Director Shareholding

Phytopharm PLC 10 December 2004 SCHEDULE 11 NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS 1) NAME OF COMPANY PHYTOPHARM PLC 2) NAME OF DIRECTOR DR D D REES 3) Please state whether notification indicates that it is in respect of holding of the shareholder named in 2 above or in respect of a non-beneficial interest or in the case of an individual holder if it is a holding of that person's spouse or children under the age of 18 or in respect of an non-beneficial interest AS 2 ABOVE 4) Name of the registered holder(s) and, if more than one holder, the number of shares held by each of them. (If notified) AS 2 ABOVE 5) Please state whether notification relates to a person(s) connected with the Director named in 2 above and identify the connected person(s) AS 2 ABOVE 6) Please state the nature of the transaction. For PEP transactions please indicate whether general/single co PEP and if discretionary/non discretionary GRANT OF SHARE OPTIONS UNDER THE PHYTOPHARM PERFORMANCE SHARE PLAN 2003 7) Number of shares/amount of stock acquired 8) Percentage of issued Class 9) Number of shares/amount of stock disposed 10) Percentage of issued Class 11) Class of security 12) Price per share 13) Date of transaction 14) Date company informed 15) Total holding following this notification 16) Total percentage holding of issued class following this notification IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE COMPLETE THE FOLLOWING BOXES 17) Date of grant 3 DECEMBER 2004 18) Period during which or date on which exercisable 3 DECEMBER 2007 TO 2 DECEMBER 2014 SUBJECT TO PERFORMANCE CRITERIA 19) Total amount paid (if any) for grant of the option NIL 20) Description of shares or debentures involved: class, number. 41,463 PHYTOPHARM PLC ORDINARY 1 PENCE SHARES 21) Exercise price (if fixed at time of grant) or indication that price is to be fixed at time of exercise 181.5 PENCE 22) Total number of shares or debentures over which options held following this notification 682,781 23) Any additional information PERFORMANCE CRITERIA ARE BASED ON TOTAL SHAREHOLDER RETURN COMPARED TO COMPARATOR GROUPS ON THE THIRD ANNIVERSARY OF GRANT. NO OPTIONS WERE VEST FOR BELOW MEDIAN PERFORMANCE, 25% VEST FOR MEDIAN PERFORMANCE AND 100% VEST FOR UPPER DECILE AND ABOVE WITH PRORATE VESTING BETWEEN MEDIAN AND UPPER DECILE PERFORMANCE. FOR 27,642 OPTIONS THE COMPARATOR GROUP COMPRISES 27 OTHER UK LISTED BIOTECH COMPANIES, AND FOR 13,821 OPTIONS THE COMPARATOR GROUP IS THE FTSE SMALL CAP INDEX. 24) Name of contact and telephone number for queries DR G W CHONG 25) Name and signature of authorised company official responsible for making this notification Date of Notification 9 DECEMBER 2004 END This information is provided by RNS The company news service from the London Stock Exchange

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