Shire Delivers Strong Quarter: Driven by $243m of New Product Sales (+164% YOY Growth). Revenue Guidanc...(542.5 547.3 579.6 535.0 ...)

________ ________ ________ ________

Unaudited US GAAP results for the three months and six months to June 30,

2008

Consolidated Statements of Cash Flows

3 months 3 months 6 months 6 months

to June to June to June to June

30, 30, 30, 30,

2008 2007 2008 2007

$M $M $M $M

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CASH FLOWS FROM OPERATING

ACTIVITIES:

Net (loss)/income (79.0) (1,811.3) 49.6 (1,698.6)

Adjustments to reconcile net

(loss)/income to net cash provided

by operating activities:

Depreciation and amortization 48.9 33.5 96.3 63.7

Amortization of deferred financing

charges 1.2 9.2 2.5 9.2

Interest on building financing

obligation 0.7 - 1.9 -

Share based compensation 19.4 11.8 35.7 22.4

In-process R&D charge on New River

acquisition - 1,896.0 - 1,896.0

Impairment of intangible assets 90.4 - 90.4 -

Gain on sale of long-term assets (0.4) - (9.8) -

Gain on sale of product rights (9.1) (5.0) (16.7) (4.9)

Movement in deferred taxes (16.4) 0.1 17.4 13.8

Equity in losses/(earnings) of

equity method investees 1.9 (0.7) 0.3 (1.2)

Changes in operating assets and

liabilities, n
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