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Friday 29 November, 2002

Greenchip Investment

Award of US Patent

Greenchip Investments  PLC
29 November 2002

 Greenchip Announces Award of U.S. Patent for the Cost Effective Manufacture of
                              Degradable Plastics

LONDON, United Kingdom - 29 November 2002  Greenchip Investments plc.(GRE.L)
today announced that their wholly-owned U.S. subsidiary, Programmable Materials,
Inc., has been awarded U.S. Patent 6,482,872 , "Process for manufacturing a
biodegradable polymeric composition". The patent, which was issued on November
19, 2002, covers a cost effective method of creating degradable polymer
materials (degradable plastic resins), as well as degradable products
manufactured from these resins using a wide range of manufacturing processes
(e.g. injection molding, blow molding, film casting and blowing, and extrusion).
This is the latest addition to Greenchip's portfolio of over 25 patents,
worldwide. Related patents are also pending and being actively prosecuted in a
number of additional jurisdictions as filings under the Patent Cooperation
Treaty (PCT).

"As the market for environmentally-friendly degradable plastic products and
highly functional programmable plastic materials continues to grow, so does the
need to produce these materials cost-effectively and in commercial volumes. This
patent covers a process for manufacturing degradable resins in quantity, from a
variety of monomer stocks, at a cost that should be comparable to that of
conventional non-degradable resins, and substantially lower than the
conventional multi-step polymer doping processing currently used," said Robert
H. Downie, the inventor as well as President and Member of the Board of
Directors of Greenchip Investments. "This patent also incorporates broad claims
regarding the use of such degradable materials in a wide range of manufacturing
processes critical to the commercial production of degradable plastic products
including films, packaging, bags, containers and other blown, molded or extruded
products and components."

Porter Bibb, Chairman of Greenchip Investments commented "This invention
represents a clear embodiment of Greenchip's focus, philosophy and mission. We
intend to use our extensive and growing capabilities in chemistry and
manufacturing to invent, develop and patent new and improved materials that can
be "programmed" to serve specific applications in environmental, biotechnology
and engineering markets."

About Greenchip Investments plc

Greenchip Investments plc (AIM-listed symbol: GRE.L) is a UK based public
holding company specializing in the invention, acquisition and development of "
Programmable Materials" technologies, by which plastic films and other plastic
materials can be programmed to change in predictable ways upon exposure to
anticipated or introduced conditions.  In 2002 Greenchip established
Programmable Materials, Inc., a wholly-owned US subsidiary, to further develop
these technologies, expand upon Greenchip's intellectual property portfolio, and
undertake a marketing and licensing program, focused initially on programmable

This press release contains forward-looking statements within the meaning of
section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. With the exception of historical information contained
herein, the matters discussed in this press release involve risk and
uncertainties. Actual results could differ materially from those expressed in
any forward-looking statement.

Greenchip Investments and Programmable Materials are trademarks of Greenchip
Investments plc. All other trademarks are the property of their respective

                      This information is provided by RNS
            The company news service from the London Stock Exchange