RNS Number:4412Q
BTG PLC
02 October 2003

2 October 2003



               BTG plc: Close Period Update and Notice of Results



BTG plc (LSE: BGC), the global technology commercialisation company, today
issued the following update for the six months ended 30 September 2003 ahead of
the Company's Interim Results on 1 December 2003.  Results for the period are
expected to be in line with the Board's expectations, with a significant
increase in revenues and reduced losses.  Good operational progress was made
across the portfolio.


Total and net revenues are expected to show significant growth compared with the
first half of 2002.  Investments in technology development, in Provensis and in
ventures are expected to be higher than in the same period last year, in line
with the Group's strategy to continue to invest selectively in the acquisition,
development and commercialisation of emerging technologies.  Administration and
other operating costs are anticipated to be lower than in the first half of last
year, reflecting the benefits of BTG's restructuring in December 2002.
Consequently, the operating loss and loss before tax are expected to reduce.



Provensis, BTG's subsidiary that is developing VARISOLVE(R), the novel varicose
vein technology, presented the preliminary results of a pivotal European Phase
III trial at a scientific congress in San Diego on 30 August.  The results, in
which VARISOLVE(R) achieved an 83.4% response rate based on a very stringent
primary endpoint, will form the basis of the first regulatory submission in
Europe as planned in 2004, with the first European launch targeted in 2005.  A
Phase II trial is progressing in the US, and data from the second of three
20-patient cohorts is expected to be submitted to the US FDA this calendar year.
Construction of a shell facility and small scale manufacturing production line
continued in the UK.  Commercialisation planning continues, with two broad
options under consideration: the licence to or joint venture with an established
healthcare company; or, Provensis taking the product to market with appropriate
contracted support.  Discussions with potential partners have commenced and a
decision on the preferred commercialisation route is expected during the current
financial year.



While the environment for commercialising technologies has remained challenging,
potential licensees have been more willing recently to discuss commercial terms
for a range of technologies.  Several new licences were signed in the first
half, with good prospects for completing additional licence agreements in the
second half.



The market for providing technology commercialisation services to sources of
technology and intellectual property has remained strong during the first half.
BTG has continued to develop its relationships with both new and existing
clients and, in accordance with BTG's renewed focus on a smaller number of
high-quality opportunities, 13 new technology commercialisation agreements were
signed with academic and corporate sources.



Offering more developed technologies has proven to be attractive to potential
licensees or venture partners, and 17 new development projects were authorised
to develop technologies further prior to commercialisation.



From the Ageing & Neuroscience portfolio, two compounds with the potential to
treat anxiety and depression were licensed to Abiogen Pharma S.p.A.  From the
Oncology portfolio, plans were announced to investigate BGC 9331 in a Phase I/II
trial for its use as a first-line treatment for gastric cancer.  In the
Semiconductor Technologies area, a collaboration with Taiwan's Industrial
Technology Research Institute (ITRI) was signed in which BTG and ITRI will
jointly develop, and BTG will commercialise, a polymer technology for
information displays for use in the next generation of laptop computers, mobile
phones, PDAs and television sets.



In Ventures, where BTG seeks to leverage its core IP, technology and commercial
expertise by investing in early stage technology companies with high growth
potential, BTG co-led an investment in Cambridge-based Xention Discovery Ltd,
which will develop drug screening programmes in the cardiovascular and neurology
areas.  BTG will also be a co-sponsor of a new early stage life sciences fund
based in Boston, MA.



BTG will announce its Interim Results at 7.00am on 1 December.  A presentation
to analysts at 9.30am will be broadcast live via the company's website
www.btgplc.com.



                                      Ends



For further information contact:


BTG                                                     Financial Dynamics
Andy Burrows, Director of Investor Relations            Ben Atwell
+44 (0)20 7575 1741                                     +44 (0)20 7831 3113



About BTG

BTG finds, develops and commercialises emerging technologies in the life and
physical sciences. These innovations are protected by a strong portfolio of
intellectual property that BTG develops and enhances. BTG then captures the
value in these technologies through licensing and venturing activities. From the
origins of its business in 1949, BTG has commercialised major innovations such
as Magnetic Resonance Imaging (MRI), recombinant factor IX blood-clotting
protein, Campath(R) (alemtuzumab) and Multilevel Cell (MLC) memory. BTG is
quoted on the London Stock Exchange under the symbol "BGC" and operates from
offices in London and Philadelphia, with representation in Tokyo. BTG operates
through wholly owned subsidiaries, BTG International Ltd. and BTG International
Inc. in the UK and USA, respectively. Further information on BTG can be found at
www.btgplc.com.


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