Director Shareholding

Alliance Pharma PLC
19 February 2004

For immediate release: 19 February 2004


                              ALLIANCE PHARMA PLC

                         ('Alliance' or 'the Company')



                            DIRECTOR'S SHARE DEALING



On 16 February 2004, Michael Gatenby, the newly appointed non-executive Chairman
of Alliance Pharma plc, purchased 40,000 shares at 23p representing 0.03 per
cent of the total issued share capital.  The purchase represents the total
amount of his holding in the Company.





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For further information please contacts:



Alliance Pharma plc

John Dawson, CEO

01249 466966



Beattie Financial

James Chandler/Mike Wort

020 7398 3300


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