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Amarin Provides 2010 Year-End Review to Shareholders
Date:1/31/2011

s collaborators, deserves tremendous applause for the accomplishments over the past year. Every member of the team made significant contributions during 2010.

During 2010, my role as Executive Chairman expanded into the more active role of Executive Chairman and Chief Executive Officer. Additionally, John F. Thero was promoted to President and, in further preparation for commercialization of AMR101, we made two important additions to our board of directors, appointing Kristine Peterson and Jan van Heek as directors. Ms. Peterson and Mr. van Heek each have more than 25 years of experience in the pharmaceutical industry, including experience in commercializing new products.  Both of these independent directors are already making positive contributions to the company. Amarin now has eight members of the board of directors, with seven of the eight as non-officer directors.

Successfully Completed Offering of American Depositary Shares (ADSs) Allowing Amarin to Prepare for Commercialization of AMR101, File a New Drug Application (NDA)In January 2011, we completed our underwritten public offering of ADSs at a price of $7.60 per ADS. Amarin sold a total of 13,800,000 ADSs, including the exercise in full of the underwriters' over-allotment option, and received approximately $100 million of net proceeds from the offering after deducting underwriting discounts and commissions and estimated offering expenses. Amarin anticipates using the net proceeds from the offering to prepare for commercialization of AMR101, to file an NDA for AMR101 and for working capital and general corporate purposes.  The cash raised in this offering is incremental to our unaudited cash balance of approximately $31 million as of December 31, 2010.  The year-end cash balance includes approximately $9 million in proceeds from Q4 2010 warrant and option exercises.

Looking Ahead Our priorities for 2011 include:

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