Cyclacel Announces Postponement Of Initial Public Offering

Dundee, U.K. - 26 July 2004 - Cyclacel Group plc (“Cyclacel”), the cell cycle-based biopharmaceutical company, announced today that it has postponed its Initial Public Offering on NASDAQ and the London Stock Exchange because of market conditions. Cyclacel completed a private placement in January 2004 which raised $39 (£21) million and intends to continue executing its business strategy as an unlisted company.

About Cyclacel
Cyclacel is a biopharmaceutical company dedicated to the discovery, development and commercialization of novel, mechanism-targeted drugs to treat human cancers and other serious disorders.