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Lipoxen PLC (XEN)

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Wednesday 22 February, 2006

Lipoxen PLC

Director's Options

Lipoxen PLC
22 February 2006


                          Lipoxen PLC (the 'Company')

                         Issuance of Director's Options

As previously disclosed in the Company's admission document dated 23 December
2005, the Company has granted an option to Scott Maguire, the Company's Chief
Executive Officer, over 6,575,366 ordinary shares of the Company (representing
6.75% of the issued and outstanding shares of the Company as at admission) at an
exercise price of 1p per ordinary share. The option is not exercisable in whole
or in part prior to 17 January 2008 without, among other things, the prior
written consent of the majority of the directors (excluding Mr Maguire) of the
Company.

22 February 2006



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