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To: ChrisJP who wrote (95356)	11/2/2001 8:53:42 AM
From: MrsNose	Respond to of 150070

Adesta Communications Initiates Financial Restructuring OMAHA, NE, Nov. 2 /CNW/ - Adesta Communications Inc., a nationwide developer of fiber optic-based communication networks and a wholly-owned subsidiary of Bracknell Corporation (NASDAQ: BRKC - news; TSE: BRK - news) today announced that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The filings, made in U.S. Bankruptcy Court in Omaha, Nebraska, will enable Adesta Communications to continue to conduct its business operations and control its assets while restructuring financial obligations and implementing a reorganization plan. On September 20, Bracknell announced that as a condition of amending its bank credit facilities, its Adesta Communications subsidiary was required to be self-funding and it was essential that strategic alternatives be immediately pursued for Adesta. These actions were required because of softness in the telecom sector. Today's announcement is a result of a review of strategic alternatives for Adesta. "During the past 18 months, the telecommunications sector has faced difficult financial times and we have been affected by a large amount of outstanding receivables and a decreased demand for our services," said Bob Sommerfeld, President of Adesta Communications. "We are taking this action because we believe it will best protect the Company's assets for the benefit of our creditors, customers, employees and other stakeholders while we continue to evaluate our strategic alternatives. Although we have already taken dramatic steps to counter the severe downturn in the market for our services, we now find it necessary to seek the assistance of the court in order to reorganize our balance sheet." Adesta Communications has retained McGrath, North, Mullin & Kratz, P.C. to provide legal representation for the proceedings, and KPMG, Inc. as financial advisors for the restructuring. Adesta Communications is a leader in the development, design and integration of intelligent infrastructure solutions for advanced communications applications. The Company provides systems integration and innovative development for facilities-based communications projects. Adesta Communications' clients include federal, state and local government agencies, telecommunications service providers, regional and state transportation and transit agencies, utilities and private industry in the United States and abroad. The company has deployed over 2 million fiber miles in more than 70 metropolitan areas. Information about Adesta Communications can be found at adestacommunications.com.

To: ChrisJP who wrote (95356)	11/2/2001 8:54:15 AM
From: MrsNose	Respond to of 150070

Bracknell Makes Announcements MINNEAPOLIS, MN, Nov. 2 /CNW/ - Bracknell Corporation (NASDAQ: BRKC; TSE: BRK) announced today that its senior lenders have declared defaults under the Company's Amended and Restated Credit Agreements dated as of December 22, 2000, and as further amended, and have declared all amounts outstanding under the facilities currently due and payable. The lenders have also notified the Company of their intent to enforce their security interests and Bracknell has consented to these proceedings. All directors resigned effective as of November 1, 2001. In addition, all officers have resigned their positions as officers, effective November 1, 2001, while retaining their employee positions.

To: ChrisJP who wrote (95356)	11/2/2001 8:55:30 AM
From: Jim Bishop	Read Replies (1) \| Respond to of 150070

GLIA :-)))) Abgenix Licenses From Gliatech Antibody Product Candidates for Cardiovascular and Inflammatory Diseases; IND Planned for 2002 Business Editors & Medical/Health Writers FREMONT, Calif. & CLEVELAND--(BW HealthWire)--Nov. 2, 2001--Abgenix, Inc. (Nasdaq:ABGX) and Gliatech Inc. (Nasdaq:GLIA) today announced an agreement that provides Abgenix with exclusive worldwide rights to human monoclonal antibody therapies against the complement protein properdin as potential treatments for cardiovascular and inflammatory diseases. Abgenix has generated lead antibody product candidates for Gliatech under a January 2000 collaboration and will now assume responsibility for development and commercialization. Abgenix anticipates filing an Investigational New Drug (IND) application to the FDA for an anti-properdin antibody product candidate next year. Under the terms of the agreement, Abgenix obtains an exclusive license to develop and commercialize anti-properdin antibody therapies for all indications and will be responsible for clinical development, regulatory activities, manufacturing, marketing and sales. Gliatech will receive from Abgenix an upfront license fee of $1.5 million, a commitment for a future equity investment, potential milestone payments for multiple clinical indications, research funding for two years and royalties on net sales of any resulting products. Collectively, these non-royalty payments could reach approximately $40 million over the term of the contract if a product is successfully commercialized. "An anti-properdin antibody represents a promising approach to the treatment of acute inflammatory conditions which result, for example, from cardiopulmonary bypass surgery, heart attacks and stroke," said R. Scott Greer, chairman and chief executive officer of Abgenix. "Gliatech has done a great deal of pre-clinical work in this field and has generated an important intellectual property position. We are excited to move toward clinical development of the first product candidate." "Our collaborative work with Abgenix over the past two years has led to the identification of promising clinical candidate antibodies," said Steven L. Basta, president of Gliatech. "We have worked closely in this collaboration, and the XenoMouse(R) technology of Abgenix has been an important tool to create antibodies targeted at the properdin antigen that our research team identified in the inflammatory pathway. We are pleased that Abgenix has chosen this antibody among its portfolio of opportunities to move toward commercialization." Gliatech has been involved in properdin research and its role in modulating inflammatory response for several years and recently received notice of allowance on its patent covering the antigen as a therapeutic target for inflammatory diseases. Agents which block properdin function may play a unique role in modulating the alternative complement pathway in a manner that avoids broad based immune suppression. Properdin is a protein of the alternative complement pathway, which is a component of the normal host immune system. When the complement pathway is inappropriately triggered, tissue damage may result. Such is the case with acute damage, for example from stimulation of the complement pathway by cardiopulmonary bypass surgery. Shutting down this inappropriate response may thus provide an important anti-inflammatory therapy for patients undergoing such procedures. In chronic diseases, such as rheumatoid arthritis, the immune system aberrantly recognizes the patient's own tissue and mounts an autoimmune response. Activation of the complement pathway in such a disease is thought to propagate this attack. An anti-properdin antibody may inhibit this cascade and thus limit tissue damage. In January 2000, Abgenix and Gliatech established a research collaboration to generate fully human antibodies against properdin using Abgenix's XenoMouse(R) technology. The companies have discovered monoclonal antibodies to properdin that are in vitro and ex vivo inhibitors of the complement alternative pathway. By selectively blocking the alternative pathway, the negative consequences of inappropriate complement activation can be attenuated without inhibiting other key elements of the normal host immune defense. In pre-clinical models, anti-properdin antibodies reduced damage to heart tissue in models of reduced blood flow and effectively blocked complement activation in models of cardiopulmonary bypass surgery. Abgenix is a biopharmaceutical company focused on the development and commercialization of human monoclonal antibody therapies for a variety of diseases. The company's antibody technology platform, which includes XenoMouse(R) and XenoMax(TM) technologies, enables the rapid generation and selection of high affinity, fully human antibody product candidates to disease targets appropriate for antibody therapy. Abgenix leverages its leadership position in human antibody technology by building a large and diversified product portfolio through the establishment of licensing arrangements with multiple pharmaceutical, biotechnology and genomics companies and through the development of its own internal proprietary products. For more information on Abgenix, visit the company's website at www.abgenix.com. Gliatech Inc. is engaged in the discovery and development of biosurgery and pharmaceutical products. The biosurgery products include ADCON(R)-L and ADCON(R)-T/N and ADCON(R) Solution, which are proprietary, resorbable, carbohydrate polymer medical devices designed to inhibit scarring and adhesions following surgery. Gliatech's pharmaceutical product candidates include small molecule drugs to modulate the cognitive state of the nervous system and proprietary monoclonal antibodies designed to inhibit inflammation. For Abgenix: Statements made in this press release about Abgenix's technologies, product development activities and collaborative arrangements other than statements of historical fact, are forward looking statements and are subject to a number of uncertainties that could cause actual results to differ materially from the statements made, including risks associated with the success of clinical trials, the progress of research and product development programs, the regulatory approval process, competitive products, future capital requirements and the extent and breadth of Abgenix's patent portfolio. Please see Abgenix's public filings with the Securities and Exchange Commission for information about risks that may affect Abgenix. For Gliatech: Certain statements in this press release constitute "forward-looking statements" that are subject to risks and uncertainties which may cause the actual results of the Company to be different from expectations expressed or implied by such forward-looking statements. Such factors include, but are not limited to, uncertainty of market acceptance of the Company's products, the uncertainty of the continued development of monoclonal antibodies and other risk factors detailed in the Company's SEC filings. --30--nj/sf* dc/sf CONTACT: Abgenix, Inc. Ina Cu, 510/608-4662 or Gliatech Inc. Adam D. Gridley, 216/831-3200 ext. 3019 KEYWORD: CALIFORNIA OHIO INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL MEDICAL PRODUCT MARKETING AGREEMENTS SOURCE: Abgenix Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *