2003 First Half-Year Result July, 2003 - 1

UCB Group 29th July, 2003

2003 First Half-Year Result

Georges Jacobs Chairman of the Executive Committee

2003 First Half-Year Result July, 2003 - 2

Sectorial BreakdownUCB Group

Total Turnover 1,325 1,512 +14% + 25% Pharma 780 739 Surface Specialties 545 773 - of which Films 202 186

H1 2002 H1 2003

Exceptional -3 -31Taxation -81 -61

Net Profit after Taxation 182 136 -25%

Total Ordinary Profit 266 228 -14% 0%

Pharma 242 193 Surface Specialties 20 31 - of which Films -10 - Non sectorial 4 4

(in EUR million) At constant exchange rate In €

2003 First Half-Year Result July, 2003 - 3

UCB Pharma

Turnover 780 739 818

H1-2002 H1-2003 (in EUR million)

Pharma

Allergy

NeurologyOthers

51 %

30 %19 %

At constant exchange rate

2003 First Half-Year Result July, 2003 - 4

UCB Pharma

Ordinary profit 242 193 230

H1-2002 H1-2003 (in EUR million)

Pharma

• Decrease Zyrtec turnover in Europe

• Unfavourable net exchange variances amounting to € 37 million

• Compensation of the cancellation of the Ditropan XL agreement (€ 23 million) booked during first half of 2002

At constant exchange rate

2003 First Half-Year Result July, 2003 - 5

First Half-Year 2003 Allergy Franchise Global In-Market Turnover: EUR 860 million (*)

USA 582 574 + 21%

Europe 212 180 - 15 %

Japan 84 79 + 6%

R. of W. 30 28 - 8 %

Total incl. licencees 908 860 - 5 %

H1-2002 H1-2003(in EUR million)

Pharma

• USA: Sharp increase despite decrease of overall Rx market

• EUROPE: Zyrtec decreases due to generic competition while Xyzal more than doubled its turnover

• JAPAN: Market share has decreased from 17% to 15%

in local currency

Pfizer royalties 72 71 + 21%

(*) UCB consolidated turnover in Allergy is € 374 million(USA: € 127 million; EU: € 146 million; Japan: € 73 million; ROW: € 28 million)

In €

2003 First Half-Year Result July, 2003 - 6

Keppra Turnover First Half-Year 2003: EUR 135 million

USA 66 90 +66%

Europe 28 45 +61%

R. of W. 0.8 1 -

Total Turnover 95 135 +43%

H1-2002 H1-2003(in EUR million) • Keppra is the first choice in add-on therapy among new AEDs in the US

• Most succesful launch in key markets vs. existing new AEDs

Pharma

in local currencyIn €

2003 First Half-Year Result July, 2003 - 7

Research & Development

ucb 34714

Keppra®

CNS:

ucb 35440

Efletirizine

Xyzal®

Allergy/Asthma:

In progressCompleted

I II III Filing

Multiple compounds in preclinical stage

Multiple compounds in preclinical stage

Line extension: Paediatric, Primary Generalized Seizures, MonotherapyNew Indications: Exploratory TrialsNew Formulations: oral solution, IV

Allergic Asthma and inflammatory respiratory diseases

Acute pain, Neuro-degenerative diseases,

Epilepsy related disorders

IV

Pharma

Pre-Clinical

2003 First Half-Year Result July, 2003 - 8

• Total turnover negatively affected by € 67 million due to dollar depreciation

• Acquired Solutia activities amounted to € 262 million in turnover

• Volumes remain good but pressure on margins

• Films break-even

Surface Specialties

Turnover 545 773 840 - of which Films 202 186 208Ordinary profit 20 31 33- of which Films -10 - -

H1-2002 H1-2003 (in EUR million)

Coating Resins &Additives

Films & Adhesives

Technical Resins

32 % 59 %

9 %

At constant exchange rate

2003 First Half-Year Result July, 2003 - 9

Outlook and Challenges for 2003

• Pharma• Confidence for Zyrtec in the US• Increase Xyzal sales in Europe• Increase sales and marketing for Zyrtec in Japan• Optimize R&D efforts • Reap benefits of business development

• Surface Specialties• Integrate the new structure • Benefit from first synergies

UCB Group

2003 First Half-Year Result July, 2003 - 10

UCB Group 29th July, 2003

2003 First Half-Year Result

Georges Jacobs Chairman of the Executive Committee