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For Immediate Release

4 January 2013

SkyePharma PLC ("the Company")

The Company was informed on 4 January 2013that as a result of transactions on 31 December 2012by the SkyePharma PLC Share Purchase Plan (the "Plan") (an approved all employee share purchase plan) the Trustees of the Plan purchased an additional340Ordinary Shares of the Company at a price of £0.735 per share.

As a result of these transactions, Peter Grant, a Director of the Company, has the following additional interests as a result of his personal participation in the Plan:-

Partnership Shares  purchased on

31 December 2012at £0.735 per share

Matching Shares  awarded on

31 December 2012 at£0.735 per share

170

170


In accordance with the rules of the Plan, Mr Grant has been awarded Matching Shares on the basis of one Matching Share (Ordinary Share) for each Partnership Share (Ordinary Share). 

The beneficial ownership of the Matching Shares will pass to Mr Grant in three years' time subject to continued employment and the retention of the underlying Partnership Shares.

The following shares have been released from the Plan following expiry of the third anniversary and beneficial ownership of the Matching shares has now passed to Mr Grant, who continues to hold all the shares released:

Partnership Shares  Released

22 December 2012

Matching Shares  Released

22 December 2012

Total number of Partnership and Matching Shares held

on 4 January 2013

139

139

18,700

The execution of the transaction noted above did not involve any of the Company's Directors or any persons discharging managerial responsibility.

This notification relates to transactions notified in accordance with Disclosure and Transparency Rule 3.1.4R(1)(a).


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