HIGH HOPES FOR CANNABIS MEDICINE

GW PHARMACEUTICALS, the biotechnology company developing drugs from the
cannabis plant, yesterday revealed promising results from its pain relief
trials in multiple sclerosis and also said it had begun new trials in
cancer. GW, which joined the Alternative Investment Market last June, grows
cannabis plants in a secret location in England and hopes to have its first
drug on the market in 2004.

Geoffrey Guy, GW's executive chairman, said the company had had "a number
of approaches" from potential pharmaceutical partners interested in selling
the drugs. Dr Guy said his company's strategy was to sign a marketing deal
after phase three trials.

GW has just started a phase three trial into the treatment of cancer pain.
The trial is expected to be completed at the end of this year, at about the
same time as completion of phase three multiple sclerosis trials.

Justin Gover, GW's managing director, said: "We remain on target to submit
our first regulatory application in 2003 with a view to the first
cannabis-based medicine being launched in 2004."

The company, whose shares fell 1p to 114p, reported a full-year pre-tax
loss of UKP 7.2 million.