RNS Number:1137N
UBS Limited
03 July 2003

Date of disclosure...03 July 2003



DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS


Date of dealing ...02 July 2003



Dealing in ...PowderJect Pharmaceuticals plc ............(name of company)



(1)  Class of securities (eg ordinary shares) .........ORD 0.10P


(2)   Amount bought         Amount sold              Price per unit

         450,000                                     GBP 5.50


(3)   Resultant total of the same class owned or controlled

      (and percentage of class)    ( %)

      4,205,332 (4.56%)


(4)    Party making disclosure ...UBS Limited

(5)    EITHER   (a)   Name of purchaser/vendor (Note 1)Chiron UK-1 Limited

       OR       (b)       If dealing for discretionary client(s), name
of fund management organisation


(6)          Reason for disclosure (Note 2)

         (a)   associate of   (i)    offeror (Note 3)     YES       
                             (ii)    offeree company      NO


           Specify which category or categories of associate (1-8 overleaf) 1



              If category (8), explain



          (b)   Rule 8.3 (ie disclosure because of ownership or
                control of 1% or more of the class of relevant securities 
                dealt in)        NO



Signed, for and on behalf of the party named in (4) above ..........n/a

(Also print name of signatory) ....................... Philip Ellick

Telephone and extension number ............................020 7568 4161

______________________________________

Note 1.   Specify owner, not nominee or vehicle company. If relevant, also
identify controller of owner, eg where an owner normally acts on instructions of
a controller.

Note 2.   Disclosure might be made for more than one reason; if so, state all
reasons.

Note 3.   Specify which offeror if there is more than one.

Note 4.   When an arrangement exists with any offeror, with the offeree company
or with an associate of any offeror or of the offeree company in relation to
relevant securities, details of such arrangement must be disclosed, as required
by Note 6 on Rule 8.

Note 5.   It may be necessary, particularly when disclosing derivative
transactions, to append a sheet to this disclosure form so that all relevant
information can be given.

Note 6.  In the case of an average price bargain, each underlying trade should
be disclosed.

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




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