Argenta Discovery Ltd Announces New Research Agreement with AstraZeneca

Harlow (UK) 8 March 2004 - Argenta Discovery Ltd today announced that it has entered into a three-year collaboration with AstraZeneca. Argenta will provide discovery research capabilities to AstraZeneca. The first project using Argenta's medicinal chemistry, biology and analytical services is for the Respiratory and Inflammation Disease group, based in Lund, Sweden, Loughborough and Alderley Park UK.

Commenting on the agreement, Dr Anthony Baxter, Argenta's CEO, said, "We are pleased to enter into a drug discovery partnership with one of the world's leading pharmaceutical companies. This new agreement involves a
substantial commitment from AstraZeneca, and demonstrates Argenta's research ability in projects integrating chemistry and biology."

Dr John Dixon, Vice President of Drug Discovery, AstraZeneca R&D Charnwood, added, "We chose to work with Argenta because of their reputation and ability in modern lead generation methodologies. We feel Argenta's culture is based on complementary values and practices and the experience and ingenuity of their scientists will bring great value to each project. We are very positive about our new collaboration and look forward to a productive relationship."

Notes to Editors:

About Argenta Discovery Ltd

Argenta Discovery is an independent discovery company providing peer quality contract services in medicinal chemistry and biochemistry to pharmaceutical companies of all sizes. Argenta draws on its industry experienced scientists to deliver rapid hit finding capabilities together with the ability to convert and optimise hits and leads into validated,
patentable chemical lead series and potential drug candidates. The company has previously worked with or is currently working with Aventis, Corcept, Pharmagene, Millennium, Adolor, De Novo, GlaxoSmithKline, Lundbeck,
Amedis, Teijin Pharmaceuticals and other undisclosed partners. Argenta also actively works on its own research projects and can source targets via a unique relationship with London's Imperial College School of Medicine (Europe's largest medical school). Patentable lead series resulting from in-house programmes are available for sale or licence.

Argenta operates in new, state of the art laboratories in Harlow, UK, and is served by nearby London Stansted Airport. The company also has a US subsidiary, Argenta Discovery Inc., and a commercial representation in Japan, reflecting its global client base. Its scientific skills include
computer-aided drug design, medicinal, parallel and combinatorial chemistry, high throughput analytical chemistry, molecular biology, biochemical assay development, automated molecular and cellular screening
and in vitro ADMET screening. For further information please see www.argentadiscovery.com or email info@argentadiscovery.com

About AstraZeneca

AstraZeneca is a major international healthcare business engaged in the research, development, manufacture and marketing of prescription pharmaceuticals and the supply of healthcare services. It is one of the top five pharmaceutical companies in the world with healthcare sales of over $18.8 billion and leading positions in sales of gastrointestinal, oncology, cardiovascular, neuroscience and respiratory products. AstraZeneca is listed in the Dow Jones Sustainability Index (Global and European) as well as the FTSE4Good Index. Worldwide, AstraZeneca has six major research and development sites, four discovery facilities and a clinical research site employing more than 11,000 people in seven countries including Canada, France, India, Japan,
Sweden, United Kingdom and the United States.

For further information, please contact:

Argenta Discovery Ltd
Richard Lingard
Vice-President of Business Development
Tel: +44 (0) 1279 645645
richard.lingard@argentadiscovery.com

De Facto Communications
Richard Anderson and Maria Payne
Tel: +44 (0)20 7496 3300
r.anderson@defacto.com
m.payne@defacto.com