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www.fdanews.com/articles/85003-skyepharma-responds-to-allegations-made-by-north-atlantic-value-group

SKYEPHARMA RESPONDS TO ALLEGATIONS MADE BY NORTH ATLANTIC VALUE GROUP

March 3, 2006

SkyePharma PLC wishes to respond to certain unsubstantiated allegations made yesterday by a minority group of shareholders ("the NAV group") in a circular to SkyePharma's shareholders. The vast majority of the shareholdings held by the NAV group have been acquired in the last nine months. Until today the Company has not been able to respond with a detailed rebuttal as the EGM requisition and subsequent letters from the NAV group have only cited unspecified "corporate governance issues."

PR Newswire (http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/03-03-2006/0004312838&EDATE=)