RNS Number:2474N
Skyepharma PLC
07 July 2003


Immediate Release                                          7 July 2003

                                 SkyePharma PLC

Application has been made to the London Stock Exchange and to the UK Listing
Authority for the admission of 3,820,231 ordinary shares of 10p each, ranking
pari passu with the current issued share capital, to the Official List. These
shares have been allotted in connection with the following:-

1. 3,690,211 Ordinary Shares in aggregate have been allotted by way of deferred
    consideration in connection with the agreement for the acquisition by the
    Company of RTP Pharma Inc.. In consideration for the loss of certain option
    rights by shareholders of RTP Pharma Inc., the Company is required to issue
    200,000 additional shares, or pay an amount in cash, for each penny
    difference between the actual share price at 30 June 2003, as calculated in
    accordance with the terms of the agreement, and 82 pence.

2. 130,020 ordinary shares in aggregate have also been allotted in connection
    with the exercise of Employee Share Options as follows:-

13 June 2003               113,395 ordinary shares
19 June 2003               10,125 ordinary shares
26 June 2003               6,500 ordinary shares


It is anticipated that these shares will be listed on the Official List of the
UK Listing Authority and traded on the London Stock Exchange PLC on Thursday
10th July 2003.

       Copies of this announcement are available, free of charge, from:-

                          MERRILL LYNCH INTERNATIONAL
                               20 FARRINGDON ROAD
                                LONDON EC1M 3NH




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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