SOURCE: BioProgress PLC

April 13, 2005 03:48 ET

BioProgress PLC announces - Trading Statement

Cambridgeshire -- (MARKET WIRE) -- April 13, 2005 --

Press Release 13 April 2005

BioProgress plc

("BioProgress" or "the Company")

Trading update

BioProgress plc (AIM: BPRG; NASDAQ: BPRG), the provider of innovative delivery mechanisms for the pharmaceutical oral dosage markets, advises that current trading levels at its BioTec Films subsidiary in Tampa are not as strong as previously anticipated and are unlikely to reach levels indicated in previous announcements. The Company's consolidated overheads, before any capital expenditure, are also expected to be higher than previously indicated. The Board retains its belief that, within the Company's portfolio, there are technologies which could produce significant value on commercialisation. A thorough strategic and financial review is being performed, which the Board will report on in due course.

- Ends -

Forward-Looking Information.

The Ordinary Shares of BioProgress plc are registered under the US Securities and Exchange Act of 1934. This announcement contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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. 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 disclaims 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 this 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.


For further information:
BioProgress plc

Dan Farrow                                    Tel: +44 (0) 7940 913233
dan.farrow@bioprogress.com                    www.bioprogress.com
                                                         

UK Media enquiries:
Abchurch

Chris Munden / Julian Bosdet                   Tel: +44 (0) 207 398 7700
chris.munden@abchurch-group.com                www.abchurch-group.com
                                                      
US Investor enquiries:
Taylor Rafferty

Andrew Saunders                                Tel: +1 212 889 4350
andrew.saunders@taylor-rafferty.com            www.taylor-rafferty.com
                                                     

Notes to editors:

BioProgress listed on AIM in May 2003 and on NASDAQ in October 2004, and is engaged in the research, development, and design of patented encapsulation systems that use water soluble and biodegradable films for the dietary supplement, pharmaceutical and other sectors. The Company's portfolio comprises over 80 patents granted or in application within 24 patent families and has product development agreements and strategic alliances with several global companies. BioProgress aims to provide a cost effective and animal-free encapsulation process for pharmaceutical drugs in liquids, tablets and powders, thereby addressing the needs of the entire market for oral dosage forms while providing novel delivery mechanisms not possible with traditional processes.



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

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