Amersham Biosciences.

Amersham Biosciences reported a 4.8% decline in second quarter sales to 168.0 million [pounds sterling] ($271.0 million = 0.62 [pounds sterling]= $1) from sales of 176.5 million [pounds sterling] ($255.8 million = 0.69 [pounds sterling] = $1) in the second quarter of 2002. In US dollars, sales

Amersham Biosciences' Protein Separations business reported growth of 7% to 71.0 million [pounds sterling] ($114.5 million = 0.62 [pounds sterling] = $1). For the first half of the year, Protein Separation sales came in slightly below expectations, up 3% to 133 million [pounds sterling] ($214.5 million = 0.62 [pounds sterling] = $1), with operating profit down 10.4% to 43 [pounds sterling] million ($69.4 million = 0.62 [pounds sterling] = $1), but flat on a constant currency basis. Within this product segment in the first half, Bioprocess sales grew 10%, excluding specialty products, and Protein Separation sales to North America rose 14%, while Laboratory Separation sales to the US increased 6%. Second quarter sales for the segment were affected by slower academic sales for Laboratory Separation products and by the European economic situation.

Discovery System sales grew 6% to 97.0 million [pounds sterling] ($156.5 million = 0.62 [pounds sterling] = $1) due to growth in Proteomics and Bioassays compensating for the decline in the genomics market. First-half sales fell 5.0% to 192 million [pounds sterling] ($309.7 million = 0.62 [pounds sterling] = $1), excluding 12 million [pounds sterling] ($19.4 million = 0.62 [pounds sterling] = $1) in discontinued product sales and including 1% growth from acquisitions, but were up 4% on a constant currency basis. First-half operating loss fell to 10 million [pounds sterling] ($16.1 million = 0.62 [pounds sterling] = $1) flora 12 million [pounds sterling] ($17.4 million = 0.69 [pounds sterling] = $1) as existing businesses recorded losses of 3 million [pounds sterling] ($4.8 million = 0.62 [pounds sterling] = $1) and the CodeLink microarray line recorded 7 [pounds sterling] million ($11.3 million = 0.62 [pounds sterling] = $1) in losses. On a constant currency basis, operating profit rose 4%. Sales to Japan and other international markets were strong, but Europe remained weak. Going forward, the Discovery Systems division intends to focus on protein analysis and cellular bioassays.

The restructuring program recorded 7 million [pounds sterling] ($11.3 million = 0.62 [pounds sterling] = $1) in savings in the first half of 2003, with a target of 16 million [pounds sterling] In savings for the full year. Among the actions taken Were headcount reductions and the consolidation of research, development activities and manufacturing.

Second Quarter Ended June 30

([pounds sterling]    2003    2002       %
     GBP M)             2Q      2Q     Chg.

Rev.                 168.0   175.0    -4.0%
Op. Profit            17.0    19.8   -14.1%