Abcam markets research-grade antibodies to academic and commercial users
and is headquartered in Cambridge, UK, with a US office in Cambridge,
Massachusetts. Its online catalogue of more than 17,000 products is
supported by continually updated technical data created by the Company.

* Abcam was founded in 1998 by Dr Jonathan Milner (Chief Executive Officer),
Dr David Cleevely (Chairman) and Prof Tony Kouzarides (Non-executive
Director).

* Abcam is rapidly growing, profitable and cash generative. In the year
ending 30 June 2005, Abcam reported sales of #12.1 million (2004: #6.72m)
and pre-tax profits of #2.98 million (2004: #1.45m). The Company expects
sales in the current financial year, ending 30 June 2006, to be no less
than #18.5 million and it intends to implement a progressive dividend
policy.

* As announced on 28 October 2005, #10 million, before expenses, has been
raised for Abcam via a placing of new shares at the price of 167 pence per
share (the "Placing Price"). A further #5.25 million, before expenses, has
been raised for selling shareholders via a placing of existing shares at
the Placing Price.

* At the Placing Price, the market capitalisation of Abcam is approximately
#57.5 million (post new money). Its now circa 70 million.

* The net proceeds of the placing available to Abcam will be used to develop
future growth opportunities including the expansion of the online
catalogue, the broadening of the customer base, the penetration of new
geographic markets and the possible acquisition of existing catalogues or
complementary product lines.

* Numis Securities Limited is the Company's nominated adviser and broker.

Damn! Pointless going back in, will await outcome of AGM on 22nd.

Good decision not to go back in short yesterday,bounced as expected albeit a day late. AGM Monday.

I like this whole antibiotics business thing, fundamentally solid, update was good, bought it for 12.11