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January 23, 2003 Germantown, WI USA: Cambridge Major Laboratories and BP Chemicals announced today a cooperative agreement for the development and marketing of Oxazole Derivatives to the pharmaceutical and fine chemical industries. The alliance combines BP's technology for purification of Oxazole, with Cambridge Major's expertise in heterocyclic chemistry, to provide rapid scale up of a wide variety of new Oxazole Derivatives previously unavailable for use in biologically active compounds.

Oxazole and its derivatives have been previously unavailable in quantities other than research samples. The terms of the agreement provide for exploratory development, scale up, and manufacturing of Oxazole Derivatives. Oxazole market development will continue to be managed by BP while market development on Oxazole Derivatives will be managed by Cambridge Major.

"Oxazole is an extremely important intermediate for the pharmaceutical and fine chemical industries", said Dr. Michael W. Major, President and CEO of Cambridge Major. "Now that Oxazole will be available in larger quantities through BP, we see a real opportunity in the industry for Oxazole Derivatives that can be directly applied in the synthesis of new compounds, not only at research scale, but to satisfy development and commercialization of Biologically Active Compounds including Active Pharmaceutical Ingredients (API’s). I can envisage a huge number of new API’s utilizing this technology, and development of these molecules fits perfectly into our expertise in nitrogen-containing heterocycles and organometallic chemistry."

"We have made significant strides over the past year in developing a proprietary technology to isolate and purify oxazole", adds Rick Mingione, Specialties Business Manager at BP Chemicals. "The partnership with Cambridge Major brings considerable technical skills and knowledge of the pharmaceutical industry to bear in helping develop applications for compounds based on this newly available building block chemical."

BP is one of the world's largest petroleum and petrochemicals companies with 2001 chemical production in excess of 22 million metric tons. Additional information about BP is available at www.bp.com. For further information about Oxazole, please visit: www.bpchemicals.com.

Oxazole and its derivatives have been previously unavailable in quantities other than research samples. The terms of the agreement provide for exploratory development, scale up, and manufacturing of Oxazole Derivatives. Oxazole market development will continue to be managed by BP while market development on Oxazole Derivatives will be managed by Cambridge Major.

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