GYG Gyg Plc

RNS Number:3595G
Gyrus Group PLC
14 December 2004

14 December, 2004

                                  Gyrus Group PLC

                   Gyrus forms "spin out" company to address
                            cosmetic surgery market

Gyrus Group PLC (GYG.L) announces the formation of Rhytec Limited ("Rhytec"), an
independently financed company set up by Dr Mark Goble, a founder and
non-executive director of Gyrus, to commercialise certain technologies in the
cosmetic and dermatological surgery markets.

Rhytec has acquired Gyrus' Plasma Skin Regeneration (PSR3) technology and is set
to launch its first product in the cosmetic and dermatological surgery market
during 2005. Venture capital finance has been provided to Rhytec by Advent
Venture Partners and Scottish Equity Partners.  Dr Mark Goble will be CEO of
Rhytec.  He will remain as a non-executive director of Gyrus and will also
retain a part-time consultancy role to Gyrus.  Two other Gyrus employees will
transfer to Rhytec.

Gyrus will retain an equity interest of 19.7% in Rhytec. As part of the
transaction, Gyrus has assigned its PSR3 technology rights to Rhytec in
consideration for a small initial payment and royalties on future sales of PSR3
products. In addition, Gyrus' Partnered Technologies Division, based in Cardiff,
will continue to develop the commercial PSR3 product under a contract with
Rhytec and will manufacture the PSR3 generator and hand pieces for a minimum
period of five years on normal commercial terms.

Brian Steer, Executive Chairman of Gyrus, said:

"Through the formation of Rhytec, Gyrus gains access to the future potential
commercial success of the business without the requirement to commit capital to
a technology development and marketing programme which lies outside Gyrus' core
area of focus."

Enquiries:

Gyrus Group PLC                                         01189 219 750
Brian Steer, Chairman
Simon Shaw, CFO

Financial Dynamics                                      0207 831 3113
Ben Atwell/Lucy Briggs






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