Holding(s) in Company

For filings with the FSA include the annex

For filings with issuer exclude the annex 

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

SKYEPHARMA PLC

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

An event changing the breakdown of voting rights

Other (please specify):______________

3. Full name of person(s) subject to notification obligation:

The Goldman Sachs Group, Inc.

4. Full name of shareholder(s) (if different from 3):

Goldman, Sachs & Co.

5. Date of transaction (and date on which the threshold is crossed or reached if different):

25 JULY 2008

6. Date on which issuer notified:

29 JULY 2008

7. Threshold(s) that is/are crossed or reached:

7%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Direct

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

GB0008123571 US8308081012

64,335,374 2,730 (273 ADRs)

7.89% 0.00%

14

56,805,360 2,730 (273 ADRs)

0.00%

6.97% 0.00%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

Total (A+B)

Number of voting rights

Percentage of voting rights

56,808,104

6.97%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

The interest in 14 shares arose from a beneficial interest held by Goldman, Sachs & Co (“GS&Co.”), a direct subsidiary of GS Inc. These shares are, or will be, registered in the name of Goldman Sachs Securities (Nominees), Limited (“GSSN”). The interest in 56,805,360 shares arose from an interest held by Goldman, Sachs & Co., a wholly-owned direct subsidiary of GS Inc, acting as custodian for its customers These shares are, or will be, registered in the name of Goldman Sachs Securities (Nominees), Limited. The interest in 2,730 shares arose from an interest held by Goldman, Sachs & Co., a wholly-owned direct subsidiary of GS Inc, acting as custodian for its customers of 273 American Depositary Receipts (“ADRs”). These ADRs are, or will be, held at the Depositary Trust Company of New York (“DTC”).

Proxy Voting:

10. Name of proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

General email contact: [email protected]

14 Contact name:

Sean Rogers / Alan Cox

15. Contact telephone name:

0207-552-9205 / 0207-774-8774