Loan Agreement

24 Jun 2008 07:05

Proteome Sciences plc ("The Company")

Cobham, England (June 24, 2008) - The Directors of Proteome Sciences plc are pleased to announce that following the release of the preliminary announcement of the results for the year to the 31st December, 2007, the Company has entered into a further loan agreement with C.D.J. Pearce, the Chief Executive of the Company, under which the amount of the facility available has been increased to up to ‚£8m. The agreement is on the same terms as the loan agreement dated 21st February, 2008 save that security for the total loan facility includes a floating charge over the company's stock-in-trade.

In relation to the increase in the loan facility from C.D.J. Pearce, the Directors of the Company, (with the exception of C.D.J. Pearce who, in view of his interest in the transaction, has taken no part in the consideration thereof), having consulted with its nominated adviser, consider that the terms of this transaction are fair and reasonable insofar as shareholders are concerned.

The Report and Accounts for 2007 will be posted to shareholders on the 27th June and the Annual General Meeting will be held on Monday 28th July, 2008.

Ends

About Proteome Sciences:

Proteome Sciences plc is a global leader in applied proteomics, using high sensitivity proprietary techniques to detect and characterise differentially expressed proteins in diseases for diagnostic, prognostic and therapeutic applications.

ProteoSHOP‚® provides integrated proteomic services for biomarker discovery, validation and measurement in clinical trials and in vitro diagnostics. Key features include the proprietary isobaric tandem mass tag technology TMT‚® for accurate and reliable biomarker quantification and the ability to rapidly develop highly reproducible quantitative biomarker assays.

The main focus of its research addresses neurological, oncology and cardiovascular conditions and has discovered blood biomarkers in stroke, brain damage, solid organ transplant rejection and Alzheimer's disease. Proteome Sciences is based in Cobham, UK with facilities in London and Frankfurt.

Contact Proteome Sciences plc at www.proteomics.com

Christopher Pearce, Chief Executive Officer

James Malthouse, Finance Director

Tel: +44 (0)1932 865065

Adrian Shaw, IKON Associates

Tel: +44 (0)1483 535102 / +44 (0)797 9900733

Matt Baldwin, COAST Communications

Tel: +44 (0)1233 503200

Landsbanki Securities (UK) Limited

Shaun DobsonClaes SpĴngTel: +44 (0) 207 426 9000