HTD Huntingdon Life

RNS Number:5769X
Huntingdon Life Sciences Group PLC
22 January 2001



                Huntingdon Life Sciences Group Plc ("Company")



The Company is delighted to announce that it has successfully completed the
re-financing of its current bank facilities, which expired on 19 January 2001.
A substantial proportion of these facilities have been assigned to HLSF LLC,
which is associated with a related party.



Pursuant to the new financing arrangements, the term of the loan has been
extended until 30 June, 2006 and, in addition, certain lenders have agreed to
provide additional working capital facilities sufficient for the Company's
needs.  The directors are of the opinion that, taking into consideration the
new facilities made available, the Company has sufficient working capital for
its present requirements, that is, for at least 12 months from the date of
this announcement.



Royal Bank of Scotland ("RBS") stated that further finance or facilities would
not be made available and unless the transaction was effected immediately they
would be withdrawn. All alternative methods of financing having been
exhausted, the transaction with HLSF LLC was the only option remaining to the
Group.  The Company's sponsor also confirmed that, without bank facilities,
the Company was in severe financial difficulty and would not have been in a
position to meet its obligations as they fell due unless the transaction took
place.   In view of the expiry of the Group's bank facilities, there was
insufficient time to obtain shareholder approval to these arrangements.



The directors, who have been so advised by an independent adviser, consider
that the re-financing by HLSF LLC is fair and reasonable so far as the
shareholders as a whole are concerned and in the best interests of the Company
and shareholders as a whole and unless the transaction was completed,
receivers/administrators/liquidators would be likely to be appointed.



The Company announced its results for three months ended September 30, 2000 on
15 November 2000, when it reported revenues for the quarter of #16.1 million,
representing an increase of 6.8% over the equivalent period in 1999.  The US
business has continued to trade well although the UK business remains
depressed.  The Company expects to announce its results for the year ended 31
December 2000 by 31 March 2001.

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