Formation of New Subsidiary

Billam PLC
29 September 2000


The directors of Billam Plc have formed a new subsidiary called Global Life

Sciences Limited.  They stated that this is in order to take advantage of

significant quality deal flow that they are currently receiving from companies

trading in the biotechnology and life science sectors.



It is proposed that Global Life Sciences will be listed on the Alternative

Investment Market (AIM) during November 2000.  The Board of Billam Plc are

mindful that private investors in particular do not always have the chance to

participate in New Issues and will ensure that all shareholders in Billam Plc

have an opportunity to participate in this subscription offer.



Details of the proposed offer for subscription available to Billam Plc

shareholders, for new shares in Global Life Sciences will be made available to

qualifying shareholders as at 18 October 2000 by 26 October 2000.


28 September 2000