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BELMAC COMPLETES FRENCH SALE TO A SUBSIDIARY OF MEDEVA PLC FOR $2.5 MILLION

 TAMPA, Fla., Sept. 23 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) announced today that it has sold the rights specifically to the SACHET formulation of Biolid(R), Belmac's patented advanced form of erythromycin in its powder form, for marketing in France and its territories, to Evans Medical, S.A., a subsidiary of Medeva PLC, for $2.5 million. Medeva PLC, based in England, is a major international pharmaceutical company with over $200 million in sales in 1992.
 Chimos, S.A., a French subsidiary of Belmac, will continue to be the bulk chemical supplier of Biolid(R) to Evans Medical in France.
 "We are very pleased with this agreement with Evans Medical which allows Chimos to manufacture the bulk chemical for the SACHET formulation of Biolid(R) for marketing in France by Evans and will further enhance our profitability," commented Donald Boultbee, Belmac's president and chief executive officer.
 In other news, Michael Price, vice president of Finance and treasurer, announced that as a result of Belmac's improved financial condition, the company has exercised its right not to proceed with the previously announced proposed sale of an aggregate of 3 million shares of its common stock to DelRay Properties, Inc. and ENG Energy, Inc., but has instead sold 595,000 restricted shares to other parties on substantially the same terms.
 Belmac Corporation is an international pharmaceutical and health care company based in Tampa, Fla.
 -0- 9/23/93
 /CONTACT: Jill Figueredo or R. Stewart of Belmac Corporation, 813-286-4401/
 (BLM)


CO: Belmac Corporation; Evans Medical, S.A. ST: Florida IN: MTC SU:

RK-AW -- FL007 -- 5116 09/23/93 10:33 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
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