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NPS Pharmaceuticals, Inc. Announces an Increase in Tender Offer Price for Its 3.0% Convertible Notes Due 2008 and Extends Expiration Date Until October 17, 2007
Date:10/3/2007

BEDMINSTER, N.J., Oct. 3 /PRNewswire-FirstCall/ -- NPS Pharmaceuticals, Inc. (Nasdaq: NPSP) announced today that it has amended the terms of its cash tender offer with respect to its outstanding $171.8 million in aggregate principal amount of 3.0 percent convertible notes due 2008. Under the amended terms of the tender offer, NPS Pharmaceuticals, Inc. is offering to purchase any and all of the outstanding convertible notes at a purchase price, per each $1,000 principal amount of the convertible notes, equal to $987.50, plus all accrued and unpaid interest up to, but not including, the date of payment for the Notes accepted for payment.

In addition, NPS Pharmaceuticals, Inc. has extended the tender offer. As amended, the tender offer will now expire at midnight New York City time, on October 17, 2007, unless further extended or earlier terminated. Payments of the tender consideration for the convertible notes validly tendered and not withdrawn on or prior to the expiration date and accepted for purchase will be made promptly after the expiration date.

Full details of the terms and conditions of the tender offer are included in NPS Pharmaceuticals, Inc.'s Offer to Purchase dated September 6, 2007. Except as set forth herein, the terms of the tender offer remain the same as set forth in the Offer to Purchase.

Jefferies & Company, Inc. is acting as dealer manager for the tender offer for the convertible notes. Questions regarding the tender offer may be directed to Jefferies & Company, Inc. at 800-443-6605 (U.S. toll.free).

D.F. King & Co., Inc. is acting as the Information Agent for the tender offer for the convertible notes. Requests for documents related to the tender offers may be directed to D
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SOURCE NPS Pharmaceuticals, Inc.
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