Notice of Extraordinary General Meeting in Aerocrine AB

Notice of Extraordinary General Meeting in Aerocrine AB

The shareholders of Aerocrine AB (publ) are hereby invited to attend the
Extraordinary General Meeting to be held at 4.00 p.m. on Thursday 21
October 2010 at Sundbybergsvägen 9 in Solna.

Right to Attend and Notice of Attendance

Shareholders who wish to attend the EGM must be recorded in the share
register maintained by Euroclear Sweden AB on Friday 15 October 2010 and
notify the company of their intent to participate in the EGM no later
than Monday 18 October 2010, preferably before 3.00 p.m. The notice of
attendance is made by post to Aerocrine AB, Sundbybergsvägen 9, 171 21
Solna, Sweden, or by telephone +46 08‑629 07 80, or by telefax +46
08-629 07 81 or by email, info@aerocrine.com. On giving notice of
attendance, name, personal identity number or corporate identity number,
address and telephone number shall be stated. The same time and
addresses apply to notice of the number of attending assistants. Proxy,
registration certificates and other certificates of authorisations must
be available at the EGM, and may preferably be sent to the company
together with the notice of attendance. Any proxy shall be presented in
original and must not be older than one year. A form of proxy is
available on the company's website
www.aerocrine.comhttp://www.aerocrine.com/ (http://www.aerocrine.com/)
and may also be ordered from the company at the above address.

Shareholders having their shares registered in the name of a nominee
must, in order to be entitled to participate in the EGM, request to have
the shares registered in their own name on Friday 15 October 2010. Such
registration may be temporary.

Agenda of the Meeting

The Board's Proposal for Agenda

1.                   Opening of the Meeting

2.                   Election of Chairman of the Meeting

3.                   Preparation and approval of the voting list

4.                   Approval of the agenda

5.                   Election of one or two minutes-checkers

6.                   Determination whether the Meeting has been properly
convened

7.                   Election of board member

8.                   Closing of the Meeting

Election of board member (item 7)

In light of Novo A/S having become a major shareholder of the company
through the directed share issue resolved by the Board on 15 September
2010 by virtue of the authorisation by the general meeting, and that
Lars Gatenbeck in connection with the EGM will retire from the Board,
shareholders representing approximately 58.4 percent of the shares and
votes in the company have proposed that Scott Beardsley is elected new
ordinary Board member. The nomination committee has informed their
support of the proposal.

Scott Beardsley (born 1967) holds a MBA from UCLA's Anderson Graduate
School of Management and a Bachelor of Science in business
administration. Since 2009, Beardsley is a senior partner of Novo Growth
Equity, a division within Novo A/S, and previously inter alia led Piper
Jaffray's American biopharmaceutical investment banking practice and was
a member of the Health Care Group at Montgomery Securities.

General

At the time of this notice the total number of shares and votes in the
company amounts to 82,724,026.

Solna in October 2010

Aerocrine AB (publ)

The Board of Directors

For more information, contact:

Paul de Potocki, CEO, telephone: +46 8 629 07 80

Michael Colérus, CFO, telephone: +46 8 629 07 85