Placing - Replacement

RNS Number:6138Y
Henderson Morley PLC
12 May 2004


Please be advised of the following amendment to the Placing announcement
released on 12 May 2004 under RNS No 6088Y. The text "Billam AG is not connected 
to AIM listed Billam plc" has now been deleted. The full amended text appears 
below.

FOR IMMEDIATE RELEASE                                              12 MAY 2004

                              HENDERSON MORLEY PLC
                                     (AIM)

                        Business: Drug Discovery Company

                          Issue of new ordinary shares

Henderson Morley plc ("the Company") announces that the Board has, today, issued
and allotted, conditional upon Admission, a total of 55,155,555 new Ordinary
shares through a Placing to institutional investors and its directors at a price
of 1.125 pence per share, raising #620,500 for the Company.

Andrew Knight and Dr Ian Pardoe, directors of the Company, have each subscribed
#25,000 for 2,222,222 new ordinary shares as part of the Placing. It is intended
that these shares will be held in their respective Self Invested Pension Plans.
The Directors, other than Messrs Knight and Pardoe, having consulted with the
Company's nominated adviser, believe that the terms of this transaction are fair
and reasonable insofar as shareholders are concerned.

Following the Placing, Messrs Knight and Pardoe will own 73,153,764 and
38,132,004 shares respectively, representing 27.67% and 14.42% respectively of
the Company's enlarged issued share capital.

The Company also advises that it has been notified that, following the placing,
Billam AG, holds 8,111,111 Ordinary shares which represents 3.1% of the
Company's issued share capital.

The purpose of this Placing is to provide the Company with working capital to
continue to invest in its research and development and intellectual property.

Application has been made for the new shares to be admitted to AIM and trading
in the new shares is expected to commence on 18 May 2004.

                                    --ENDS--
Enquiries:

HENDERSON MORLEY PLC                                         Tel: 0121 442 4600
Andrew Knight, Chairman

BREWIN DOLPHIN SECURITIES LTD                                Tel: 0113 241 0126
Neil Baldwin

BISHOPSGATE COMMUNICATIONS LTD                               Tel: 020 7430 1600
Maxine Barnes                                             Mobile: 07860 489571
Dominic Barretto

Notes to Editors

Billam AG was established in 2000 as a specialist investment vehicle, with
particular interests in the convergence of digital and bio technologies where
opportunities for rational design, discovery and control are addressed in
computer based models.

Billam AG, based in Switzerland, invests in companies demonstrating:  *Patented
Intellectual Property, *Focused Strong Management, *Significant Competitive
Advantage, *Defined commercial strategies, *Ability to deliver growth and
profits year on year as a driver to share price and ultimately Shareholder
Value.

The Investment Strategy is clearly focused on Early Stage Research Projects and
Quoted Growth Stocks where, key to its Policy of Synergistic Investing, it
embraces the opportunities that convergent areas of scientific research
potentially present to investee companies within its Portfolio. The web site is
www.billamag.net

Further information on Henderson Morley plc can be accessed through the
Company's website at www.henderson-morley.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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