Notification of Major Interest in Shares

For Immediate Release

22 February 2010

TR - 1:

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

ALLIANCE PHARMA PLC (ISIN: GB0031030819)

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

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

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Changes to disclosure requirements

X

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

NIGEL WILLIAM WRAY

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

PERSHING NOMINEES LIMITED

SMITH & WILLIAMSON NOMINEES LIMITED

ROY NOMINEES LIMITED

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

22 FEBRUARY 2010

6. Date on which issuer notified:

22 FEBRUARY 2010

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

10%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

ORDINARY SHARES

GB0031030819

21,469,995

21,469,995

24,319,995

10.95%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period xiv

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date xvii

Exercise/ Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

24,319,995

10.95%

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

Nigel William Wray has a beneficial interest in shares in Alliance Pharma Plc held by the following nominees

Pershing Nominees Limited 8,705,407

Smith & Williamson Nominees Limited 50,000

ROY NOMINEES LIMITED - 15,564,588

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:

N/A

14. Contact name:

Nigel Wray

15. Contact telephone number:

020 7647 7647