Holding in Company

Cambridge, UK and Cambridge, Massachusetts - 2 January 2004 - Acambis plc
("Acambis") (LSE: ACM, NASDAQ: ACAM) announces an interest in its shares by The
Goldman Sachs Group, Inc.

On 24 December 2003, Acambis received notification that, as of the close of
business on 22 December 2003, The Goldman Sachs Group, Inc., ("GS Inc") of 85
Broad Street, New York, NY 10004, USA, was interested, by attribution only, in
a total of 11,394,681 ordinary shares of 10p each, representing a 10.79%
holding of Acambis' issued share capital.

Of these 11,394,681 shares:

 a. the interest in 560,360 shares arose from an interest held by Goldman,
    Sachs & Co. ("GS&Co.") a direct subsidiary of GS Inc, acting as custodian
    of 56,036 American Depositary Receipts ("ADRs"); these ADRs are, or will
    be, held at The Depositary Trust Company, New York;
   
 b. the interest in 9,073,260 shares arose from an interest held by GS&Co., a
    direct subsidiary of GS Inc, acting as custodian; these shares are, or will
    be, registered in the name of Goldman Sachs Securities (Nominees), Limited
    ("GSSN");
   
 c. the interest in 1,672,331 shares arose from a beneficial interest held by
    Goldman Sachs International ("GSI") a direct subsidiary of GS Inc; these
    shares are, or will be, registered at CREST in account CREPTEMP; and
   
 d. the interest in 88,730 shares arose from the interest held by subsidiaries
    of GS Inc., acting as discretionary managers. It is understood that some of
    these shares are, or will be, registered in the name of GSSN.
   
                                    -ends-                                     

Enquiries:

Acambis plc

Elizabeth Brown, Company Secretary: Tel: +44 (0) 1223 275 300

Lyndsay Wright, Director of Communications: Tel: +44 (0) 1223 275 300

About Acambis

Acambis is a leading developer of vaccines to prevent and treat infectious
diseases. Recognised internationally as the leading producer of smallpox
vaccines, Acambis is developing a second-generation smallpox vaccine which is
currently undergoing clinical trials and, under a unique arrangement given the
threat of smallpox being used as a bioterrorist weapon, is manufacturing
emergency-use stockpiles of this investigational vaccine for the US Government
and other governments around the world. Acambis is establishing a travel
vaccines franchise through its US-based subsidiary Berna Products Corporation,
which markets Vivotif�, the world's only oral typhoid vaccine, in North
America. Acambis has a number of other potential travel vaccines in
development. A licence application has been submitted to the US Food and Drug
Administration for a vaccine against yellow fever and clinical trials are being
conducted for vaccines against Japanese encephalitis, travellers' diarrhoea and
dengue fever. Acambis recently became the first company to start human clinical
trials of a vaccine targeting the West Nile virus, which has spread to 45 US
States in the last four years.

Acambis is based in Cambridge, UK and Cambridge, Massachusetts, US. Its primary
listing is on the London Stock Exchange (ACM) and its shares are listed in the
form of American Depositary Receipts on Nasdaq (ACAM). More information is
available at www.acambis.com.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of
1995:

The statements in this news release that are not historical facts are
forward-looking statements that involve risks and uncertainties, including the
timing and results of clinical trials, product development, manufacturing and
commercialisation risks, the risks of satisfying the regulatory approval
process in a timely manner, the need for and the availability of additional
capital. For a discussion of these and other risks and uncertainties see "Risk
factors" in the Company's Annual Report and Form 20-F for the most recently
ended fiscal year, in addition to those detailed in the Company's filings made
with the Securities and Exchange Commission from time to time. These
forward-looking statements are based on estimates and assumptions made by the
management of Acambis and are believed to be reasonable, though are inherently
uncertain and difficult to predict. Actual results or experience could differ
materially from the forward-looking statements.



END