Bioprogress is a stock I have been in and out of quite a few times since it floated in May but not much mention here on the Investors' Room. Does anyone else follow this stock. I see it is up 1.5p today and a few good buyers seem to have appeared.

Why has it gone down today?

Because the shares were overvalued and kept aloft on a high octain mixture of hype and hope. I like BPRG and will look to buy in at around 70p. This is not a deramp, but just my own valuation of the coy as it currently stands.
I have held both BPRG and SEO and would like to see them settle their differences in a way that gives value to both companies. The current fight to the death will do neither of them any good. Only the leagl eagles will make any money out of this. I think that SEO are on a pasting to nothing, but in the long term they will come good. Their own technology is a potential market leader.

Share heavily oversold and has met lower Bollinger Band indicating a buy signal. Should in theory see a bounce tomorrow!

BioProgress PLC
09 November 2004

Press Release 9 November 2004

BioProgress plc

('BioProgress' or 'the Company')

BioProgress reaches agreement to provide new UK film manufacturing capacity and
unveils new 'LOCUM' virtual manufacturing strategy

BioProgress plc (AIM: BPRG; NASDAQ: BPRG), the provider of innovative delivery
mechanisms for the pharmaceutical oral dosage markets, announces that it has
reached agreement with Custom Pharmaceuticals Limited ('Custom') on the terms
under which BioProgress will install a film manufacturing line in Custom's new
pharmaceutical contract manufacturing facility currently being built at
Moulescoombe, near Brighton, in the south of England. A letter of intent has
been exchanged, incorporating the primary commercial terms, and the legal
documents are being prepared for signature.

Custom (
www.custompharm.com
) is a privately owned contract pharmaceutical
manufacturer, established in 1979, which manufactures prescription and
over-the-counter (OTC) medicines, vitamins and herbal supplements. Under these
proposals, BioProgress will occupy a segregated part of the new Moulescoombe
facility and will install one of the film casting lines purchased from Valence
Technology BV, which was announced on 17 August 2004.

The film line and associated film manufacturing equipment will remain the
property of BioProgress. Custom will provide the building space to full
pharmaceutical standard, and will be responsible for maintaining full European
and US FDA regulatory manufacturing approvals for the production of
pharmaceutical grade film and film containing pharmaceutical actives in
BioProgress's SOLULEAVES(TM), WAFERTAB(TM) and FOAMBURST(TM) technologies, as
well as films required for the SWOLLO(TM) TABWRAP(TM) and NROBE(TM)
technologies.

Custom will provide the necessary personnel for film manufacturing, quality
control and quality assurance, as well as the qualified staff to sign off
batches of pharmaceutical film products on a cost plus basis. Custom will
provide raw material and finished goods storage, and access to extensive
state-of-the-art technical and analytical laboratories. BioProgress will have
dedicated office space and meeting facilities for the use of BioProgress staff
and customers on site.

Nigel Richardson, Chairman of Custom Pharmaceuticals said 'Contract
manufacturing of medicines is becoming a fiercely competitive global business
requiring us to invest in state of the art facilities like Moulescoombe in order
to stay competitive as new low cost pharmaceutical manufacturing capacity is
coming on line from China and India.

This agreement with BioProgress enables us to participate in an exciting new
business opportunity which utilises our high quality pharmaceutical
infrastructure as well as our core skills and expertise to enhance our revenues
and profits. It gives BioProgress a much lower cost and faster track entry into
pharmaceutical manufacturing of its films, so it is an agreement where everyone
wins..

As we will be manufacturing BioProgress films on site we are also keen to have
early access to the new BioProgress dosage forms like SWOLLO(TM), TABWRAP(TM)
and WAFERTAB(TM) which we can see could have a serious impact on the traditional
pharmaceutical manufacturing cost model and could offer Custom a significant
competitive advantage in our contract manufacturing core business.'

BioProgress also announces a new business model and strategy called 'LOCUM'
which stands for Low Cost, Out Sourced, Capital Based, Unrestricted,
Manufacturing. By utilising the already established infrastructure, skills and
expertise of existing approved pharmaceutical contract manufacturers,
BioProgress will be able to bring on line film manufacturing capacity in various
parts of the world much faster and at a fraction of the cost of building and
staffing its own facilities. The agreement with Custom is the first
demonstration of this new strategy.

These 'virtual manufacturing' partnerships also enable BioProgress, as a second
stage, to showpiece its new dosage form technologies like SOLULEAVES(TM),
TABWRAP(TM), SWOLLO(TM) and WAFERTAB(TM) in real manufacturing locations, and to
provide initial contract manufacturing capacity for customers wishing to adopt
these technologies, where they fall outside of exclusive licensing agreements.

Graham Hind, Chief Executive of BioProgress said: 'We are very pleased with this
agreement with Custom which will serve as a template in the discussions we are
currently having to reach similar agreements with pharmaceutical contract
manufacturers in other parts of the world. Our film casting line at the new
Custom facility near Brighton is expected to be operational by May 2005 and will
have three times the capacity of our existing Tampa facility in the US.

One of the challenges we have faced is to be able to provide high quality film
production capacity to support companies like Wyeth (NYSE: WYE), Perrigo
(NASDAQ: PRGO), FMC (NYSE: FMC) and Colgate Palmolive (NYSE: CL) who for
security demand multiple sources of supply from suppliers with the capability to
follow and support them as they globalise products. Our LOCUM strategy will
enable us to properly service the future requirements of both existing and new
customers in an extremely cost-effective way, while giving us the added
flexibility of being able to rapidly gear up additional production capacity.'

- Ends -

Forward-Looking Information.

The Ordinary Shares of BioProgress plc are registered under the US Securities
and Exchange Act of 1934. This announcement contains certain 'forward-looking
statements' within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current expectations and
are subject to uncertainty and changes in circumstances. Actual results may
vary materially from the expectations contained in the forward-looking
statements. The forward-looking statements in this release include statements
addressing future financial and operating results and the timing and benefits of
the reorganisation. Detailed information about factors pertinent to the
business of the company that could cause actual results to differ is set forth
in the Company's filings with the Securities and Exchange Commission. The
Company is under no obligation to (and expressly disclaim any such obligation
to) update or alter its forward-looking statements whether as a result of new
information, future events or otherwise. This announcement is for information
only and does not constitute an offer or invitation to acquire or dispose of any
securities or investment advice. The distribution of the announcement and/or
issue of securities in certain jurisdictions may be restricted by law. Persons
into whose possession this announcement comes are required to inform themselves
about and to observe such restrictions.

Cheers emailpat.

morning all

dd-are you a buyer yet?

Emailpat yes.

At 60p they may be worth a look.

Dil-keep up....that was back in july;-)

160 (short term) more like, this company is going places. 360 long term. Keep a look for even more agreements/contracts in the very near future. Excellent prospects at last.

Good news yet down today!!!! Don't understand, glad I switched most of my money into Filtronic short term.

Gotta hold 90p today or it's 80p again pdq, IMO

Will start to look at re-entering in the 70's or below as before.

I'm looking at the low 60's for support and a possible entry point. All well and good announcing contracts but there is a long road between here and profitability on those contracts.

Buys 2,336,857 Sells 2,118,897 Unknowns 3,27601

Strange It strikes me that the MMs are playing this share.


ANother strange one to me is WLF 137,065 to 741,685 Unknowns 104,718 and price up disproportionally. Again MMS ?

emailpat
Good to see a 25/40/25 MACD chart - which says to me that we're on the cusp. Very unlikely IMHO that BigAl or Dil will get their fill in the 70s. Strong feeling that we may be seeing a higher low.

Thereagain, with all the mad brigade on this it's a bit tricky to know whether charts are any kind of a guide.

Still got a few after making some reasonable returns from this one. The ones I've got left are in the red, unfortunately.

mg-someone has to carry on your legacy :-)

At the moment this share is at the mercy of MMs, just thought I would state the obvious there! My reading of this one is that the company fundamentals are sound and that alot if not all of the recent fall can be laid at the door of cc concerning SEO. Once that is finally resolved and sooner the better we can see a recovery in sp.

Not a religious man but I'm praying now!!

Are you referring to the jam tomorrow fundamentals or something else ?