CAT Announces new CEO

Cambridge Antibody Tech Group PLC
25 February 2002



02/CAT/ 09

FOR IMMEDIATE RELEASE

07.00 GMT 02.00 EST Monday 25 February 2002
For Further Information Contact:              Weber Shandwick Square Mile (Europe)

Cambridge Antibody Technology                 Tel: [phone]

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                    CAMBRIDGE ANTIBODY TECHNOLOGY ANNOUNCES

                          NEW CHIEF EXECUTIVE OFFICER

Melbourn, UK... Cambridge Antibody Technology (LSE: CAT; NASDAQ: CATG) is
pleased to announce the appointment of Peter Chambre as the Company's new Chief
Executive Officer (CEO) with effect from early April. He will join the CAT Board
at that time.

Peter Chambre was Chief Operating Officer at Celera Genomics Group until
November 2001. Previously he held the post of CEO at Bespak PLC, a global
supplier of drug delivery technology and delivery systems in the field of
inhaled therapies. He has also held positions at Bain & Company, Unilever PLC
and others.

Peter Garland, CAT's Chairman, commented "We are delighted that Peter has agreed
to join CAT at this time when the Company is positioning itself for transition
to a profitable biopharmaceutical business. We believe that with his
considerable experience as a CEO and of other senior management roles, both in
the UK and the US, Peter has the right mix of skills and experience to lead CAT
through the next phase of its development."

"David Chiswell will leave CAT in early April. On behalf of the whole of the
Board of CAT, I would like to place on record our appreciation to him for his
contribution to CAT since its formation and for his unstinting hard work in
making the Company the success it is today. His legacy is one of which he can be
truly proud."

Peter Chambre, CAT's new CEO, commented "I am excited by the opportunity at CAT
and am very much looking forward to joining the Company. CAT is already a highly
regarded leader in developing human antibody therapeutics and I believe that it
is in a strong position to make the evolution that is already underway to a
profitable biopharmaceutical company. Together with its talented management and
employees, I believe that we can build a great future for CAT. David is leaving
behind a strong company and I fully recognise the role that he has played in its
success to date."

Dr. David Chiswell, CAT's outgoing CEO, said "I am pleased that we have
identified a successor of obvious calibre in a relatively short period of time.
Peter's record to date is impressive and I am confident he can lead the Company
successfully through the challenges ahead. I wish him every success."

                                     -ENDS-

Notes to Editors:

Peter Chambre - Biography and Details

  • Education: Reading University, BSc (Hons) Food Science
  • Career details: 1976-1978 Cadbury Schweppes PLC, Marketing Research;
    1978-1983 Unilever PLC, Senior Brand Manager; 1983-1988 Bain & Company
    (global strategy consultancy), Vice President; 1988-1992 Cope Allman
    Packaging PLC, Chief Operating Officer; 1992-1993 Novar PLC (previously
    Caradon PLC), Divisional Chief Executive; 1994-2000 Bespak plc, Chief
    Executive Officer (led the development of the company into a leading
    supplier of drug delivery technology and delivery systems to the inhaled
    therapies and biopharmaceutical markets with operations in Europe and US);
    2000-2001 Celera Genomics Group, Chief Operating (key achievements include
    the redefinition of company strategy toward transformation into
    biopharmaceutical company and the acquisition and integration of Axys
    Pharmaceuticals, Inc).
  • Nationality: British
  • Marital Status: Married with five children
  • Age: 46

Cambridge Antibody Technology (CAT)

  • CAT is a UK biotechnology company using its proprietary technologies in
    human monoclonal antibodies for drug discovery and drug development. Based
    near Cambridge, England, CAT currently employs around 270 people.
  • CAT is listed on the London Stock Exchange and has been listed on NASDAQ
    since June 2001. CAT raised £41m in its IPO in March 1997 and £93m in a
    secondary offering in April 2000.
  • CAT has an advanced platform technology for rapidly isolating human
    monoclonal antibodies using phage display systems. CAT has extensive phage
    antibody libraries, currently incorporating more than


    100 billion distinct antibodies. These libraries form the basis for the
    Company's strategy to develop a portfolio of antibody-based drugs and to
    utilise antibodies as tools for target validation. Six human therapeutic
    antibodies developed by CAT are at various stages of clinical trials.

  • CAT has alliances with a large number of biotechnology and pharmaceutical
    companies to discover, develop and commercialise human monoclonal
    antibody-based products. CAT has also licensed its proprietary human
    antibody phage display libraries to several companies for target validation
    and drug discovery. CAT's collaborators include: Abbott, AMRAD, Elan, Eli
    Lilly, Genetics Institute, Genzyme, Human Genome Sciences, Immunex, Incyte,
    Merck & Co., Inc, Oxford GlycoSciences, Pharmacia, Pfizer, Wyeth-Ayerst,
    Xerion and Zyomyx.



Application of the Safe Harbor of the Private Securities Litigation Reform Act
of 1995: This press release contains statements about Cambridge Antibody
Technology Group plc ("CAT") that are forward looking statements. All statements
other than statements of historical facts included in this press release may be
forward looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934.

These forward looking statements are based on numerous assumptions regarding
CAT's present and future business strategies and the environment in which CAT
will operate in the future. Certain factors that could cause CAT's actual
results, performance or achievements to differ materially from those in the
forward looking statements include: market conditions, CAT's ability to enter
into and maintain collaborative arrangements, success of product candidates in
clinical trials, regulatory developments and competition.





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