Share Option Scheme

RNS Number:7227J
Skyepharma PLC
07 April 2003

7 April 2003

SkyePharma PLC (the "Company")

The SkyePharma PLC 1999 Share Option Scheme (as amended)  (the "Scheme") allows
the grant of options to employees. On 7 April 2003, 15.8 million share options
in total were granted to employees. Under the terms of the Scheme, Executive
Directors were granted options to acquire ordinary shares in the Company, at an
option price of 46.5 pence per share. The number of options granted to each
Executive Director is as follows:-

Name                                               Number of Options

Ian Gowrie-Smith                                           1,935,484

Michael Ashton                                             1,703,226

Donald Nicholson                                             946,237


These options will only vest and become exercisable subject to the satisfaction
of the following conditions:-

* continued employment by the relevant Executive Director for the three year
performance period from the date of grant; and

* the satisfaction of the comparative total shareholder return performance
measure. 50% of options will vest for median performance with full vesting only
occurring for upper quartile performance (straight line vesting between these
two points).

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