Cambridge Antibody Technology announces management promotions

Monday 21 July 2003. Cambridge Antibody Technology (LSE: CAT; NASDAQ: CATG) is delighted to announce two promotions to the key management position of Vice President (VP).

Dr Richard Mason has been promoted to the post of VP Business Development and will lead CAT's business development activities going forward; he will also take up a position on CAT’s Executive Group. Dr Mason will succeed Jason Avery, SVP Business Alliances, who has resigned from the Company in order to pursue other opportunities. Prior to his promotion, Dr Mason held the post of Director of Business Alliances, having joined CAT in 2001. Previously, Dr Mason gained an MBA from the University of Cambridge, after which he co-founded the health strategy consultancy, Cambridge Health Informatics. Dr Mason graduated in Medicine from the Medical College of St. Bartholomew's Hospital and subsequently worked for the NHS in internal medicine for five years.

Dr Jane Osbourn has been promoted to the post of VP Display Technology, responsible for key elements of CAT's drug discovery process. Prior to her promotion, Dr Osbourn held the post of Director of Display Technology, having joined CAT in 1993 as a Senior Scientist. Before joining CAT, Dr Osbourn was a British Heart Foundation Postdoctoral researcher at the Departments of Biochemistry and Medicine in Cambridge [where she played a significant role in identifying genes up-regulated in atheromatous plaque formation]. Dr Osbourn has a PhD in plant molecular virology from the John Innes Institute in Norwich, and a first class degree in Biochemistry from the University of Cambridge.

-ENDS-

Notes to Editors
Cambridge Antibody Technology (CAT):

CAT is a UK-based biotechnology company using its proprietary technologies and capabilities in human monoclonal antibodies for drug discovery and drug development. Based near Cambridge, England, CAT currently employs around 270 people.

CAT is a leader in the discovery and development of human therapeutic antibodies and has an advanced proprietary platform technology for rapidly isolating human monoclonal antibodies using phage display systems. CAT has extensive phage antibody libraries, currently incorporating more than 100 billion distinct antibodies. These libraries form the basis for the Company’s strategy to develop a portfolio of antibody-based drugs.

HumiraTM, the leading CAT-derived antibody, isolated and optimised in collaboration with Abbott, has been approved by the US Food and Drug Administration for marketing in the US as a treatment for rheumatoid arthritis. Approval in Europe is expected by Abbott in mid-2003.

Seven further CAT-derived human therapeutic antibodies are at various stages of clinical trials. There are four candidate therapeutic antibodies in pre-clinical development.

CAT has alliances with a number of pharmaceutical and biotechnology companies to discover, develop and commercialise human monoclonal antibody-based products. CAT has co-development programmes wirh Amgen, Amrad, Elan and Genzyme.

CAT has also licensed its proprietary human phage antibody libraries to several companies for target validation and drug discovery. CAT’s licenssees include: Abbott, Amgen, Chugai, Human Genome Sciences, Merck & Co, Pfizer and Wyeth Research.

CAT is listed on the London Stock Exchange and on NASDAQ since June 2001. CAT raised £41m in its IPO in March 1997 and £93m in a secondary offering in March 2000.

Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995: This press release contains statements about Cambridge Antibody Technology Group plc ("CAT") that are forward looking statements. All statements other than statements of historical facts included in this press release may be forward looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward looking statements are based on numerous assumptions regarding CAT’s present and future business strategies and the environment in which CAT will operate in the future. Certain factors that could cause CAT’s actual results, performance or achievements to differ materially from those in the forward looking statements include: market conditions, CAT’s ability to enter into and maintain collaborative arrangements, success of product candidates in clinical trials, regulatory developments and competition.

For further information contact:
Cambridge Antibody Technology
Tel: +44 (0) 1223 471 471
Peter Chambré, Chief Executive Officer
John Aston, Chief Financial Officer
Rowena Gardner, Director of Corporate Communications

Weber Shandwick Square Mile (Europe)
Tel: +44 (0) 20 7067 0700
Rachel Lankester
Kevin Smith

BMC Communications/The Trout Group (USA)
Tel: 001 212 477 9007
Brad Miles, ext 17 (media)
Brandon Lewis, ext.15 (investors)