Alliance Pharma Regulatory News (APH)

ALLIANCE PHARMA PLC

("Alliance" or the "Group")

Director's Dealing

Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, announces that it has received notice that on 2 December 2019, Andrew Franklin, Chief Financial Officer of Alliance, exercised options over 1,500,000 new ordinary shares of 1 pence each in the Company ("Ordinary Shares") under the Company's Share Option Plans. The average exercise price was 46.75 pence.

Following this exercise, on 5 December 2019, Mr Franklin sold 1,371,616 Ordinary Shares at a price of 76.9 pence per share, and in accordance with the Group's share retention policy, retained 128,384 Ordinary Shares. Following these transactions, Mr Franklin's total beneficial interest in the Group is 128,384 Ordinary Shares, representing approximately 0.02 per cent. of the Group's issued share capital.

The 1,500,000 Ordinary Shares will be admitted to trading pursuant to an existing block listing, and will rank pari passu with the existing Ordinary Shares in issue.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

For further information:

Alliance Pharma plc + 44 (0)1249 466966

Peter Butterfield, Chief Executive Officer

Andrew Franklin, Chief Financial Officer

www.alliancepharma.co.uk

Buchanan + 44 (0)20 7466 5000

Mark Court / Sophie Wills / Hannah Ratcliff

Numis Securities Limited + 44 (0)20 7260 1000

Nominated Adviser: Freddie Barnfield, Huw Jeremy

Corporate Broking: James Black