PTIL Protherics (MM)

Protherics PLC

Rule 2.10 announcement/Conversion of all outstanding Convertible Loan
Notes

Not for release, publication or distribution (in whole or in part) in,
into or from any jurisdiction where to do so would constitute a
violation of the relevant laws of such jurisdiction.

London, UK; Brentwood, TN, US: 24 October 2008 - Protherics PLC
("Protherics" or the "Company"), the international biopharmaceutical
company focused on critical care and cancer, confirms, in accordance
with Rule 2.10 of the City Code on Takeovers and Mergers (the"Code"), that
as at the close of business on 23 October 2008, the
Company has 350,427,481 ordinary shares of 2 pence each in issue and
admitted to trading on the London Stock Exchange under the UK ISIN
Code GB0007029209.

Between 18 September and 23 October 2008 the Company has issued
8,128,048 ordinary shares following the conversion of all outstanding
six per cent. unsecured convertible loan notes 2010 of Protherics, as
further described in the announcement made jointly by Protherics and
BTG plc on 18 September 2008.  References in that announcement and the
Scheme Document sent to Protherics Shareholders on 17 October 2008
to"Protherics Fully Diluted Share Capital" and the number of BTG shares
expected to be issued in connection with the Scheme in each
case assumed the issue of this number of shares.


/ Ends /


For further information please contact:


Protherics

Nick Staples, Director of Corporate Affairs        +44 (0) 7919 480510

Julie Vickers, Company Secretary                   +44 (0) 1928 518010


Jefferies International Limited (Financial         +44 (0) 20 7029 8000
Adviser)

Ian Crosbie, Director


Nomura Code Securities Limited (Corporate Broker)  +44 (0) 20 7776 1203

Phil Walker, Director


Financial Dynamics - press enquiries

London: Ben Atwell, Lara Mott                      +44 (0) 20 7831 3113

New York: John Capodanno                           +1 212 850 5600


Or visit  www.protherics.com


Dealing Disclosure Requirements


Under the provisions of Rule 8.3 of the Code, if any person is, or
becomes, "interested" (directly or indirectly) in 1% or more of any
class of "relevant securities" of BTG plc or of Protherics, all"dealings"
in any "relevant securities" of that company (including by
means of an option in respect of, or a derivative referenced to, any
such "relevant securities") must be publicly disclosed by no later than
3.30 p.m. (London time) on the London business day following the date
of the relevant transaction. This requirement will continue until the
date on which the offer becomes, or is declared, unconditional as to
acceptances, lapses or is otherwise withdrawn or on which the "offer
period" otherwise ends. If two or more persons act together pursuant to
an agreement or understanding, whether formal or informal, to acquire
an "interest" in "relevant securities" of BTG plc or Protherics they
will be deemed to a single person for the purpose of Rule 8.3.

Under the provisions of Rule 8.1 of the Code, all "dealings" in"relevant
securities" of BTG plc or of Protherics by BTG
plc or Protherics, or by any of their respective "associates", must be
disclosed by no later than 12.00 noon (London time) on
the London business day following the date of the relevant
transaction.

A disclosure table, giving details of the companies in whose "relevant
securities""dealings" should be disclosed, and the number of such
securities in issue, can be found on the Takeover Panel's website at
www.takeoverpanel.org.uk."Interests in securities" arise, in summary, when
a person has long
economic exposure, whether conditional or absolute, to changes in the
price of securities. In particular, a person will be treated as having
an "interest" by virtue of the ownership or control of securities, or
by virtue of any option in respect of, or derivative referenced to,
securities.

Terms in quotation marks are defined in the Code, which can also be
found on the Panel's website. If you are in any doubt as to whether or
not you are required to disclose a "dealing" under Rule 8, you should
consult the Panel.


                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contacts: RNS Customer Services 0044-207797-4400 Email Contact http://www.rns.com

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