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CeNeS Announces Move to AIM

Cambridge, 2 July 2003- CeNeS Pharmaceuticals plc (LSE:CEN) today
announced that the board has resolved to apply for the Company's
shares to be admitted to AIM (Alternative Investment Market of The
London Stock Exchange). CeNeS will cancel its listing on the Official
List.

The Directors believe that given the Company's current market
capitalization AIM is a more appropriate market. The Directors and
its advisors believe that there is a greater likelihood of the
Company attracting longer-term investor support in the AIM markets
and the move will allow transactions to be completed more cost
effectively

Admission to AIM is expected to be completed by the end of July at
which time the listing of the Company's shares on the Official List
will be cancelled.

Neil Clark, Chief Operating Officer of CeNeS said "The CeNeS Board
believe that an AIM listing will give the Company increased access to
interested investors and that AIM is an appropriate environment for
the Directors to effect the next stage of CeNeS corporate
development".

This news release contains forward-looking statements that reflect
the Company's current expectation regarding future events.
Forward-looking statements involve risks and uncertainties. Actual
events could differ materially from those projected herein and depend
on a number of factors including the success of the Company's
research strategy, the applicability of the discoveries made therein,
the successful and timely completion of clinical studies and the
uncertainties related to the regulatory process.


For more information please contact:

CeNeS Pharmaceuticals plc
Alan Goodman
Neil Clark
Tel: +44 (0)1223 266466
Fax: +44 (0)1223 266467

Euro RSCG Life NRP
Dr Douglas Pretsell
Tel: +44 (0)20 7726 4452
Fax: +44 (0)20 7726 4453


Notes to Editors:

About CeNeS
CeNeS is a biopharmaceutical company specialising in the development
and commercialisation of drugs for pain control. The company has
development assets targeting pain and has a portfolio of carried
interests in assets that it has divested. The company is based in
Cambridge, England. For further information visit www.cenes.co.uk.

About AIM
AIM is the London Stock Exchange's global market for smaller, growing
companies. Good companies from different sectors and different
countries are welcome on AIM.
Since AIM opened in 1995, more than 850 companies have been admitted.
Collectively, these companies have raised more than 10 billion US
dollars whilst on AIM.

There are no specific suitability criteria for companies to qualify
for AIM. However, under the AIM rules, all companies must produce an
admission document making certain disclosures about such matters as
their directors' backgrounds, their promoters, business activities
and financial positions.

Importantly, all AIM companies are required to have a nominated
adviser (popularly known as a "nomad") from the register of such
advisers published by the Exchange. This nominated adviser is
responsible, amongst other duties, for warranting to the Exchange
that a particular company is appropriate for AIM. This is an
important quality control for AIM and a very serious responsibility
upon the nominated adviser.

Once admitted to AIM, a company has certain ongoing disclosure
requirements and needs to retain a nominated adviser at all times.
Ordinarily, once a company has been on AIM for 2 years it will have
the opportunity to seek admittance to the main market by using a
special expedited procedure.

AIM is operated, regulated and promoted by the London Stock Exchange.



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