RNS Number:7583T
Skyepharma PLC
31 December 2003

For Immediate Release                                           31 December 2003

                         SkyePharma PLC ("the Company")

As a result of transactions on 31 December 2003 by the SkyePharma PLC Share
Purchase Plan (an Inland Revenue approved all employee share purchase plan),
Michael Ashton and Donald Nicholson, directors of the Company, as trustees of
the Plan, became the beneficial owners of an additional 4266 Ordinary Shares of
the Company, bringing the total held by the Plan to 95247 Ordinary Shares of the
Company.

As a result the executive directors of the Company have the following additional
interests as a result of their personal participation in the Plan:-

                           Partnership                Matching               Total number of
                           Shares purchased           Shares awarded         Partnership and
                           on 31 December 2003        on 31 December         Matching Shares held
                           at #0.765 per share.       2003 at #0.765         on 31 December 2003.
                                                      per share.



Ian Gowrie-Smith                 164                    164                          4600
Michael Ashton                   164                    164                         10030
Donald Nicholson                 164                    164                         10030


In accordance with the rules of the Plan these directors have been awarded the
Matching Shares on the basis of one Matching Share for each Partnership Share.

The beneficial ownership of the Matching Shares will pass to the directors in
three years time subject to continued employment and the retention of the
underlying Partnership Shares.


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