Vernalis PLC Regulatory News (VER)

24 Dec 2008 12:00



TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

Vernalis PLC

2. Reason for the notification (please place an X inside the appropriate bracket/s):

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 the notification obligation (iii):

BVF Partners LP

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

Morgan Stanley & Co - 49,287,000

JP Morgan Bear Stearns Securities Corp - 39,681,967

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

Not disclosed

6. Date on which issuer notified:

23rd December 2008

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

24%

8. Notified details:

N/A

A: Voting rights attached to shares

Resulting situation after the triggering transaction (vii)

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

Total (A+B)

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

N/A

Proxy Voting:

10. Name of the 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:

The further persons mentioned above who are interested in these shares are BVF Inc (the general partner of BVF Partners LP) and Mark Lampart, the controlling shareholder of BVF Inc.

14. Contact name:

JAD Slater, Chief Operating Officer

15. Contact telephone number:

0118 977 3133