RNS Number:1325Z
ING Bank N.V. London Branch  (EMM)
25 July 2002

                                                             FORM 38.5 (SUMMARY)

Lodge with Company Announcements Office and the Panel. Use a separate form for
each class of securities in which dealings have been made.



CONNECTED EXEMPT MARKET- MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS



Name of EMM
ING Bank Nv, London Branch

Date of disclosure
25 July 2002

Contact name
Vicki Surgeoner

Telephone number
020 7767 8964

Please see attached disclosure of dealings under Rule 38.5 in the securities
of the following companies:
Cenes Pharmaceuticals

AMENDMENT

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:




In the case of option business or dealings in derivatives full details should be
given on a separate sheet so that the nature of the dealings can be fully
understood. For options this should include the number of securities under
option, the exercise period (or in the case of exercise, the exercise date), the
exercise price and any option money paid or received. For derivatives this
should include, at least, the number of reference securities to which they
relate (when relevant), the maturity date (or if applicable the closing out
date) and the reference price.

For full details of the disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel, Tel. No: 020 7638 0129.

                                                                       FORM 38.5

CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Dealing in (name of company)
Cenes Pharmaceuticals

Class of security
Ordinary 10p

Date of disclosure
25 July 2002

Date of dealing
24 July 2002

Name of EMM
ING Bank NV, London Branch

Name of offeree/offeror with whom connected
Cenes Pharmaceuticals

Total number of securities purchased
50,000

Highest price paid*
0.045

Lowest price paid*
0.045

Total number of securities sold




Highest price received*




Lowest price received*




*Currency must be stated




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