Alliance Pharma Regulatory News (APH)

For immediate release 3 December 2015

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

ALLIANCE PHARMA PLC

("Alliance" or the "Company")

Placing Update: Exercise of Broker's Option

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, announces that, further to the Placing announced on 26 November 2015, Numis Securities Limited has exercised the Option in respect of 12,195,121 Ordinary Shares (the "Option Shares").

The Option Shares are being issued at a price of 41p per Option Share (being equal to the Placing Price) and will be issued on the same terms and conditions as other Ordinary Shares pursuant to the Placing. All of the proceeds of £5.0 million arising from the issue of the Option Shares will, after deduction of commissions and expenses, be received by the Company.

Application will be made to the London Stock Exchange for the 12,195,121 Option Shares to be admitted to trading on AIM. Admission of the Option Shares to trading on AIM is expected to take place at 8.00am on Thursday 17 December 2015, at the same time as the Admission of the Placing Shares.

Capitalised terms used in this announcement have the meanings given to them in the announcement of the Placing dated 26 November 2015.

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Notes to editors:

About Alliance

Alliance, founded in 1998, is an AIM listed speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has a strong track record of acquiring the rights to established niche products and owns or licenses the rights to more than 60 pharmaceutical products and continues to explore opportunities to expand the range.