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Xenova Group PLC (XEN)

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Friday 04 August, 2000

Xenova Group PLC

Result of Equity Issue

Xenova Group PLC
4 August 2000


  Not for release, publication or distribution in or into the United States,
              Canada, Australia, the Republic of Ireland or Japan

                                       
                               Xenova Group plc
                                       
                       Announcement of the result of the
                            Placing and Open Offer
                                       Of
                     2,885,108 Units, each Unit comprising
                       5 Ordinary Shares and 4 Warrants
                             at 345 pence per Unit
                                       

Slough, UK, 4 August, 2000 - The Board of Xenova Group plc ('Xenova')
announces that, by 3.00 p.m. on Thursday, August 3, 2000, being the latest
time and date for receipt of Application Forms and payment in full for the
2,885,108 Units offered to Qualifying Shareholders under the Open Offer at 345
pence per Unit, valid acceptances had been received in respect of 1,494,255
Units, representing 52% of the Units available under the Open Offer.

The remaining 1,390,853 Units will be taken up by new institutional and other
investors pursuant to the Placing by Nomura International plc.

Commenting today, David A. Oxlade, Chief Executive Officer of Xenova said:

'The successful outcome of this fund raising will enable Xenova to complete
the ongoing Phase II clinical trials for our lead products XR9576 and XR5000
and, together with a partner, conduct Phase III trials, if appropriate. We
will also, of course, continue to advance our growing preclinical pipeline.'

Application has been made to the UK Listing Authority for the new Ordinary
Shares and Warrants (including the 287,697 Nomura Warrants) to be admitted to
the Official List.  Subject to the passing at an Extraordinary General Meeting
of Xenova, to be held at 10.00 a.m. on 8 August 2000, of a special resolution
enabling the Placing and Open Offer to proceed, it is expected that admission
to the Official List will occur and that separate dealings in the new Ordinary
Shares and the Warrants will commence on the London Stock Exchange on 9 August
2000.

For those Qualifying Shareholders who hold their existing Ordinary Shares in
CREST, the new Ordinary Shares and the Warrants are expected to be credited to
their stock accounts on 9 August 2000.  For those Qualifying Shareholders who
do not hold their existing Ordinary Shares in CREST, definitive certificates
in respect of the new Ordinary Shares and the Warrants are expected to be
despatched by 11 August 2000.

                                       
Enquiries:

Xenova Group plc
David A Oxlade, Chief Executive Officer
Daniel Abrams, Group Finance Director
Hilary Reid Evans, Head of Corporate Communications
Tel:  01753 706600

Nomura International plc
David Porter
Tel:  020 7521 2000

Financial Dynamics
David Yates/Sophie Pender-Cudlip
Tel:  020 7831 3113
                                       
                                       
                         TIMETABLE OF PRINCIPAL EVENTS

Record date for entitlement
under the Open Offer                                              4 July 2000

Latest time and date for splitting
Application Forms                                  3.00 p.m. on 1 August 2000

Latest time and date for receipt of
Application Forms
and payment in full                                3.00 p.m. on 3 August 2000

Latest time and date for receipt of
Forms of Proxy                                    10.00 a.m. on 6 August 2000

Extraordinary General Meeting                     10.00 a.m. on 8 August 2000

Dealings expected to commence in
New Shares and Warrants                            8.00 a.m. on 9 August 2000

New Shares and Warrants in
uncertificated form expected
To be credited to CREST accounts                                9 August 2000

Definitive certificates for New
Shares and Warrants in
Certificated form expected to
be despatched                                               by 11 August 2000