Ardana Result of EGM

Edinburgh, UK, 12 October 2006 – Ardana plc (LSE: ARA.L) (“Ardana or the Company”) confirms that all resolutions put to the Extraordinary General Meeting held on 12 October 2006 were duly passed.

The 9,585,380 New Ordinary Shares of 1 penny each in the Company to be issued pursuant to the Placing and Open Offer at a price of 115 pence per share are expected to be admitted to the Official List and to trading on the London Stock Exchange’s main market for listed securities tomorrow, 13 October 2006. Following admission of the New Ordinary Shares, there will be in issue 65,268,939 Ordinary Shares in the Company.

Full details of the Placing and Open Offer are set out in the prospectus published on 20 September 2006 (the “Prospectus”).

Terms defined in the Prospectus have the same meaning in this announcement. A copy of the Prospectus has been submitted to the FSA, and is available for inspection at the FSA’s Document Viewing Facility, which is situated at: Financial Service Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS.

Monies raised by the Placing and Open Offer will be used to develop Oral GHS (EP01572) the Company’s oral growth hormone secretagogue and also to launch and promote Emselex ® , a treatment for overactive bladder, for which agreement has been reached with Novartis Pharmaceuticals UK Limited to grant Ardana sole and exclusive rights to launch and promote the product in the UK for a ten year term.

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