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Lipoxen PLC (XEN)

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Thursday 14 December, 2006

Lipoxen PLC

Update Shareholding & Options

Lipoxen PLC
14 December 2006

                          Lipoxen PLC (the 'Company')

                    Issue of Options and holding in Company

On 8 December 2006, the Company granted an option to Sir Brian Richards, the
Company's non-executive chairman, over 101,743 ordinary shares of the Company
(representing 0.09% of the current issued and outstanding shares of the Company)
at an exercise price of 0.7p per ordinary share.  Pursuant to Sir Brian
Richards' appointment letter dated May 2005 as non-executive chairman of Lipoxen
Technologies Limited, currently a wholly owned subsidiary of the Company
('LTL'), Sir Brian Richards was entitled to receive the option (albeit over
ordinary shares in LTL) nine months' after the Company's admission to AIM
('Admission').  At Admission, the Company adopted the Lipoxen plc Unapproved
Share Option Scheme ('Lipoxen plc Scheme') and holders of options in LTL shares
(including Sir Brian) were entitled to roll-over their options into the Lipoxen
plc Scheme, subject to certain conditions.

Sir Brian's option is exercisable subject to and in accordance with the rules of
the Lipoxen plc Scheme pursuant to which an option may be exercised between the
first and tenth anniversary of the date of grant.

The Company also wishes to announce that it was informed on 13 December 2006
that as of the close of business on 12 December 2006, Serum Institute of India
Ltd. had an interest in 20,395,165 ordinary shares of the Company, representing
17.67% of the Company's current issued and outstanding ordinary shares.

14 December 2006

                      This information is provided by RNS
            The company news service from the London Stock Exchange