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Following a Good Start to the Year Shire Reaffirms Full Year 2008 Financial Guidance
Date:4/25/2008

s Millions

Basic 545.1 522.6

Diluted 581.5 529.7

Unaudited US GAAP results for the three months to March 31, 2008

Consolidated Statements of Cash Flows

3 months to March 31, 2008 2007

$M $M

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income 128.6 112.7

Adjustments to reconcile net income to net cash

provided by operating activities:

Depreciation and amortization:

- in cost of product sales 3.0 1.3

- in other costs and expenses 44.4 28.9

Share based compensation 16.3 10.6

Amortization of deferred financing charges 1.3 -

Interest on building financing obligation 1.2 -

Write down of long-term assets - 0.3

(Gain)/Loss on sale of long-term assets (9.4) 0.1

Gain on sale of product rights (7.6) -

Movement in deferred taxes 33.8 13.7

Equity in earnings of equity method investees (1.6) (0.5)

Changes in operating assets and liabilities, net of

acquisitions:

Increase in accounts receivable (50.4) (78.1)

Increase in sales deduction accrual 7.9 29.7

Increase in inventory (9.1) (13.4)

Decrease/(Increase) in prepayments and other current)

assets 20.5 (13.8)

Decrease/(Increase) in other assets
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SOURCE Shire plc
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