Provalis PLC
17 June 2004

For Immediate Release 17th June 2004

Provalis Files G5 Diabetes Test with FDA and builds USA Sales Team

Provalis plc (LSE: PRO; NASDAQ: PVLS), the Medical Diagnostics and
Pharmaceuticals Group, is pleased to announce that, on schedule, it has filed
the USA regulatory submission with the FDA for its G5 diabetes glycated
haemoglobin test.

Regulatory clearances are being sought in the USA for 510K and prescription home
use marketing approvals, which additionally confers CLIA waiver. These allow
the Company to fully exploit the sales potential of G5 into all physicians'
offices and also to be available eventually to diabetics for use at home.

In further preparation for the launch of the product in the USA, Provalis has
now appointed its three vice-presidents of sales to cover the central, west
coast and east coast regions. They, together with Bert Valada the General
Manager of Provalis Diagnostics (USA), have collectively over 100 years of
diagnostics sales experience in the USA and are now building the network of
national sub-distributors ready for product launch in the autumn (fall) of this
year.

Phil Gould, Chief Executive Officer of Provalis said 'We are delighted with the
high quality of the clinical data we have generated with G5 and that we have now
filed on schedule the USA regulatory submission with the FDA. With an
experienced sales team now recruited in the USA, we look forward to a successful
product launch in the autumn of this year'.

END

Provalis' Internet Website ;
http://www.provalis.com


Comment - Provalis has a market cap of 17m. At one time, when called Cortecs, the company was a medium sized pharma. During the tech bubble it lost its way and eventually had to re-invent itself. It re-directed its efforts to the diagnostic side of the market, finally producing Glycosal, a physician's office blood-testing equipment for diabetics. Another rights' issue later and it has finally filed for G5 approval (allowing for a similar test for home use). It has decided to create its own market distribution network - very risky. It is against some much larger competitors such as Axis-Shield (Afinion) which are closer to marketing their own versions of G5 - even offering multi-platform testing - but in less than 90 days Pro will also be selling its G5 product. Diabetes is a huge market, as we all know from reading about obesity etc. Pro only has to catch a small slice of this market to increase its market cap many times over. A very risky punt but it could be rewarding if you get in at the bottom. 7.125p mid-price at the time of writing.

Apologies for that slip-up. Obviously my memory has started to work phonetically.

700202 re your post 45 of 10 Aug. Are you refilling your boots today?

I thought I might drop in at this point for a dabble. Could be an interesting couple of months.

Nam

Hi
Can anybody tell this novice trader come investor whether this share is oversold ? Certainly a good time for a dabble with the huge variance in SP going on recently. I bought and sold yesterday and made 216 within 4 hours on only 2000 just by bottom feeding in the morning and out for lunch !
Anyone know why the MM`s are playing silly buggers with this at the moment. I know it didn`t have great results but surely that has already been factored out in the recent SP slide.
Anyone out there who can enlighten me, I`d be mighty obliged. Thanks. Obe

Provalis have delisted from Nasdaq and cancelled their USA ADR programme. MAx 5.5 millshares to come back to uk if they all take cash. In last 4 days buys have been ahead of sells by 3.5 million in total and yet we have not moved up. We will do soon IMO when the sales of the USA shares stops . imo

Anything under 5p for provalis is a steal imo.

I said it would be an interesting time. Jumping on in a smallish way to see how interesting. Sub 1.83p to buy. Any thoughts out there?

Nam

IT COULD GO LOWER LOWER LOWER////IT MAY GO BUST///

It seems there is some bottom-fishing going on at present. Unlikely to be any news before the December update - unless there is an offer for the pharma division.

This isn't the bottom, pach - that was last Friday when one should have jumped on board. In profit, esp. since 3pm today. More to come?

Nam

Oh yes.

Nam

Best of luck Nam - at least someone seems to be making a profit out of holding Provalis shares !

Thanks Pach

Got in at 1.2p, now out. Profit taken. Trebles all round.

Nice when this happens, although opportunity doesn't present itself that often.

Happy hunting.

Nam

sinking fast - what a rip -

Everything is down, but I must admit that I thought that all bad news had been factored into the price (whatever negative issues hit the general market).

is this a turning point??

Has anyone spotted anything in the press regarding the sudden sp rise? Perhaps they have resolved the short shelf-life problem?

I notice on the website that Evolution have made some statement about Pro (presumably) but without any recommendation. Anyone know any different?

2006 ESTIMATES
Broker Date Pretax Eps Dps
m p p
Nomura 15-Jun-05 SELL r (5.20) r (1.00) r - r
Numis Securities Ltd 22-Nov-05 RED + (2.00)
Evolution Securities Ltd 12-Jan-06 +


By the way, 10 MA line is about to cross 50MA line - which has (up till now) always proven very positive for my shares.

Yahoo Finance on Thursday (courtesy of Kim on adv)
London (ShareCast) - Diagnostic group Provalis shot to the top of the Techmark on news of a widening of its strategic review to include all possibilities.

"The board has widened its review to consider all strategic and funding options available to the group and how best to maximise value for shareholders," chairman Frank Harding said.

'In advance of the outcome of this strategic review, the board is in the process of significantly reducing the group's cash expenditure in the short and medium term. It has already cut the US and central cost bases substantially," the statement added.

Finally, some news about future financing of In2it.

Provalis chairman, FD to step down; sells assets of health unit for 10.5 mln stg
AFX


LONDON (AFX) - Provalis PLC said its chairman, Frank Harding, and finance director, Peter Bream, are to step down and will replaced by non-executive director Alan Aikman and director of finance Mark Keen respectively.

The company also said it has agreed to sell assets of its Provalis Healthcare Ltd unit to Kogen Ltd, an affiliate of Northern Ireland's Galen Ltd, for 10.5 mln stg.

The company said the assets include contracts, goodwill and intellectual property rights relating to Provalis Healthcare's products, and the stocks of Provalis Healthcare.

Interim CEO Peter Woodford said the disposal allowed the company to concentrate on its Medical Diagnostics division and 'provides us with a financial platform from which the group can address the technical issues associated with in2it'.

newsdesk@afxnews.com
har
COPYRIGHT

TechMark movers: Provalis rides high on sale
Wed 01 Feb 2006

LONDON (SHARECAST) - Shares in medical diagnostics group Provalis moved ahead, topping the techMark stocks after it sold its pharmaceutical division to Provalis Healthcare for around 10.5m.

The group will receive 9.5m plus around 1m for the stock of the products, payable in cash on completion, before transaction costs of about 0.5m.

Provalis said net cash proceeds of some 10m would be used primarily to repay the entire borrowings of Provalis, which are currently around 5.2m.

Telecoms carrier Thus was the major faller in the index after agreeing to buy United Utilities' telecoms arm, Your Communications, in an all-share deal.

United Utilities will receive 391m new shares in Thus, worth 58.8m. It means the utilities firm will hold approximately 22.5% in Thus once the deal is finalised.

Thus also announced that it reached agreement on the terms of a recommended cash offer for Legend Communications at 40p per share in cash valuing the business at about 11.5m.

FTSE TechMARK - Risers

Provalis (PRO) 2.38p +13.10%
Gresham Computing (GHT) 107.00p +10.88%
Aveva Group (AVV) 1,115.50p +7.36%
Filtronic (FTC) 164.00p +4.46%
Elan (ELA) 12.93 +4.27%
Medisys (MDY) 2.05p +3.80%
Dicom Group (DCM) 231.00p +3.36%
SurfControl (SRF) 585.00p +3.04%
Royalblue (RYB) 812.00p +2.98%
Axon (AXO) 317.00p +2.18%

FTSE TechMARK - Fallers

Thus Group (THUS) 14.25p -5.00%
XTL Biopharmaceuticals (XTL) 37.25p -3.87%
TTP Communications (TTC) 23.50p -3.09%
Phoenix IT Group (PNX) 325.00p -2.99%
Axis-Shield (ASD) 277.00p -2.72%
Microgen (MCGN) 74.50p -2.61%
Indigo Vision (IND) 375.00p -2.60%
GB Group (GBG) 33.00p -2.22%
Ferraris Group (FER) 90.00p -2.17%
Kingston Communications (KCOM) 67.50p -2.17%