Underwriters exercise over-allotment option in Amarin ADS public offering

Jan 7 2011

Amarin Corporation plc (Nasdaq: AMRN) (the "Company"), a clinical-stage biopharmaceutical company with a focus on cardiovascular disease, today announced that, in connection with its previously announced underwritten public offering of American Depositary Shares ("ADSs"), the underwriters of the offering have exercised in full their option to purchase up to an aggregate of 1,800,000 additional ADSs to cover over-allotments.  The exercise of the over-allotment option increases the size of the offering to an aggregate of 13,800,000 ADSs at a public offering price of $7.60 per ADS. Amarin expects to receive from the offering net proceeds of approximately $100.2 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The offering, including the purchase of the additional ADSs, is expected to close on or about January 11, 2011, subject to customary closing conditions.

Jefferies & Company, Inc. and Leerink Swann LLC are acting as joint book-running managers in the offering, and Canaccord Genuity Inc. is acting as co-lead manager for the offering. Amarin anticipates using the net proceeds from the offering to prepare for the commercialization of AMR101, its filing of a New Drug Application and for working capital and general corporate purposes.

The securities described above are being offered by Amarin pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on November 23, 2010. Copies of the base prospectus, preliminary prospectus supplement and related prospectuses relating to these securities may be obtained from Equity Syndicate Prospectus Department, Jefferies & Company, Inc., 520 Madison Avenue, 12th Floor, New York, NY, 10022, at 877-547-6340, and at [email protected]. Electronic copies of the base prospectus, preliminary prospectus supplement and related prospectuses for the offering are also available on the SEC's website, www.sec.gov.

SOURCE Amarin Corporation plc