Pharmexa, reduction in share capital by reducing face value with effect from 20 December 2007

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| Source: Nasdaq Copenhagen A/S
multilang-release
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|                                      |          Copenhagen, 18 December 2007 |
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Pharmexa A/S - reduction in share capital by reducing face value                

The share capital of Pharmexa will be reduced by reducing the face value of each
share, cf. adoption made on the extraordinary general meeting on 17 December    
2007. The changes will be implemented with effect from 20 December 2007:        

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| ISIN                      | Name                                             |
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| DK0015966592              | Pharmexa                                         |
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For further information, please see announcements published by Pharmexa, e.g.   
announcement of 17 December 2007.                                               

For further information, please contact: Asta Jepsen, Surveillance, tel. +45 33 
93 33 66                                                                        
ISIN: DK0015966592 (VP: 1596659)                                                

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| Name:                               | Pharmexa                               |
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| Volume before capital reduction:    | 41,454,395 shares of DKK 10 (DKK       |
|                                     | 414,543,950)                           |
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| Capital reduction:                  | DKK 207,271,975                        |
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| Volume after capital reduction:     | 41,454,395 shares of DKK 5 (DKK        |
|                                     | 207,271,975)                           |
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| Face value:                         | DKK 5                                  |
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| Short name:                         | PHARMX                                 |
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| Share type:                         | AKTIE                                  |
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GENERAL INFORMATION                                                             

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| Name/bearer:                        | Name                                   |
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| Voting rights on listed shares:     | Full                                   |
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| Financial year:                     | 1 January - 31 December                |
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| Unlisted share capital after        | DKK 0                                  |
| changes:                            |                                        |
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| Amendment of Articles registered:   | Yes                                    |
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| Issuing bank:                       | Danske Bank A/S                        |
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| Trading lot:                        | 1000                                   |
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| CBR no.:                            | 14 53 83 72                            |
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| GICS:                               | 35 20 10 10                            |
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| Type:                               | 11+25                                  |
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