NEWS

Any statements contained in these releases that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties as identified in the Company's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. No statement herein should be considered an offer of any securities. Such an offer can only be made in accordance with federal and applicable state securities laws. Readers are cautioned not to place undo reliance on these forward-looking statements, which speak only as the date hereof. CBI and any other companies mentioned offer no guarantee that a final partnership will be formed, nor that, if actually formed, such partnership will be successful in enhancing the revenues of either company. CBI and any other companies mentioned undertake no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Specifically, there can be no guarantee that the contracts referred to herein will not be prematurely terminated thereby reducing or eliminating any revenues associated with said contracts.

December 6, 2001

Commonwealth Biotechnologies, Inc. and MediRox AB Sign License Agreement for Diagnostic Use of HepArrest

Company grants non-exclusive world-wide license to MediRox for in vitro heparin reversal in MediRox instrument platform

Commonwealth Biotechnologies, Inc. (NASDAQ SmallCap Market: CBTE), a life sciences contract research organization and biotechnology company, today announced that it has signed a license and sales agreement with MediRox AB, Linköping, Sweden, for use of CBI's HepArrest in MediRox's patented point-of-care instrumentation platform for measuring hemostatic characteristics of whole blood or plasma. HepArrest is CBI's potential human pharmaceutical with demonstrated efficacy in reversing the anticoagulant effects of heparin or of low molecular weight heparin-like molecules in animal models.

The MediRox instruments assess the state of coagulation in patient samples through free oscillation based rheological measurements. The instruments are sold to major medical centers where accurate and rapid determination of the state of hemostasis in surgery and burn patients is required. "HepArrest will extend our abilities to measure the underlying state of coagulation in heparinized patients," said Dr. Mats Rånby, CEO of MediRox, AB. "Our intent is to package HepArrest into our reagent kit and to sell HepArrest as an add-on reagent for use in our oscillation based instruments. HepArrest is very effective for heparin neutralization and we are pleased to be working with CBI to further commercialize this compound."

According to the terms of the Agreement, MediRox will pay CBI a $50,000 license fee and will purchase HepArrest exclusively from CBI. In return, CBI will guarantee MediRox a constant supply of HepArrest at discounted pricing and will not sell its compound to any third party which might compete with MediRox for supply of reagents for the oscillation-based instrumentation.

"This is an exciting occurrence for CBI," commented Robert B. Harris, President, CBI. "HepArrest was created, synthesized and tested at CBI through a process of rational drug design. It addresses a problem of considerable importance to the clinician and is entirely a CBI property. The current FDA approved drug used to reverse heparin therapy in patients is protamine, but this drug is fraught with adverse side effects. Execution of a license for in vitro diagnostic use of HepArrest with a recognized leader in point-of-care instrumentation is but one more example of how HepArrest can fulfill unmet needs in patient care. Execution of a License Agreement helps validate the importance of HepArrest."

"More importantly, the demonstration of complete reversal of heparin anti-coagulation in human clinical samples validates the potential of HepArrest as a human therapeutic. CBI's intent is to move HepArrest into clinical trials to determine its utility as a human pharmaceutical." added Harris.

MediRox was founded in 1998 with the acquisition of ILS Laboratories Scandinavia AB and Global Hemostasis Institute MGR AB. The daughter companies, founded in 1992 and 1994, respectively, represent marketing and research capabilities in the area of medical diagnosis of circulatory disorders. MediRox is a for-profit company with a firm patent position in monitoring hemostatic characteristics during major surgery and other facets of intensive medicine. MediRox has research facilities in the University Hospital of Linköping and marketing facilities in Stockholm, Gothenburg and Jönköping. For more information on MediRox visit www.medirox.se.

September 25, 2001

Commonwealth Biotechnologies, Inc. Signs Extended DNA Sequence Analysis Contract for Human Pathogenic Organisms

Company is rapidly becoming a National leader in analysis of complex biologics

Commonwealth Biotechnologies, Inc. (NASDAQ SmallCap Market: CBTE), a life sciences contract research organization, today announced that it has signed a new contract with a government sponsor to perform detailed DNA sequence analyses of particular organisms for the purpose of strain differentiation. The new contract is expected to generate nearly $800,000 in revenue over the next 5 years with $200,000 anticipated in the first year of the contract. This new contract is in addition to two other recently signed contracts, all of which are aimed at design, implementation and testing of novel analysis protocols for the presence of trace amounts of environmental analytes. In total, these contracts are expected to bring over $2 million in revenues into the Company over the next year.

"CBI is widely recognized for its expertise in high throughput DNA sequence analysis," said Tom Reynolds, Senior Vice President and Project Manager for the new contract. Added Reynolds, "in awarding this contract, the sponsor recognized CBI's leadership role in analysis of pathogenic organisms, particularly pathogenic organisms that may play a significant role in bio-terrorist activities."

"CBI is well positioned to be the prime contractor for our clients who require our unique capabilities," commented Robert B. Harris, President, CBI. "CBI offers integrated platform technologies spanning virtually every aspect of modern life sciences research. Our clients recognize and appreciate the ability to perform all their work under a single management team within the same facility."

September 20, 2001

Commonwealth Biotechnologies, Inc. Active In War Against Bio Terrorism

Company is National leader in analysis of Pathogenic Organisms and Toxins

For the past three years, Commonwealth Biotechnologies, Inc. (NASDAQ SmallCap Market: CBTE), a life science's contract research organization, has worked under different government contracts to develop and implement novel methods for detection and analysis of human pathogenic organisms and toxins which could conceivably be used in a bio-terrorist attack. The horrific events of September 11 have made Americans acutely aware of real and perceived terrorist threats to our National safety.

"Few people realize the complexities involved in trying to confirm the presence of pathogenic organisms in environmental matrices," said Dr. Robert B. Harris, President of CBI and Scientific Director for most of the on-going studies. "CBI is well positioned to do this work because we can apply CBI's collective expertise in the areas of bioorganic chemistry, mass spectroscopy, microbiology and molecular biology and so forth to addressing the goals of the research problems."

The research contracts under which CBI operates to meet these objectives collectively bring over $ 2 million into the Company on an annual basis. Each of the contracts can be renewed annually at the discretion of the individual sponsors for periods up to 5 years. CBI just recently signed two new multiple year contracts which extend the Company's work in protocol development. Due to confidentiality issues, details of the new contracts cannot be made available.

"The sponsors of these research programs acknowledge CBI's expertise in the field and recognize the importance of continuing fundamental work in the area of identifying molecular analytes in environmental samples", said Tom Reynolds, Senior Vice President of CBI. "CBI is one of only a few select companies which can undertake these research programs," added Reynolds, "and is widely recognized for its leadership role in designing, implementing, and testing novel detection protocols for the presence of pathogenic organisms and toxins."

Harris concludes, "Speaking on behalf of our industry, we stand ready to help in any way possible to minimize very real threats to our collective future."

August 16, 2001

Commonwealth Biotechnologies, Inc. Signs Research and Development Contract

Company to Continue Methods Development for Identification of Environmental Analytes

Commonwealth Biotechnologies, Inc. (NASDAQ SmallCap Market: CBTE) a contract research organization today announced that it has signed a new contract with a private sponsor to continue an ongoing project in methods development for Identification of environmental analytes. The new contract will generate nearly $900,000 in revenue over the next year. This new contract is an extension of work already completed in the latter half of 2000 for which CBI was paid nearly $300,000 bringing the total valuation of the contracts to nearly $1.2 million.

"In awarding this new contract, the sponsor of this research program acknowledges CBI's expertise in the field and recognizes the importance of continuing fundamental work in the area of identifying molecular analytes in environmental samples," said Tom Reynolds, Senior Vice President of CBI and Project Manager for the contract.

"This contract represents a continuation and extension of our basic plan, to perform an integrated scheme of biotechnology for contractual clients," commented Robert B. Harris, President, CBI and Scientific Director for the contract. "We are uniquely positioned to be the sole out-source for virtually any company or institution involved in life sciences research. Specifically, this research program will integrate virtually all of CBI's platform technologies in bioorganic chemistry, mass spectroscopy, microbiology and molecular biology," he added.

July 23, 2001

Commonwealth Biotechnologies, Inc. and bayMountain, Inc., to Develop Rapid Genomics Databasing Methods

Alliance to create "user friendly" genomics portals should expand client base for both companies

Commonwealth Biotechnologies, Inc. (NASDAQ SmallCap Market: CBTE) a contract research organization, and bayMountain, Inc, a leader in complex web and application infrastructure services, today announced they have signed a letter of intent to develop and commercialize rapid, "user-friendly" methods to help interpret and mine the data present in genome databases. Both companies see an opportunity to combine state-of-the-art computer bioinformatic analyses with DNA sequence determination and protein structure determination.

Bioinformatics encompasses the study of genes and their function. To make sense of the vast array of information present in the genome of an organism requires high speed computing technology and management of vast databases. CBI has developed its own proprietary bioinformatics process that has been successfully applied to creation of new molecular diagnostic assays for the presence of individual Herpes viruses. CBI considers itself a leader in the area of comparative genomics based on its unique bioinformatic approaches and anticipates that expansion of its computing capabilities in this area with bayMountain's input will enable it to expand its client base while facilitating its own discovery efforts. Leading IT analysts predict significant growth for servers, storage and related IT services in the bioscience market. Some forecasts indicate that this market will grow from less than $2.5 billion in 2000 to nearly $12 billion by 2004.

Commonwealth Biotechnologies, Inc. (CBI) sees its alliance with bayMountain as a natural extension of its own bioinformatics and genomics platforms. "This is an outstanding opportunity for us to partner with a company whose expertise is in hosting, managing and analyzing very complex and data-intensive applications. By focusing on relatively small genomes, such as pathogenic bacteria, we see a rapid commercialization of new and powerful software. CBI's expertise is in doing the underlying science needed to create the data. bayMountain's expertise is in is in providing the skills and tools necessary to manage and mine that data," said Dr. Robert B. Harris, President of CBI.

Added Tom Reynolds, Senior VP, CBI, "This alliance brings together two Richmond, VA companies who approach bioinformatics from two very different perspectives. Genomics is a key area of growth for the DNA services at CBI. CBI is in the midst of two government funded genome projects and is bidding for several more. Having the ability to do the science and to manage the database which is created will make us all the more attractive in competing for these projects."

"Together, we can help simplify the process of mining the data in a genome database," said Dr. Mark Wensell, president and founder of bayMountain. "By making it easier to manage and analyze this very valuable DNA information, we can help scientists and others realize the benefits of this bioinformatics and genomics research much more quickly."

bayMountain, is a privately held company located at 501 E. Franklin St., Richmond, VA, 23219 (804 644 5109). The Company was founded in 1999 by scientists with more than 25 years experience in supercomputing and cluster technology. bayMountain is a leading provider of web and application infrastructure services, for mid-size companies with enterprise-level needs. bayMountain offers one source for the complete infrastructure value chain and specializes in creating custom configurations for individual customer needs. Visit bayMountain on the web at www.baymountain.com.

May 8, 2001

Commonwealth Biotechnologies, Inc. Settles Patent Dispute

Commonwealth Biotechnologies, Inc., (Nasdaq: CBTE - news) today announced that it has settled its pending patent dispute with Applied Biosystems, and that both parties have agreed to dismiss their claims against the other party.

Under the settlement agreement, Applied Biosystems will receive a license to use products utilizing CBI's patented DNA lane tracking technology for automated DNA sequencing. Other terms of the settlement agreement are confidential.

``We are very pleased to have reached this agreement with Applied Biosystems,'' said Thomas R. Reynolds, Senior Vice President of CBI and one of the inventors. ``To have a company like Applied Biosystems marketing this technology is a strong statement as to its value as a DNA sequencing tool."

In March, Commonwealth announced record revenues and growth for Fiscal Year 2000. The company reported that its revenues were up 70% from $2,565,132 during 1999 to $4,366,959 for 2000. Both the percentages of revenue growth and total revenues are records for the company.

March 20, 2001

Commonwealth Biotechnologies, Inc. Announces Record Revenues and Growth

Commonwealth Biotechnologies, Inc., (NASDAQ Small Cap Exchange; CBTE) today reported that it achieved record revenues and growth for Fiscal Year 2000. The company reported that its revenues were up 70% from $2,565,132 during 1999 to $4,366,959 for 2000. Both the percentages of revenue growth and total revenues are records for the company. Net loss was $921,916 or $.51 (basic and diluted) per share compared to a net loss for FY 1999 of $2,091,194 or $1.27 (basic and diluted) per share.

This follows a 60% growth in revenue for 1999 compared to 1998, where revenues reached $2,565,132 and $1,604,267, respectively.

"While we are obviously pleased with the recent performance of the company, we believe the better news is that our business model of offering a broad technology base and complete project support for our clients continues to perform well," said Robert B. Harris, President of Commonwealth Biotechnologies, Inc. (CBI). "Our current distribution of 72% of our business in larger contracts of longer duration is up from 57% of just a year ago. In addition, our client base continues to grow with 931 work orders processed in 2000. Of the 931 work orders, 334 (36%) were from first time clients," he added.

"Development of long-term contracts continues to lead the way in revenue growth," said Harris. "Company management is committed to expanding this revenue stream not only by conventional fee-for-service contracts but also by partnering in the development of unique proprietary technologies. These new technology platforms will then be offered as a service to generate a continuing revenue stream beyond the life of the project itself." he added.

In addition, the company has added a new Drug Development Division to the company's capabilities. This Division will offer complete strategy and management support for moving a client's new product or device through the national and international regulatory processes.

"By adding this Division, the company is now able to offer a complete continuum of services to our clients, essentially the ability to take their projects from "Concept to Clinic". This should extend the life of our long-term client relationships beyond the Research and Development phase through the final pre-market approval phase," said Richard J. Freer, Chairman of CBI.

February 8, 2001

Commonwealth Biotechnologies and november AG Sign Joint Venture to Expand Applications for november AG's Electrohybridization Technology

Companies to Develop Methods of Detecting Microbes in Environmental Samples

Commonwealth Biotechnologies, Inc. (CBI) (Nasdaq: CBTE - news) announced that it has signed an R&D joint venture agreement with november AG of Erlangen, Germany. Using november AG's electrohybridization technology, the two companies will collaborate to develop and commercialize new methods to detect microbial contamination in a variety of matrices, including water or soil. Commonwealth Biotechnologies' announcement to expand in this area of environmental analysis signifies that it will continue to broaden its technology platform.

Developed by november AG's Molecular Diagnoses business unit, electrohybridization is a bio-electrochemical technique that makes use of conductivity and affinity properties of biomolecules, such as DNA or proteins. The application of this new principle accelerates all stages of laboratory testing from sample preparation to detection leading to less expensive, faster, and more sensitive analyses.

In another important field of collaboration, CBI already synthesizes specific peptides for november AG's bio-labeling project, the forgery safe biological eartag. This is part of a quality securing and surveillance system in which farm animals are labeled to warrant reliable food properties. Ensuring the peptide supply will speed up the commercialization of the biological eartag.

Richard J. Freer, Chairman of CBI, commented, ``These two active collaborations are only the first in, what we at CBI believe, will be a series of very productive cooperations between CBI and november AG. In addition, CBI will establish an office in Erlangen, from which we can begin to pro-actively access the European market for our services.''

``There are multiple synergies between CBI and november AG'', said Wolf M. Bertling, CEO of november AG. ``This will strengthen our strategic partnership with the NASDAQ-listed US-company. Through CBI, we have access to the US markets. Another advantage is that -- apart from its contract research business -- CBI has established an Research and Development unit and has significant expertise in the field of hematology/hemostasis. This complements november AG's anticoagulation pipeline products and will facilitate joint clinical studies in USA and Europe.''

Commonwealth Biotechnologies, Inc. (Nasdaq: CBTE - news) was founded as a contract research organization and offers fully integrated DNA/RNA, as well as protein/peptide-technology for the biotech industry.

Recently, CBI acquired the Drug Development Group of SRA Life Sciences, Inc. and now offers full support for moving a client's product through the regulatory approvals required for market launch.

Founded in 1996, november AG focuses on the development of products and platform technologies in the field of molecular medicine. The company is listed on the Neuer Markt, Frankfurt (code: NBX). Their Molecular Therapy business unit develops drug-delivery-systems that open up new ways for the therapy of serious diseases.

Timely, cost-effective, and safe methods for diagnosis at the point of care are being realized in the Molecular Diagnosis unit. The analytical methods developed for this application will be equally useful in the non- biological field, e.g. for forgery-proof product and brand protection.

January 22, 2001

Commonwealth Biotechnologies, Inc. Announces Appointment of New Directors.

Commonwealth Biotechnologies, Inc. (NASDAQ small cap exchange: CBTE) today announced the appointment of three new members to its Board of Directors. The company also announced that former-governor, now Senator George Allen of Virginia has resigned his seat on the Board.

The newly appointed members of the Board are Mr. Everette G. ("Buddy") Allen, Jr., Chairman and senior partner in the law firm of Hirschler, Fleischer, Weinberg, Cox and Allen, PC, in Richmond,VA; Dr. Donald McAfee, Chairman and Chief Technical Officer of Discovery Therapeutics, Inc., Richmond, VA: and Mr. Samuel P. Sears, Jr., a nationally recognized attorney who specializes in management and negotiation of mergers and acquisitions.

"We are very pleased to have been able to attract such high quality new members to the Board. They will each bring a unique perspective which, I believe, complements the continuing employee and non-employee members of the Board." Said Richard J. Freer, Ph.D., Chairman of CBI.

They will join the continuing Non-employee Board Members, Dr. Raymond Cypess, President and CEO of ATCC, Inc., Manassas, VA, and Mr. L. McCarthy Downs, III, Chairman, Anderson and Strudwick, Inc, Richmond, VA, and the three Employee Board Members, Dr. Richard J. Freer, Chairman, Dr. Robert B. Harris, President , and Mr. Thomas R. Reynolds, Senior Vice President.

Commenting on the resignation of Senator Allen, Freer said, "Due to his new responsibilities, Senator Allen would have a conflict of interest were he to continue to serve on the Board. His insights and positive support will be sorely missed. We, of course, wish him much success in Washington and look forward to his pro-business agenda reaping benefits for CBI, the Commonwealth, and the Nation."

January 16, 2001

Commonwealth Biotechnologies, Inc. Acquires Drug Development Contracts From SRA Life Sciences, Inc.

January 16, 2001

Company News

Ms. Sandra J. Hecker, RAC, joins CBI as Director of Drug Development. Ms. Hecker has more than 20 years experience with basic and medical research, medical writing, and drug development, including strategizing for, writing, and editing marketing applications (drug, device, and biologic) for U.S. and international regulatory agencies. Prior to joining CBI, she was Director, Regulatory Affairs, at SRA-Life Sciences, Inc., a boutique drug development company supporting the biotech industry.

Other former SRA employee who join Hecker as new CBI employees include Mr. Ogden Copeland, Project Coordinator; Ms. Claudia Fitch and Mr. Tyrone Little, both Documentation Specialists; and Ms. Gail Law, Administrative Assistant.

For other news, see:

• Current News (2002-2003)
• News from 2000
• News from 1999

Updated October 1, 2001