Skyepharma PLC Initial Response To Allegations Made By North Atlantic Value Group

LONDON, March 2 /PRNewswire-FirstCall/ -- SkyePharma PLC notes the announcement made today by North Atlantic Value LLP.

The allegations made in this statement are without substance. Once again the NAV group offers shareholders no strategy for taking SkyePharma forward. Instead the statement contains unsubstantiated claims linked tenuously to Corporate Governance. SkyePharma abides by the highest Corporate Governance standards and strongly resents any claims to the contrary.

SkyePharma will release a detailed response to all the allegations in its statement later today.

Shareholders are urged to take no action until they have seen the facts. For further information please contact: SkyePharma PLC +44 207 491 1777 Michael Ashton, Chief Executive Officer Peter Laing, Director of Corporate Communications +44 207 491 5124 Sandra Haughton, US Investor Relations +1 212 753 5780 Buchanan Communications +44 207 466 5000 Tim Anderson / Mark Court About SkyePharma

SkyePharma PLC develops pharmaceutical products benefiting from world- leading drug delivery technologies that provide easier-to-use and more effective drug formulations. There are now eleven approved products incorporating SkyePharma’s technologies in the areas of oral, injectable, inhaled and topical delivery, supported by advanced solubilisation capabilities. For more information, visit

Certain statements in this news release are forward-looking statements and are made in reliance on the safe harbour provisions of the U.S. Private Securities Litigation Act of 1995. Although SkyePharma believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will materialize. Because the expectations are subject to risks and uncertainties, actual results may vary significantly from those expressed or implied by the forward-looking statements based upon a number of factors, which are described in SkyePharma’s 20-F and other documents on file with the SEC. Factors that could cause differences between actual results and those implied by the forward-looking statements contained in this news release include, without limitation, risks related to the development of new products, risks related to obtaining and maintaining regulatory approval for existing, new or expanded indications of existing and new products, risks related to SkyePharma’s ability to manufacture products on a large scale or at all, risks related to SkyePharma’s and its marketing partners’ ability to market products on a large scale to maintain or expand market share in the face of changes in customer requirements, competition and technological change, risks related to regulatory compliance, the risk of product liability claims, risks related to the ownership and use of intellectual property, and risks related to SkyePharma’s ability to manage growth. SkyePharma undertakes no obligation to revise or update any such forward-looking statement to reflect events or circumstances after the date of this release.

SkyePharma PLC

CONTACT: Michael Ashton, Chief Executive Officer, or Peter Laing, Directorof Corporate Communications, both of SkyePharma PLC, +44-207-491-1777, or+44-207-491-5124; or Sandra Haughton, US Investor Relations for SkyePharma,+1-212-753-5780; or Tim Anderson or Mark Court, both of BuchananCommunications, +44-207-466-5000, for SkyePharma