Sir John Banham Appointed Non-Executive Chairman Of Cyclacel

DUNDEE - 23 September 2002 - Cyclacel Limited, the UK-based biopharmaceutical company, announced today the appointment of Sir John Banham as Non-Executive Chairman. Sir John joined the Board of Cyclacel in July. His appointment follows the decision by Professor Sir William Stewart to step down as Non-Executive Chairman following his appointment as Shadow Chair of the Government’s proposed Health Protection Agency. Sir William had been Non Executive Chairman for four years and will remain on the Company’s Board.

Sir John, 61, is non-executive chairman of Whitbread PLC, Geest PLC, and ECI Ventures Ltd, and is also the senior non-executive director of AMVESCAP PLC. He has previously held several leading positions in British industry. He was Director General of the Confederation of British Industry (CBI) from 1987-1992. He was non-executive chairman of Tarmac PLC (1994-2000) and Kingfisher PLC (1996-2001). Sir John has held important public sector appointments: the first Controller of the Audit Commission (1983-1987); and the first Chairman of the Local Government Commission for England (1992-1995). He is a past Treasurer of the Cancer Research Campaign.

Professor Sir William Stewart, said; "I greatly welcome Sir John’s appointment as Non-Executive Chairman of Cyclacel. The company has an outstanding science base and Sir John’s progressive and wide business experience is what is now needed as the company moves forward to further develop its product pipeline. I shall remain on the Board of Cyclacel, but following my recent appointment as Shadow Chair of the government’s proposed Health Protection Agency, it is timely for a new Chairman to be appointed."

Sir John Banham commented; "It is a great privilege to become involved in the further development of Cyclacel. The Company has a strong management team, the support of a significant group of shareholders and the potential to make a major contribution to the treatment of cancer in Britain –where survival rates for cancer patients are amongst the poorest in the developed world- and beyond. I am delighted that Bill Stewart’s wisdom and experience will continue to be available to the Company as it seeks to realise its full potential."

Spiro Rombotis, Chief Executive of Cyclacel said; "Sir John Banham is a distinguished business leader with a formidable service record on boards of large public companies. His visionary leadership and corporate governance stewardship are going to play a very important role as Cyclacel seeks to enter its next period of growth. In addition to talented scientists and a portfolio of novel drugs emerging from our understanding of the cell cycle and structure-based drug design, a strong board led by Sir John will be a critical element in our future success."