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TeraView Strengthens: Honours and Additions to the Executive Management Team

TeraView Ltd, the world leader in commercial exploitation of terahertz technology, is delighted to announce that Michael Pepper, Chief Scientific Officer and Co-Founder at TeraView Ltd, and Professor of Physics at the University of Cambridge, has been knighted in the New Year’s Honours list.

As part of the continued strengthening of its senior management team, the company is also pleased to announce that Paddy O’Kelly will join TeraView in February 2006 as Chief Operating Officer.

TeraView Ltd. was founded by Professor Michael Pepper and Dr Don Arnone in April 2001 as an independent spin off from Toshiba Research Europe Ltd. Professor Pepper is a pioneer of both semiconductor nanostructures as well as Terahertz technology. He is a Fellow of the Royal Society and of Trinity College, Cambridge.

Terahertz is a non-destructive imaging tool using frequencies between the infrared and microwave that were previously inaccessible. Under Professor Pepper’s guidance, the Company has successfully developed and sold early stage products to major pharmaceutical companies to aid in the design of new controlled release tablets, as well as trouble shooting and quality control in pharmaceutical manufacturing. The technology also has uses in non-intrusive detection of non-metallic weapons and plastic explosives, where product development is currently supported by the US government, as well as the detection of cancer, where early stage imaging prototypes are currently supported by the National Health Service.

” Our team has worked with great inventiveness and initiative to bring this technology to its present powerful state. As little as three years ago the technology was confined to the laboratory, and they have transformed it into products used by customers to solve previously intractable problems. Continual improvements, including reduction in size and cost to open up new markets, are the hallmarks of TeraView” says Professor Pepper.

Paddy O’Kelly joins TeraView as Chief Operating Officer at a time when several large contracts have been secured from major pharmaceutical customers as well as medical imaging partners. Padraig brings over 20 years experience to operations and product development as well as other commercial aspects of TeraView’s business, most recently from Applied Imaging Corporation where he is Managing Director. “I am delighted to be joining the Company at a time when it is facing a number of key challenges related to its recent commercial successes”, said Paddy.

Dr Don Arnone, Chief Executive Officer of TeraView Ltd, said “Having had the pleasure of working both for and with Sir Michael in different capacities over the last 13 years, I am personally delighted that his numerous contributions to British science and industry have been recognized in this manner. I join our Board, shareholders and staff in extending congratulations to Mike. I am also delighted that Paddy has chosen to join TeraView, which is a testament to the Company’s continuing success in building up a world-class executive management team. Given the recent contracts that we have successfully procured from pharmaceutical and medical customers, it is critical that we execute and deliver in a timely fashion, and Paddy’s breadth and depth of experience are vital in this respect.”

Background Information:

TeraView Ltd is based in Cambridge, UK, was spun-out of Toshiba Cambridge Research Laboratory in April 2001 to commercially exploit the intellectual property rights and expertise developed in the creation and detection of Terahertz (THz) radiation using innovative semiconductor technologies. Its founders are Dr Don Arnone, previously Terahertz Programme Director at Toshiba and Professor Michael Pepper who is Head of the Semiconductor Physics Group at the University’s Cavendish Laboratory.

The company provides terahertz spectrometer (TPI spectra 1000) products for polymorph detection in drug formulation and pharmaceutical R&D, as well as tablet imaging products (TPI coating scan) to non-destructively examine the 3D structural and chemical matrix and related critical quality attributes of solid dosage forms for product development as well as root cause analysis in manufacture.

In addition to pharmaceutical applications, the Company also works with end-users in the security screening and medical imaging markets.