SOURCE: BioProgress PLC

June 07, 2005 02:01 ET

BioProgress PLC announces Issue of Equity / Redemption of Convertible Bond

Cambridgeshire -- (MARKET WIRE) -- June 7, 2005 --


Press Release                                        7 June 2005


                                BioProgress plc

                        ("BioProgress" or "the Company")

               Issue of Equity / Redemption of Convertible Bond


BioProgress plc (AIM: BPRG; NASDAQ: BPRG) confirms that 4,285,714 ordinary
shares have been admitted for trading on the Alternative Investment Market
today.  As announced on 1 June 2005, these new shares represent part
consideration for the repurchase of the convertible bond issued on 6 October
2004 and redeemed on 1 June 2005.

For further information please refer to the Company's statement of 1 June 2005.


BioProgress plc                              www.bioprogress.com
Dan Farrow                                   dan.farrow@bioprogress.com
Finance Director


Forward-Looking Information.

The Ordinary Shares of BioProgress plc are registered under the US Securities
and Exchange Act of 1934.  To the extent that this announcement contains certain
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, this paragraph applies.  These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances.  Actual results may vary materially from the
expectations contained in the forward-looking statements.  The forward-looking
statements in this release include statements addressing future financial and
operating results and the timing and benefits of the reorganisation.  Detailed
information about factors pertinent to the business of the company that could
cause actual results to differ is set forth in the Company's filings with the
Securities and Exchange Commission.  The Company is under no obligation to (and
expressly disclaim any such obligation to) update or alter its forward-looking
statements whether as a result of new information, future events or otherwise.
This announcement is for information only and does not constitute an offer or
invitation to acquire or dispose of any securities or investment advice.  The
distribution of the announcement and/or issue of securities in certain
jurisdictions may be restricted by law.  Persons into whose possession this
announcement comes are required to inform themselves about and to observe such
restrictions.


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