Galapagos NV issues new shares

Dec 7 2009

Galapagos NV (Euronext: GLPG) announced today a capital increase of EUR 902,564 and the issue of 225,641 new shares as a result of the exercise of warrants by Galapagos warrant holders, including CEO Onno van de Stolpe. Mr. van de Stolpe obtained 210,766 new shares as a result of the exercise of warrants and now holds 290,976 shares in Galapagos, representing 1.23% of total outstanding shares.

Since its inception in 1999, Galapagos has used warrant plans as an incentive and to allow personnel and management to be involved in the Company's growth and development. The warrants exercised were granted in March 2002 and April 2003 under the Warrant Plan Belgium 2002 with a warrant exercise price of EUR 4.00 to obtain one share and a life time of 8 years. The warrants granted in March 2002 will expire in March 2010 and the last window during which they could be exercised was the window that ended on 30 November 2009. In September 2009 Mr. van de Stolpe committed to making use of this last possible window to exercise all warrants granted to him in March 2002. Mr. van de Stolpe still holds all Galapagos shares that he has acquired through the market and warrant exercises.

With this capital increase, Galapagos now has 23,610,820 shares outstanding and a share capital of EUR 127,723,203.20.