NPS Pharmaceuticals, Inc. Announces an Increase in Tender Offer Price for Its 3.0% Convertible Notes Due 2008 and Extends Expiration Date Until Octobe...(.F. King & Co. at 888-644-5854(toll.free...)

This announcement shall not constitute an offer to purchase or a solicitation of an offer to sell any securities. The tender offer is being made only through an Offer to Purchase and related materials. Holders of the convertible notes should read carefully the Offer to Purchase and related materials because they contain important information. NPS Pharmaceuticals, Inc. has previously mailed a copy of the Offer to Purchase to each of the holders of the convertible notes. In addition, holders of the convertible notes and investors may obtain a free copy of the Tender Offer Statement on Schedule TO, the offer to purchase and other documents that NPS Pharmaceuticals, Inc. has filed with the Securities and Exchange Commission relating to the convertible notes tender offer at the SEC's Web site at http://www.sec.gov. These materials contain important information and holders of the notes are urged to read them carefully prior to making any decision with respect to the tender offer.

NPS Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of small molecules and recombinant proteins as drugs, primarily for the treatment of metabolic, bone and mineral, and central nervous system disorders. The company has drug candidates in various stages of clinical development. Additional information is available on the company's website, http://www.npsp.com.

This press release contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements relating to strategies, expectations, intentions, plans, future events, performance, underlying assumptions, and other statements that do not relate strictly to historical o
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