Press Release: Proteome Sciences Plc - Additional Loan Agreement

25 Jun 2008

Cobham, England (June 24, 2008) – The Directors of Proteome Sciences plc are pleased to announce that following the release of the preliminary announcement of the results for the year to the 31st December, 2007, the Company has entered into a further loan agreement with C.D.J. Pearce, the Chief Executive of the Company, under which the amount of the facility available has been increased to up to £8m.  The agreement is on the same terms as the loan agreement dated 21st February, 2008 save that security for the total loan facility includes a floating charge over the company’s stock-in-trade.

In relation to the increase in the loan facility from C.D.J. Pearce, the Directors of the Company, (with the exception of C.D.J. Pearce who, in view of his interest in the transaction, has taken no part in the consideration thereof), having consulted with its nominated adviser, consider that the terms of this transaction are fair and reasonable insofar as shareholders are concerned.

The Report and Accounts for 2007 will be posted to shareholders on the 27th June and the Annual General Meeting will be held on Monday 28th July, 2008.

For further information please see attached announcement or contact 

Attachments:

 08_24 June_Loan Agreement.pdf