Loan Stock Interest Payment

Alliance Pharma PLC
12 February 2004

Alliance Pharma PLC

Alliance Pharma Plc ('Alliance') announces that the first interest payment of
£1.49 (less income tax, where applicable) on its 8 per cent Convertible
Unsecured Subordinated Loan Stock, in respect of the period from the date of
issue to 28 February 2004  will be paid on 28 February 2004 to holders on the
register on 20 February 2004.


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