GSD Goldshield Grp

RNS Number:0974D
Goldshield Group PLC
29 October 2002


For Immediate Release                                          29th October 2002



              Goldshield Group plc ("Goldshield" or the "Company")



                           Update on Antigen Business



The Board of Goldshield announces today that a petition has been lodged with the
High Court in Dublin (the "High Court") requesting that Miza Ireland Limited and
each of its Irish subsidiaries (the "Miza Group") be placed into examinership in
accordance with Irish company law to provide the Miza Group with protection from
its creditors and to enable a reorganisation of the Miza Group's affairs to take
place.



The examinership petition was lodged by two creditors of the Miza Group with the
support of Goldshield which has indicated that it is willing to acquire the Miza
Group if acceptable terms and conditions can be agreed with any examiner that
may be subsequently appointed by the High Court.  The Miza Group is the primary
source of supply for products sold by the Goldshield Group's Antigen sterile
pharmaceutical injectibles business (the "Antigen Business").



At today's preliminary directions hearing, the High Court appointed an interim
examiner to the Miza Group and set the date of the full hearing of the petition
for 11 November 2002. Goldshield will make a further announcement following the
outcome of this hearing.  Pending this full hearing, the Miza Group will
continue to manufacture and supply products to the Antigen Business.



The Antigen Business was acquired by a wholly owned subsidiary of Goldshield on
28 November 2001 by virtue of its purchase of Antigen International Limited,
Antigen Overseas Limited and Anpharm Limited together with the know-how,
trademarks, trading styles, sales, distribution and marketing rights of Mitek
Holdings Limited (formerly known as Antigen Holdings Limited and a member of the
Miza Group).



                                    - ENDS -


For Further Information, Please Contact:
Goldshield Group  PLC                                  Tel: +44 (0) 20 8649 8500
Ajit Patel, Executive Chairman
Rakesh Patel, Finance Director

Buchanan Communications                                Tel: +44 (0) 20 7466 5000
Nicola How / Louise Bolton                      Nicola How Mobile: 07956 597 099



Notes to editors:

Goldshield Group plc is a growing and profitable, marketing-led, British
pharmaceutical company based in Croydon, Surrey, it was founded in 1990, to sell
healthcare and pharmaceutical products internationally.  In June 1998 Group
floated on the London Stock Exchange and currently has a market capitalisation
of around #130 million.


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

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