The Binding Site Announces Trading Update for Year Ended September 30th 2008

Birmingham, England, November 11 (ots/PRNewswire) -

- Revenues Expected to be up 26%, Freelite(TM) Sales up More Than
50%

The Binding Site Limited ("The Binding Site" or the "Company"), a
privately-owned specialist UK diagnostics company, today announces a
trading update for the year ended 30th September 2008. The full
audited results will be announced in early December 2008.

Revenues are expected to be GBP38.9 million, representing sales
growth of approximately 26% in comparison to the previous financial
year. The Company has seen strong growth across all its major
markets, with approximately 25% growth in revenues in the U.S. and
similar growth rates seen in Europe and emerging markets.

The progress has been driven by continued strong demand for
Freelite(TM), which is used for the diagnosis and monitoring of
multiple myeloma, a cancer of cells in the bone marrow. Sales of
Freelite are expected to be up by around 52% at GBP12.6 million in
the year to the end of September, underlining the increasing
acceptance of the product.

Autoimmune product sales increased approximately 22% to GBP13.6
million year on year, strongly outperforming their market as The
Binding Site gained market share and increased its level of new
business. The performance was buoyed by the solid growth of newly
introduced products and a rise in the base of installed instruments.
Sales from the Company's core products business have increased by
around 10% to GBP12.7 million in the period, supported by continuing
technical improvements and promotional activities.

Commenting on today's announcement, Paul Duncan, Chief
Executive Officer of The Binding Site, said:

"This has been an excellent year for The Binding Site and we
expect the considerable growth in revenues to be reflected in a
strong increase in EBITDA figures. Freelite continues to gain market
recognition, with more than 100 scientific publications appearing
during the last 12 months. With current sales of over GBP12 million
and an anticipated continued annual growth rate of more than 50% for
the next few years, the prospects for this novel product are now
firmly established.

"We expect the Company's current strong performance to continue
into 2009 and are confident that the product portfolio will continue
to deliver exceptional results. In addition, we are investing heavily
in our pipeline to further drive future performance and deliver long
term growth."

Notes to Editors:

About The Binding Site

The Binding Site Ltd. is a British based company specialising in
the research, development and production of immunodiagnostic kits and
reagents. The Binding Site manufactures a wide range of high quality
and innovative products used in clinical laboratories world-wide. The
business is divided into three main areas:-

Freelite(TM), a novel and highly significant assay increasingly
used for the diagnosis and monitoring of multiple myeloma (MM), a
cancer of cells in the bone marrow. MM is the second most common
blood cancer after non-Hodgkin's lymphoma. Considered almost
untreatable only 20 years ago, huge strides have been made in the
successful treatment of multiple myeloma with new drugs becoming
available and new treatment regimes being assessed. Freelite has been
used as a sensitive marker for the efficacy of some of these newer
treatments and has helped clinicians gain a clear understanding of
how some of these drugs are benefiting their patients. Furthermore,
with numerous different therapies now available, treatment decisions
which may have taken weeks or months can now be made in days thanks
to the availability of sensitive and reliable results using Freelite.
National and International guidelines for the diagnosis and treatment
of multiple myeloma and associated cancers now include Freelite
results as a requirement for monitoring the treatment of patients.
Numerous clinical trials are underway to look at the use of Freelite
in a range of other malignancies as well as how the results may
radically change the management of complications such as renal
disease in cancer patients. There are currently approximately 1.5
million Freelite tests performed per annum with the number of
analyses increasing at a rate of approx. 50% p.a.

The diagnosis and treatment of patients suffering from autoimmune
diseases (caused when the body is unable to distinguish between
foreign and self). Many common diseases such as Rheumatoid Arthritis
are autoimmune in origin and The Binding Site manufactures a range of
diagnostic assays and reagents used in hospital laboratories
worldwide to help diagnose and monitor the treatment of these
diseases, e.g. antiphospholipid syndrome, vasculitis and coeliac
disease.

Products used for the detection of immunodeficiency. These
include the inherited or acquired disorders of the immune system and
products used in donor selection and manufacture of vaccines. The
Binding Site has been and remains a market leader in products for the
investigation of these diseases.

For more information please see http://www.bindingsite.co.uk.

Freelite(TM) is a registered Trademark of The Binding Site Ltd.,
Birmingham, U.K.

Enquiries:
The Binding Site
Paul Duncan
Tel: +44-121-436-1000
Financial Dynamics
Jonathan Birt / Lara Mott
Tel: +44-20-7269-7182

ots Originaltext: The Binding Site Limited
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Enquiries: The Binding Site, Paul Duncan, Tel: +44-121-436-1000;
Financial Dynamics, Jonathan Birt / Lara Mott, Tel: +44-20-7269-7182