Last updated on April 23, 2014 at 1:22 EDT

3M Withdraws Blackmail Claims Against Harvey Boulter From New York Court

February 29, 2012

LONDON, February 29, 2012 /PRNewswire/ –

In the latest development in an ongoing global legal dispute, 3M Company (3M) has
withdrawn a lawsuit it filed in a New York court against Harvey Boulter, the CEO of
investment fund manager Porton Group.

The termination of 3M’s lawsuit in New York follows a decision earlier this month by a
Washington DC federal judge ruling that 3M’s “blackmail” claim against the Porton Group’s
Washington DC attorney was invalid.

3M’s withdrawal of the case in New York also comes in the wake of Porton’s victory in
the High Court in London last November, where 3M was held liable for damages for breach of
its contractual obligations over its failure to develop a test to track MRSA in hospitals
after buying the base technology from a consortium led by Porton.

Porton Group CEO, Harvey Boulter, said: “I am delighted that 3M has withdrawn its New
York lawsuit. 3M made unfounded accusations in the US designed to deflect attention from
the case in the UK, where 3M was held liable for breach of contract.

“3M’s spurious ‘blackmail’ claims had absolutely no merit. I am pleased that the New
York case has been closed on this sham of a dispute.”

The decision coincides with the departure of Sir George Buckley as President and CEO
of 3M last week (24 February). The legal wrangle was ignited publically when 3M falsely
alleged that Mr Boulter had threatened, after a meeting with the then UK Defence Secretary
Liam Fox, to use political contacts to have Sir George stripped of his knighthood unless
3M paid Porton $30 million to settle the contract dispute.

Notes to Editors:

For further information please contact Eben Black on +44-7968-559-198 or
eben.black@dlapiper.com or Anna Brown on +44-7834-570-464 or

This release supersedes that issued on the same subject on February 23.

SOURCE Porton Group

Source: PR Newswire