Shire Delivers Strong Quarter: Driven by $243m of New Product Sales (+164% YOY Growth). Revenue Guidanc...(et of acquisitions: Decrease/(increas...)

Decrease/(increase) in accounts

receivable 22.0 (25.2) (28.4) (103.0)

Increase/(decrease) in sales

deduction accrual 27.6 (10.8) 35.5 18.9

Decrease/(increase) in inventory 19.5 (26.6) 10.4 (40.0)

Decrease in prepayments and other

current assets

3.8 25.1 24.3 11.3

(Increase)/decrease in other assets (2.7) 9.8 (2.4) 0.7

Increase/(decrease) in accounts and

notes payable and other liabilities

50.7 25.1 (66.4) 7.6

Increase in deferred revenue 1.9 52.0 5.5 88.5

________ ________ ________ ________

Net cash provided by operating 180.4 183.0 246.1 284.4

activities(A)

________ ________ ________ ________

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

________ ________ ________ ________

CASH FLOWS FROM INVESTING

ACTIVITIES:

Movements in short-term investments - 55.8 - 55.8

Movements in restricted cash 0.2 (9.2) 5.2 (9.6)

Purchases of subsidiary

undertakings, net of cash acquired

- (2
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