The German EVOTEC BIOSYSTEMS (turnover of EUR 9.8 million in 1999 with a workforce of 234 people) concluded an agreement with the administrative advisor OAI - OXFORD ASYMMETRY INTERNATIONAL (turnover of GBP 20 million in 1999 with 256 employees) to merge the two groups. The operation will be carried out through a public exchange offering by EVOTEC on OXFORD ASYMMETRY for a total of 722 pence per OAI share, or a total amount of GBP 316 millions.