Result of Equity Issue

RNS Number:8144S
Provalis PLC
20 October 2000


 Provalis plc announces results of the Placing and Open
                     Offer announced
                 on 28th September 2000


The Open Offer to Qualifying Shareholders of Provalis plc
of  39,055,863  new ordinary shares of  1p  each  ("Offer
Shares") at 29.5p per share closed at 3.00 pm on Thursday
19 October 2000.

Applications were received in respect of 1,172,999  Offer
Shares,  representing 3% of the Offer Shares. As  all  of
the Offer Shares (other than 21,587 irrevocably committed
to being taken up by those directors who hold shares) had
been placed with institutional and other investors, those
institutional  and  other  investors  will  take  up  the
balance of 37,882,864 Offer Shares.

The  Placing  and  Open Offer, which is  subject  to  the
approval  of  shareholders  at an  Extraordinary  General
Meeting  to  be  held on Monday 23rd October  2000,  will
raise #10.8 million after expenses.

Dr  Phil Gould, Chief Executive Officer of Provalis  plc,
commented:  "We  are very pleased to have  been  able  to
raise  this  additional  funding particularly  given  the
recent  market  conditions.   The  net  proceeds  of  the
Placing  and  Open  Offer  are intended  to  be  used  to
increase   our  Glycosal(TM)  supply  capability  and fund
development   opportunities   which   we   believe   will
accelerate the growth of Provalis."

The  Offer  Shares to be issued in the Placing  and  Open
Offer have not been and will not be registered under  the
US  Securities  Act of 1933 as amended  and  may  not  be
offered  or sold in the United States absent registration
or  an  applicable  exemption.  An  exemption  from  such
registration   has   not   been   sought   or   obtained.
Consequently, neither the Open Offer nor Placing has been
made  in the United States or to US persons. In addition,
the  Open  Offer was not made to shareholders in  Canada,
Australia, Japan or the Republic of Ireland.


Provalis' Internet Website ; http://www.provalis.com

'Safe  Harbor' Statement under the US Private  Securities
Litigation  Reform  Act of 1995:   Some  or  all  of  the
statements in this document 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,  including  those set forth  in  Provalis  plc's
filings with the US Securities and Exchange Commission.

For further information:-

Dr Phil Gould, Provalis plc,               Tel:  01244 833463
Mr Lee Greenbury, Provalis plc,            Tel:  01244 833402
Lisa  Baderoon, Buchanans Communications,  Tel: 020 7466 5000



Notes to Editors

Provalis  plc (LSE.PRO and NASDAQ.PVLS) is an  integrated
healthcare business with three separate divisions focused
on  the  supply  and sale of prescription medicines,  the
development, manufacture and sale of medical  diagnostics
worldwide,   and  the  development  of  new   therapeutic
products such as vaccines to combat infectious diseases.

The three divisions are:-

Healthcare - This division sells and  markets  branded,
third party, prescription medicines in the UK to GPs  and
hospitals through its own regionally managed sales force.
This   division   sells  products   in   the   areas   of
gastroenterology, osteoporosis, migraine and dermatology.

Medical  Diagnostics - This division develops  and  sells
medical  diagnostic  products to  world  markets  through
distributors.  This division has an established  business
in  diagnostic products for infectious diseases  and  has
recently  launched the innovative products Glycosal(TM) and
Osteosal(TM) in  the  areas  of diabetes  and  osteoporosis
respectively.

Therapeutic  Research  &  Development - This   division
develops  a  range of vaccine candidates  for  infectious
diseases through a network of research collaborators.
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