Preliminary Results for the Year Ended 31 December 2007

05/03/2008

Evolutec Group plc (AIM: EVC) announces Preliminary Results for the year ended 31 December 2007.

Actively seeking a single investment opportunity

The document is also published in full on the Company’s web site on the link below:

Evolutec Preliminary Announcement of Annual Results 2007 (PDF)

Highlights

• The loss for the year was £1.76 million (2006, loss £11.83 million)
• The Company made a small pre-tax profit of £0.17 million in the second half of 2007 reflecting the fact that interest payments on its cash deposits were sufficient to cover its cost base
• Net cash and cash equivalents on 31 December were £5.8 million (2006, £8.7 million)
• Based on 25.9 million issued ordinary shares, Evolutec had a cash value of 23.0p per share (2006, 33.6p per share) at the year end
• The Company has out-licensed its intellectual property in the biopharmaceutical area to third parties
• The Company is now classified as an investment company under the AIM rules.
• The Company is actively looking for a single investment opportunity

David Bloxham, Chairman of Evolutec, said:
The Company is actively seeking a single investment opportunity that has the potential to deliver value to all its shareholders in the next twelve months. During this period all steps will be taken to conserve cash and cash equivalents in the Company.

Enquiries:

Dr David P Bloxham, Chairman 07771 525 875
Mr Michael Meade, Numis Securities 0207 260 1000
Mr Oliver Cardigan, Numis Securities 0207 260 1000

Notes for Editors:

About Evolutec
Evolutec is listed on the AIM market of the London Stock Exchange and developed therapeutics originally isolated from the saliva of ticks. Following the unsuccessful outcome of Phase II clinical trials on its lead clinical trail candidate, the Company licensed its intellectual property to third parties and is now focussing all its activities on the identification of a single investment opportunity. This will take advantage of Evolutec’s AIM listing and its cash and cash equivalent reserve.