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Amarin Announces Completion of the First Tranche of $60 Million Private Placement
Date:5/22/2008

Appoints Four New Directors to Board

DUBLIN, May 22 /PRNewswire-FirstCall/ -- Amarin Corporation plc (NASDAQ: AMRN) today announced that it has closed the $30 million first tranche of its previously announced $60 million private placement. The net proceeds of the first tranche, after deducting the placement agents' fees and estimated offering expenses, will be approximately $27 million.

In conjunction with the financing, Amarin has appointed to its Board representatives of the four largest investors in the placement. The new non-executive directors are Dr. James Healy of Sofinnova Ventures, Dr. Carl Gordon of OrbiMed Advisors LLC, Dr. Eric Aguiar of Thomas, McNerney & Partners, and Dr. Srinivas Akkaraju of Panorama Capital. Non-executive directors retiring from the Amarin Board are Mr. John Groom, Dr. Simon Kukes, Dr. Prem Lachman, Professor William Hall, and Dr. Michael Walsh.

Thomas Lynch, Chairman and Chief Executive Officer of Amarin, Commented, "I am pleased to welcome our new board members and look forward to working closely with them in growing our company in the future. On behalf of the Company's directors and my colleagues at Amarin, I would also like to thank our retiring non-executive directors for their valuable contribution to Amarin over the past number of years."

Incoming director Dr. Healy, General Partner of Sofinnova Ventures, added, "We are excited to be involved with Amarin at this juncture, in what we view as a new phase in the Company's development. The combination of Amarin's experienced management team, lipid science expertise and promising pipeline make this an attractive opportunity."

The Company is also decreasing the size of its Board from eleven members to eig
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SOURCE Amarin Corporation Plc
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