Commonwealth Biotechnologies, Inc. Signs New Contracts; Company is Recognized for Its Comprehensive Research Platforms.

Business Editors/Health & Medical Writers

BIOWIRE2K

RICHMOND, Va.--(BW HealthWire)--May 21, 2002

Commonwealth Biotechnologies, Inc. (NASDAQ: CBTE), a life sciences contract research organization, today announced that it has signed additional contracts spanning diverse platform technology areas.

CBI was notified by the State of Maryland Administrative Office of the Courts that it has been awarded a one year, renewable contract for performance of paternity test analyses for all persons mandated for testing by the Baltimore Circuit Court, Baltimore City.

In the initial year of this contract, CBI is expected to conduct analyses on more than 3,000 individual test samples, which will bring approximately $145,500 in gross revenues to the Company. The contract is renewable for two additional one year extension periods.

"CBI's paternity testing business has been increasing steadily as we gain market reputation and this contract is recognition of our commitment to quality," said Dr. Douglas Oliveri, Director of Human Genetics at CBI. "It has been a growth area for the Company for the last two years, and CBI's ability to turn the results around in a rapid and cost effective manner has enabled us to meet the needs of clients requiring reports for legal proceedings or simply for peace of mind. CBI also works with international clients, to help meet the requirements of admission to the United States. We are particularly pleased with this new contract which demonstrates CBI's ability to compete for public sector monies."

CBI was also notified of an another new contract in the general arena of biodefense related work. This new contract is for classified work on behalf of a government sponsor, and adds an additional $250,000 to CBI's array of biodefense related research contracts. The initial term of the new contract is one year commencing immediately and is renewable at the anniversary date. Currently, biodefense work is projected to bring over $2.5 million in gross revenues into the Company on a yearly basis.

"The Sponsor of this work has once again recognized CBI as being in the forefront of biodefense research," said Tom Reynolds, Executive Vice President and Study Director for the new contract. "This contract was awarded because of CBI's considerable knowledge and past contributions in pathogen analysis."

"CBI is well positioned to be the prime contractor for our clients who require our unique capabilities," commented Robert B. Harris, President and CEO. "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."

Founded in 1992, CBI is located at 601 Biotech Drive, Richmond, VA 23235 (1-800-735-9224). The company occupied its 32,000 square foot facility in December 1998 and currently employs a staff of about 40. CBI has provided comprehensive research and development services to more than 2,500 private, government, and academic customers in the global biotechnology industry. For more information, visit CBI on the web at www.cbi-biotech.com.

Any statements contained in this release 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. Readers are cautioned not to place undo reliance on these forward-looking statements, which speak only as the date hereof. 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. The companies 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.