Placing of shares

Allergy Therapeutics PLC 16 March 2005 Allergy Therapeutics plc (the "Company") Change in shareholding Allergy Therapeutics, the specialty pharmaceuticals company focused on allergy vaccines, has today (Wednesday) received notification from ING Bank NV ("ING") and Elan International Services Limited ("Elan") that they no longer have an interest in the Company's share capital. As set out in the Company's Admission Document dated 6 October 2004, both ING and Elan had undertaken not to dispose of their holdings in the Company until 11 October 2005. The Company and KBC Peel Hunt agreed to release ING and Elan from this undertaking and KBC Peel Hunt have placed with institutional investors ING and Elan's combined holding of 13,142,001 ordinary shares, and a further 920,000 ordinary shares released from certain other shareholder undertakings, representing in aggregate 22.34 per cent. of the issued share capital. Keith Carter, Chief Executive of Allergy Therapeutics, said: "ING and Elan have been very supportive shareholders, but their exit enables us to welcome new institutional shareholders to Allergy to participate in the next phase of our growth as a public company." 16 March 2005 This information is provided by RNS The company news service from the London Stock Exchange