CALCITECH Files Three Months Statements.

Business Editors

HAMILTON, Bermuda--(BUSINESS WIRE)--Aug. 1, 2000

CALCITECH LTD. (OTC BB: CLKTF; CDNX: CLK). announces it has filed its Unaudited Consolidated Report and Financial Statements for the three months ended 31st May 2000. The accounts for this period show a net loss of $584,000 compared with the same period to 31st May 1999 of $747,000, a reduction of $163,000.

Research and development costs have been reduced to $346,000 as compared with $458,000 in the same period of the previous year. This is mainly due to the cessation of the technical contract in the north west of England and a move of the process plant to the site of a potential joint venture partner in Norway. General and administrative costs are also down to $140,000 from $182,000. This is due to a general reduction of expenses, in particular travel.

An announcement on the 25th February reported conversion of the 7.5% redeemable note. The benefit of the interest on this note ceasing can be seen this quarter with a net reduction of $61,000 over the same quarter last year due to the cancellation of redeemable notes, with a charge resulting from the increase of the convertible working capital credit agreement.

During the period under review CalciTech has continued working in Norway with "Black waste lime" with a view to completing a joint venture agreement. In addition, the principle constituent parts of our project in Leuna, Germany have been concluded and procedures to apply for a 47% grant have been undertaken. Other projects have been advanced at the same time and are expected to lead to further announcements in due course. A revised business plan was developed during this period and this has now been adopted for financial planning purposes.

As announced in a news release dated 25th July 2000, the Company is now called CalciTech Ltd. to better reflect the Company's focus on specialty minerals and in particular the production and sale of Precipitated Calcium Carbonate (PCC). The Company is further pleased to announce that CalciTech's trading symbol on the NASDAQ OTC Bulletin Board is now CLKTF.

CalciTech continues to focus on the development of its environmentally friendly technology for the production of PCC, which has potential applications in a wide range of markets.

For more information, contact Claudia Homburg, Investor Relations Officer; CalciTech Ltd., BP 31, 13 chemin du Levant, 01211 Ferney- Voltaire, France. Phone (from U.S.) 011-33-450-428 095. Fax (from U.S.) 011-33-450-405 961.

This press release contains forward-looking statements which are subject to a number of contingencies and uncertainties, including but not limited to, market acceptance for CalciTech products, manufacturing of CalciTech products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could change. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. CalciTech undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.

No Stock Exchange has reviewed or accepted responsibility for the adequacy or accuracy of this news release.