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Cistron Completes Merger with Celltech.

PARSIPPANY, N.J., Nov. 6 /PRNewswire/ --

Celltech Group plc (NYSE: CLL; LSE: CCH), a UK-based biopharmaceutical company, and Cistron Biotechnology Inc (OTC: CIST) announced today the completion of their merger. The transaction was completed following approval by Cistron shareholders at a special meeting on November 2.

Former Cistron shareholders will receive approximately .0202 of a Celltech American Depositary Share in exchange for each outstanding share of Cistron common stock, subject to adjustment for Cistron's receivables due but not yet collected by December 31, 2000, if any.

Cistron will no longer be traded publicly. Celltech's ordinary shares are traded on the London Stock Exchange under the symbol "CCH" and its American Depositary Shares are traded on the New York Stock Exchange under the symbol "CLL."

Celltech's exchange agent will issue to Former Cistron shareholders letters of transmittal and instructions to exchange their Cistron shares into American Depositary Shares of Celltech soon after today's announcement. Former Cistron shareholders requesting additional information should contact Richard Bungay of Celltech at +44-1753-534-655.

Celltech Group, based in Slough, Berkshire in the UK, is a major European-based biopharmaceutical company with substantial operations in the US. The group undertakes drug discovery, development and international marketing. Celltech is listed on both the New York and London Stock Exchanges.

Cistron, headquartered in Parsippany, NJ, was founded in 1984. It is a biotechnology company that uses recombinant DNA and immunological techniques to explore certain cytokines and antibodies that may have therapeutic or diagnostic applications.
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Publication:PR Newswire
Geographic Code:1USA
Date:Nov 6, 2000
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