EX-99.1

Exhibit 99.1


FOR IMMEDIATE RELEASE Contact: Bill Ballas
- -------------------------------------------------------------------------
(804) 754-2714
ballas1@erols.com


COMMONWEALTH BIOTECHNOLOGIES, INC.
SETTLES PATENT DISPUTE

RICHMOND, VA (May 8, 2001) - Commonwealth Biotechnologies, Inc. (NASDAQ small
cap exchange: CBTE) announced that it has settled its pending patent dispute
with Applied Biosystems, and that both parties have agreed to dismiss their
claims against the other party.

Under the settlement agreement, Applied Biosystems will receive a license to use
products utilizing CBI's patented DNA lane tracking technology for automated DNA
sequencing. Other terms of the settlement agreement are confidential.

"We are very pleased to have reached this agreement with Applied Biosystems,"
said Thomas R. Reynolds, Senior Vice President of CBI and one of the inventors.
"To have a company like Applied Biosystems marketing this technology is a strong
statement as to its value as a DNA sequencing tool."

In March, Commonwealth announced record revenues and growth for Fiscal Year
2000. The company reported that its revenues were up 70% from $2,565,132 during
1999 to $4,366,959 for 2000. Both the percentages of revenue growth and total
revenues are records for the company.

Founded in 1992, CBI is located in Gateway Centre, 601 Biotech Drive, Richmond,
Virginia 23235 (1-800-735-9224). CBI occupied this 32,000 square foot facility
in December 1998 and currently employs a staff of 48 including twelve doctoral
scientists. CBI provides comprehensive research and development services to
more than 1,900 private, government, and academic customers in the global
biotechnology industry. For more information, visit CBI on the web at
www.cbi-biotech.com.
- -------------------

Any statements contained in this release that relate to future plans, events or
performance are forward-looking statements that involve risks and uncertainties
as identified in the Company's filings with the Securities and Exchange
Commission. Readers are cautioned not to place undo reliance on these forward-
looking statements, which speak only as the date hereof. Among the factors that
could cause the actual results to differ materially from those projected are the
following: business conditions and the general economy, the development and
implementation of the company's long-term business goals, the federal, state,
and local regulatory environment; and lock of demand for the company's services.
Other risks, uncertainties, and factors that could cause actual results to
differ materially from those projected are detailed from time to time in reports
filed by the Company with Securities and Exchange Commission, including Forms 8-
K, 10-QSB, and 10-KSB. The company undertakes no obligation to publicly release
the results of any revisions to these forward-looking statements that may be
made to reflect the events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.