In connection with the Offer, being made by KPMG Corporate Finance on behalf of St. James’s MGP Limited (“St. James’s”), the board of St James’s announces that the Offer Document and related Form of Acceptance are being posted today to ReNeuron Shareholders and, for information only, to participants in the ReNeuron Share Option Schemes.

As set out in the Offer Document, acceptances of the Offer should be received by no later than 3.00p.m. on the 30 April 2003.

Notice of an EGM of ReNeuron to be held on 29 April 2003 is set out in the Offer Document.

Terms defined in the announcement dated 1 April 2003 relating to the Offer have the same meaning in this announcement.

Further information

St. James’s
Mark Clement, Chairman
Samantha Axtell
+44 20 7849 7762

KPMG Corporate Finance
Michael Higgins
Richard Barlow
+44 20 7311 1000

Financial Dynamics
David Yates
Ben Atwell
+44 20 7831 3113

Dr Martin Edwards, Chief Executive Officer
+44 1483 302560

The availability of the Offer to persons who are not resident in the UK may be affected by the laws of the relevant jurisdiction. Persons who are not resident in the UK should inform themselves about and observe any applicable requirements.

The Offer is not being made, directly or indirectly, in, into or from, or by the use of mails or any means or instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facility of a national securities exchange of United States, Canada, Australia or Japan and the Offer will not be capable of acceptance by any such use, means, instrumentality or facilities from within the United States, Canada, Australia or Japan. Accordingly, copies of this announcement are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, transmitted, distributed or sent in, into or from the United States, Canada, Australia, Japan and persons receiving this announcement (including custodians, nominees and trustees) must not mail or otherwise forward, transmit, distribute or send it in, into or from the United States, Canada, Australia or Japan.

This announcement does not constitute an offer or an invitation to purchase or subscribe for any securities.

The contents of this announcement have been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000 by KPMG Corporate Finance. The address of KPMG Corporate Finance is 8 Salisbury Square, London, EC4Y 8BB.