AGM Statement

RNS Number : 0494X
Oxonica plc
19 June 2008

19 June 2008

Oxonica plc

AGM statement

At the Annual General Meeting of international nanomaterials group Oxonica plc (LSE: OXN.L), to be held later today, Dr Kevin Matthews,
Chief Executive Officer, will give the following update on trading.

I am pleased to report that, after excluding the sales to Petrol Ofisi in the prior year, Oxonica's revenues to date in 2008 are
significantly higher than for the comparative period in 2007. Also, the operating loss and the cash outflow from operations are lower than
in the corresponding prior year period. On 12 June 2008, the Group had cash balances of �3.7 million. Oxonica is focused on improving the
profitability of all its businesses during 2008.

Oxonica Energy: Following the successful outcome of the follow-on trial with Stagecoach announced in February 2008, the Company has seen
a significant increase in interest in Envirox* and now has a stronger pipeline of potential customers than at any time in its history. The
continued rise in oil prices and enhanced environmental pressures are making Envirox* an increasingly attractive product for all types of
significant diesel fuel users. In comparison with H1 2007 and excluding the one-off sales to Petrol Ofisi, sales of Oxonica Energy's fuel
combustion catalyst, Envirox* are 49% higher than the corresponding period in 2007. In addition to growing sales in the UK and Germany, the
Company has now made initial sales into Russia for applications in the mining sector.

Oxonica Materials: The performance of Optisol* UV absorber has been disappointing. There has been some destocking in the supply chain in
the first half of 2008. In addition the winning of new accounts has been slower than expected as a result of the high price point of
Optisol*. Discussions are in progress with both the supplier and distributor of Optisol* regarding reducing supply chain costs and the
Company expects to announce a revised supply structure later in the year. In the meantime a fully formulated product, Optisol* Sun Defence,
has been launched in the UK market and the initial feedback has been encouraging.

Oxonica Security: As reported earlier in the year, Security received purchase orders totalling US$2.15 million in April 2008 for a
number of development products to be delivered over the seven months through October 2008 as part of a continuing project with one of its
existing customers. On completion of the deliveries against these orders, revenue to this customer will have amounted to US$5.30 million
since November 2005. This follow-on order resulted from the successful completion of the orders announced in June, 2007 and the significant
technical progress achieved. The business is now implementing the necessary process developments to allow product manufacture on a
commercial scale.

Oxonica Diagnostics: As reported in the preliminary results statement released in March, Oxonica is working with ThinkPanmure, a US
investment bank, to identify potential strategic partners for this business. The Group is now in discussions and expects to be able to make
an announcement in due course. In the meantime, actions have been taken to improve the profitability of this business through a reduction in
the cost base of the US operation where the headcount has been reduced by one third.

Neuftec: In 2007 Neuftec acknowledged that Envirox* as supplied by Nyacol, Oxonica's strategic partner, does not fall within the claims
of their granted patent, EP(UK) 1299 508. The High Court hearing to consider whether or not royalties are payable on Envirox* sourced from
Nyacol prior to the termination of the licence agreement was held on 11 June 2008. However, no judgement has yet been issued. The amount of
royalties which might be payable has been fully provided for in the Company's books. Following the High Court Hearing, Neuftec issued
further legal proceedings relating to the alleged supply of Envirox* sourced from Advanced Nanotechnologies, Oxonica's previous supplier,
seeking inter alia an injunction to restrain Oxonica from infringing their patent. Oxonica is considering the appropriate course of action
with its advisors. The stock of Envirox* sourced from Advanced Nanotechnologies held by Oxonica has been fully written-off.

Board: As announced on 12 May 2008, Martin Hagen will not be seeking re-appointment to the Board at the AGM due to an increase in his
other professional commitments at the Institute of Chartered Accountants in England and Wales and at the Financial Services Authority. The
Company has commenced the search for a replacement for Mr Hagen and in the meantime Ed Weeks will be the Senior Independent Director.

Oxonica intends to report its interim results on 22 September 2008.

For further information, please contact:

Oxonica plc 01865 856 700
Kevin Matthews, Chief Executive
Richard Clarke, Finance Director

The Broadcast PR Business 020 7812 6624
Matthew Locke

Panmure Gordon 020 7459 3600
Hugh Morgan
Andrew Potts

Notes to Editors

About Oxonica plc - www.oxonica.com

Oxonica (AIM: OXN.L) is one of the leading international nanomaterials groups with products already launched into international markets
and is listed in London on the AIM market. It was spun-out from Oxford University in 1999. Oxonica's mission is to focus on the development
of innovative commercial solutions for international markets using its expertise in the design and application of nanomaterials. It owns a
portfolio of demand driven products that offer substantial benefits to the target markets of energy, materials, security and diagnostics.

The Group currently has four operating businesses: Oxonica Energy, Oxonica Materials, Oxonica Security and Oxonica Diagnostics. Oxonica
has already launched products into international markets. Lead products include:
* Envirox* fuel combustion catalyst - a catalyst improving fuel economy and reducing emissions
* Optisol* UV absorber - a revolutionary photostable UV protection system designed to optimise the performance of quality sunscreens
and anti-premature aging products

Oxonica is also engaged in developing a transformational detection technology that will enable a new generation of rapid, sensitive
tests for the in vitro diagnostic point-of-care testing market. In addition, Oxonica is developing other UV absorber technologies into
polymer systems and coatings, based on similar technologies to that used in Optisol*.

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

END

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