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Summit Corporation (SUMM)

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Tuesday 30 October, 2007

Summit Corporation

Re Agreement

Summit Corporation PLC
30 October 2007

                             Summit Corporation plc
                          ('Summit' or 'the Company')

  Six-month collaboration project will assess safety of proprietary compounds

Oxford, UK, 30 October 2007 - Summit Corporation plc (AIM: SUMM) today announces
the signing of a $450,000 deal with one of the world's top five pharmaceutical
companies that will see it using Summit's market-leading zebrafish technology
platform as part of its drug discovery and development process.

The undisclosed company will use Summit's zebrafish platform to asses a
significant number of its proprietary compounds for safety and toxicity effects
in a range of organs that are conserved between the zebrafish and humans
including the heart, liver, brain and gut. This extended pilot deal follows the
conclusion of an earlier successful validation study conducted between the two

Summit is the world leader in using zebrafish in drug discovery and its
innovative technology platform provides invaluable in vivo data of the effects
of drug candidates in relevant whole organisms at the earliest stages of drug
discovery and development. The in vivo data has the potential to improve the
success rate within drug discovery as it allows scientists to make rational
decisions about what compounds to advance through the discovery and development

Steven Lee, PhD, CEO of Summit plc, commented 'The signing of this pilot deal
with one of the world's largest pharmaceutical company is a major accomplishment
for Summit and demonstrates how we are translating initial validation studies
into longer-term and higher-value deals. The deal is also indicative of the
greater recognition within the wider pharmaceutical industry of the potential of
zebrafish technologies to accelerate the drug discovery and development process,
and Summit is confident of signing additional deals in the near future.'

                                    - ENDS -

For more information, please contact:

Summit plc                                               Tel: +44 (0)1235 443951
Steven Lee, PhD, Chief Executive Officer
Darren Millington, ACMA, Chief Financial Officer
Richard Pye, PhD, Investor Relations

Citigate Dewe Rogerson                                  Tel: +44 (0)207 638 9571
Mark Swallow / David Dible / Yvonne Alexander

Evolution Securities                                    Tel: +44 (0)207 071 4300
Tim Worlledge / Bobbie Hilliam / Neil Elliot

About Summit plc

Summit plc is a leading UK biotechnology company that discovers and develops
proprietary new drugs. The Company's internal drug development programmes are
underpinned by its advanced carbohydrate chemistry and drug screening (chemical
genomics) technology platforms, which it also provides on a collaborative or
fee-for-service basis to the pharmaceutical industry.

Summit plc has a broad range of drug discovery programmes in the clinical,
pre-clinical and discovery stages of development, which target serious diseases
with a high unmet medical need. These therapeutic areas include neuro-disorders
(neurodegenerative and neuromuscular), anti-infectives, ophthalmic diseases,
oncology and regenerative medicines.

Summit plc's in-house drug development capabilities combine world-class
expertise in both carbohydrate chemistry with high-volume, high-content
screening using its proprietary zebrafish and fruitfly technologies (chemical
genomics). These whole organism screens have the potential to dramatically
decrease the time and cost of drug discovery and development by delivering data
that are highly predictive of the efficacy and toxicity of potential drug
compounds in humans.

The company listed on the AIM market of the London Stock Exchange in October
2004 - symbol: SUMM

Further information about the company is available at

This document contains 'forward-looking statements' within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as 'anticipates', 'intends', 'plans',
'seeks', 'believes', 'estimates', 'expects' and similar references to future
periods, or by the inclusion of forecasts or projections.

Forward-looking statements are based on the Company's current expectations and
assumptions regarding our business, the economy and other future conditions.
Because forward-looking statements relate to the future, by their nature, they
are subject to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. The Company's actual results may differ materially
from those contemplated by the forward-looking statements. The Company cautions
you therefore that you should not rely on any of these forward-looking
statements as statements of historical fact or as guarantees or assurances of
future performance. Important factors that could cause actual results to differ
materially from those in the forward-looking statements and regional, national,
global political, economic, business, competitive, market and regulatory

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