) will facilitate. The Company hopes that these discussions will reach a satisfactory conclusion in due course. Stephen Moon, Chief Executive Officer of Provexis plc, commented: 'After examining other possible exit options, it was felt that the long-term potential of licensing to a major brand owner would deliver higher shareholder value. We have carefully planned this step and there are no write-offs associated with it. This completes our programme of structural change and I am pleased to say we have significantly reduced our monthly cash burn.' -ends- For further information please contact: Stephen Moon, Chief Executive Provexis plc Tel: 020 8392 6631 Tom Griffiths/Alasdair Younie Tel: 020 7012 2000 Arbuthnot Securities Chris Steele Adventis Financial PR Tel: 020 7034 4759 This information is provided by RNS The company news service from the London Stock Exchange