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04 July 2006

Proposed Issue of Equity and Directors’ Share Dealing

Futura Medical plc (AIM: FUM), the AIM-quoted pharmaceutical and medical device group that develops innovative products for sexual health, is pleased to announce that it intends to raise up to £2.5 million, after costs, by way of a placing (“the Placing”), to be carried out jointly by Canaccord Adams Limited and Collins Stewart Limited, of up to 3,400,000 new ordinary shares at 78 pence per share (“the Placing Shares”). The money raised from this Placing will be used for the clinical development program of MED2002 and for new product evaluation.

The Placing is conditional on execution of a placing agreement between the Company, Canaccord Adams Limited and Collins Stewart Limited and admission of the Placing Shares to AIM. In addition in respect of 966,000 of the Placing Shares, the Company requires shareholder authority which is the subject of Resolution 4 to be proposed at the Company's Annual General Meeting to be held on 6 July 2006. If Resolution 4 is not passed at the annual general meeting, the Company will use its existing shareholder allotment authorities to allot up to 2,434,000 of the Placing Shares.

It is intended that application will be made for the Placing Shares to be admitted to trading on AIM later today. It is expected that, conditional on the matters set out above, admission to trading and dealings in the Placing Shares will commence at 8.00am on or around 10 July 2006.

In addition, Futura announces that the following Directors intend, subject to the conditions set out below, to exercise options over 2,125,000 ordinary shares of 0.2 pence each in the capital of Futura (“Ordinary Shares”) in aggregate, and subsequently to sell on Admission at a price of 78 pence per share, 1,313,759 of the Ordinary Shares allotted in aggregate. In addition, it is the intention of certain staff to exercise and sell options over 110,000 Ordinary Shares in aggregate, also at 78 pence per share. Therefore, the total number of shares being sold on behalf of option holders will amount to 1,423,759 Ordinary Shares (“Sale Shares”). These option exercises described above are conditional upon completion of the placing of 2,434,000 of the Placing Shares and there being sufficient buyers for the Sale Shares. Full details of the proposed arrangements are set out in the table below. The Directors have no current intention of selling any further Ordinary Shares. The exercise period of these options would have expired on 31 January 2007.

• JH Barder's holding includes shares beneficially owned and held by connected parties.
• Each Director (other than DB Davies) intends to sell sufficient shares to pay only the costs of exercise and all relevant tax and national insurance liabilities retaining the balance therefore not realising a cash profit.
• In addition DB Davies has sold sufficient shares to realise a cash profit of £30,000.
• The total proceeds to Futura from the intended exercise of the Directors and staff options will amount to £831,250. Together with the net proceeds of the Placing, Futura will receive £3.35 million.

For further details please visit www.futuramedical.co.uk

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