LONDON, Jan. 11 /PRNewswire-FirstCall/ -- SkyePharma PLC (LSE:SKP) ( NASDAQ: SKYE) announces an update on the progress of its Strategic Review. On 17 November 2005 the Board of SkyePharma announced that following an unsolicited approach from a third party the Board had decided to review all of its strategic options, including, inter alia, offers for the Company as a whole. On 8 December SkyePharma also announced that the Company had received a number of expressions of interest, both with respect to individual assets owned by the Company as well as potential cash offers for the Company as a whole. In the light of such interest, the Board decided to allow a number of parties access to a data room to commence due diligence on the Company. The Board of SkyePharma continues to seek potential offers for the Company as a whole, but it is not clear at this stage that an offer for the Company, whether in cash or otherwise, which is capable of recommendation, will be forthcoming. In addition, a number of parties remain interested in potentially acquiring individual assets owned by the Company. For further information please contact: SkyePharma PLC +44 207 491 1777 Michael Ashton, Chief Executive Officer +44 207 491 5124 Peter Laing, Director of Corporate Communications Sandra Haughton, US Investor Relations +1 212 753 5780 Buchanan Communications +44 207 466 5000 Tim Anderson / Mark Court/ Rebecca +44 7710 328 560 Skye Dietrich About SkyePharma SkyePharma 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 http://www.skyepharma.com/. 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. DATASOURCE: SkyePharma PLC CONTACT: SkyePharma PLC,; Michael Ashton, Chief Executive Officer, +44-207-491-1777, or 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, or Tim Anderson, Mark Court or Rebecca Skye Dietrich, +44-7710-328-560 Web site: http://www.skyepharma.com/

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