IP2IPO announces the sale of Nanosciences shares for £762,430

07 Nov 2005

IP2IPO Group plc (AIM: IPO) ("IP2IPO"), the intellectual property commercialisation company, is pleased to announce completion of the acquisition of Toumaz Technology Limited ("Toumaz") (in which IP2IPO had a 5.3 per cent. interest) by Nanoscience Inc (AIM: NAN) ("Nanoscience"). IP2IPO received 5,098,167 ordinary shares of 0.25p each in Nanoscience (Nanoscience Shares), representing 2.8 per cent. of Nanoscience's current issued share capital as consideration for its holding in Toumaz. IP2IPO has sold 5,098,167 Nanoscience shares to institutional and founder shareholders receiving net proceeds of £762,430. Following this notification IP2IPO holds no further Nanoscience shares.

The press release issued by Nanoscience on Wednesday 2 November follows below.

Immediate release: Wednesday 2 November 2005

Nanoscience Inc. ('Nanoscience' or 'the Company') Result of EGM

The Board of Nanoscience is pleased to announce that at the Extraordinary General Meeting of the Company held this morning, all of the resolutions proposed in the Notice of EGM, details of which were set out in the circular to shareholders dated 10 October 2005, were duly passed. The resolutions were in relation to, inter alia, the acquisition of Toumaz Technology Limited through the issue of 96,337,210 new Acquisition Shares at a price of 18.4p per share and to authorise the issue of the Acquisition Shares and the 47,333,333 new Placing Shares at a price of 15p per share pursuant to the Placing which has raised £7.1 million before expenses. The Acquisition and Placing are conditional on Admission. Application has been made to the London Stock Exchange for the re-admission of the 40,100,000 Existing Ordinary Shares, and the admission of the Acquisition Shares and Placing Shares to trading on AIM. It is expected that Admission will become effective and that dealings in the Existing Ordinary Shares, Acquisition Shares and Placing Shares, representing in aggregate 183,770,543 ordinary shares, will commence on 3 November 2005. Completion of the Acquisition is due to take place on 3 November 2005.

Professor Christofer Toumazou, aged 44, will be appointed as an additional non-executive director of the Company with effect from completion of the Acquisition. Other than as set out below, there is no further information to be disclosed under paragraph (g) of Schedule 2 of the AIM Rules. Chris Toumazou's past and current directorships within the last five years are: Current Bio-Life Technology Limited Bio-Nano Sensium Technologies Limited Cardioassist Limited DNA Electronics Limited LTP Electronics Limited Toumaz Technology Limited Past Lambda Technology Limited Oxtek Limited Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the circular to shareholders of the Company dated 10 October 2005.

For more information please contact:

IP2IPO 020 7489 5200
David Norwood, Chief Executive Officer  
Buchanan Communications 020 7466 5000
Tim Anderson, Mark Court, Mary-Jane Johnson