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Amarin Signs Agreement to Acquire Ester Neurosciences
Date:12/5/2007

of $15 million, of which $5.0 million is payable in cash and $10 million is payable through the issuance of 25 million Amarin ordinary shares, each ordinary share represented by one American Depositary Share ("ADS"), representing approximately 20% of the outstanding ADSs of Amarin (excluding the issuance of ADSs in the financing). Additional contingent payments, valued at an aggregate of $17 million, will be payable to Ester in the event that certain development-based milestones are successfully completed. The additional contingent consideration consists of:

- Two milestones aggregating $11 million, payable, at Amarin's option, in cash or in ordinary shares valued at $0.38 per share, the volume weighted average closing price of Amarin's ADSs for the 10 days ending on December 4, 2007 (subject to an adjustment reducing the number of shares payable to former Ester shareholders if Amarin's ADS closing price on such milestone date is higher than $0.76 per share). These milestones consist of:

- ADSs valued at $5 million payable no earlier than April 5, 2008, on the achievement of certain efficacy data on completion of the ongoing Phase IIa study; and

- ADSs valued at $6 million due on successful completion of the Phase II program, supporting progression to Phase III in the United States.

- One milestone of $6 million payable in cash on successful completion of the Phase III program in the United States.

Amarin has assumed an obligation to pay a royalty to Yissum equal to 7% of net product sales of EN101, or of any other product commercialised from Ester's licensed intellectual property. In addition, should Amarin partner EN101 for applications other than MG, Ester shareholders will be entitled to receive 10% of any license fees, milestone payments, royalties and/or other related income arising therefrom in the five years from closing.

Financing Transactions

Amarin also announced today that it has received commitments for t
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SOURCE Amarin Corporation Plc
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