SOURCE: Provalis PLC

August 10, 2005 04:32 ET

Provalis plc announces Board Change

Deeside, Flintshire, UK -- (MARKET WIRE) -- August 10, 2005 --Provalis plc

Board change

The Board of Provalis plc (LSE: PRO; NASDAQ: PVLS), the international medical diagnostics and pharmaceuticals group, announces that Dr Philip Gould, Chief Executive has resigned. Peter Woodford, who joined the Board on 1 July 2005 as a non executive director, has agreed to become interim Chief Executive. The Board expects that he will carry out this role for at least six months whilst a new Chief Executive is sought.

Peter Woodford has extensive experience in the international healthcare industry with particular expertise in the diagnostics arena having latterly worked for over 15 years with Roche Diagnostics/Boehringer Mannheim. For eight of those years he was based in Germany and the USA and led all global strategic and commercial activities for Roche Diabetes Care.

The Board confirms that the Group's trading remains in line with its expectations as outlined in the trading update statement issued on 10 June 2005. The roll out of the Group's flagship product, in2itTM, remains unchanged as annotated in the statement on 26 July 2005.

Peter Woodford, commented;

"As I said when I joined the Group in July, I'm particularly excited by the commercial potential of in2itTM, our flagship A1c diabetes testing product. With the US launch of in2it well underway, I am confident that our diagnostics business is now set for growth."

Frank Harding, Chairman of Provalis, said

"In the short time Peter has been with us, he has already demonstrated his extensive business experience, especially in the diagnostic field and I am delighted that he is taking on the role - for which he is particularly well qualified - at this exciting stage in the Group's development.

"The Board wishes to express its gratitude to Phil for all his commitment and effort during his years as Chief Executive, especially for his critical role in getting In2it ready for a major launch into the USA. We also wish him well in his next endeavours."

10 August 2005

For further information:-                 
Provalis plc                                  01244 288888
Frank Harding, Chairman
Peter Woodford, Chief Executive

College Hill                                  020 7457 2020
Adrian Duffield/Corinna Dorward

Notes to Editors

Peter Woodford

Peter Woodford's first 16 year of his career included a variety of sales, marketing and general management roles with several well-known companies in pharmaceuticals, medical equipment and diagnostics.

From 1987, Peter spent 15 years with Roche Diagnostics/Boehringer Mannheim, serving as Managing Director of their UK operations before moving into international roles in 1994. He served as Senior Vice President, Roche Diabetes Care, responsible firstly for the Europe, Middle East and Africa Region and latterly for Global Marketing, Strategy and Business Development. He spent eight years at the headquarters of Roche Diabetes Care in Mannheim, Germany with a secondary base in Indianapolis, USA, leading all global strategic and commercial activities for Roche Diabetes Care; a £1.2 billion business.

Peter left Roche in 2002 and has since been advising a number of companies and investors in the diagnostics business.

He is a non-executive director of BJS Biotechnologies Ltd and a past Vice Chairman of the British In Vitro Diagnostics Association.

Provalis plc (LSE: PRO; NASDAQ: PVLS) ( is an international healthcare group with two operating businesses:-

-   Medical Diagnostics - The business' principal products are in2it TMA1c 
    and Glycosal(R), both diabetes diagnostic tests.  In2itTMA1c is a fully
    automated, point of care, diabetes diagnostic, testing platform which 
    has marketing clearance from the FDA in the US for use in both
    physicians' offices and at home on prescription.

-    Pharmaceuticals - sells and markets its own, and third party, branded,
     prescription medicines in the UK and Ireland to GPs and hospitals  
     through its regionally managed sales force. The business' principal 
     product is Diclomax(R), a medicine for use in the treatment of 
     musculo-skeletal disorders, and it also sells products in the areas
     of osteoporosis, migraine and dermatology.

"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Statements in this announcement that relate to future plans, expectations, events, performances and the like are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward-looking statements due to a variety of factors. Such factors include, among others: the viability of the Group's products, which are at various stages of development; the generation of sufficient operating cash flow by the Group's pharmaceutical and medical diagnostic businesses to finance the ongoing development of these businesses as well as the Group's research and development activities; the success of the Group's research and development strategy and activities; uncertainties related to future clinical trial results and the associated regulatory process; the execution and success of collaborative agreements with third parties; availability and level of reimbursement for the Group's products from government health administration authorities or other third-party payors; the rate of net cash utilisation within the Group and, hence, the Group's possible need for additional capital in the short, medium and/or long term; the Group's intellectual property position and the success of patent applications for its products and technologies; the Group's dependence on key personnel; general business and economic conditions; the impact of future laws, regulations and policies; stock market trends in the Group's sector; and other factors beyond the Group's control that may cause the Group's available capital resources to be used more quickly than expected. These and other factors that could affect the Company's future results are more fully described in its filings with the US Securities and Exchange Commission, in particular the latest 20-F filing, copies of which are available from the Company Secretary at the Company's registered address.

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