Rule 8.3 - SKYEPHARMA PLC

FORM 8.3
    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE
              (Rule 8.3 of the City Code on Takeovers and Mergers)


1.   KEY INFORMATION

Name of person dealing        BARCLAYS PLC
(Note 1)
Company dealt in              SKYEPHARMA PLC
Class of relevant security    GBP 0.10
to which the dealings being
disclosed relate (Note 2)
Date of dealing               19 JANUARY 2006


2.   INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a)  Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

                             Long                   Short

                           Number       (%)         Number       (%)

(1) Relevant            16,796,663  (2.23%)         748,392  (0.10%)
securities
(2) Derivatives          1,002,814  (0.13%)         204,655  (0.03%)
(other than
options)
(3) Options and                  0  (0.00%)               0  (0.00%)
agreements to
purchase/sell
Total                   17,799,477  (2.36%)         953,047  (0.13%)



(b)  Interests and short positions in relevant securities of the company, other
     than the class dealt in (Note 3)

Class of relevant security:           Long                 Short

                              Number               Number
                                              (%)                  (%)
(1) Relevant securities

(2) Derivatives (other than
options)

(3) Options and agreements
to purchase/sell

Total


(c)  Rights to subscribe (Note 3)

Class of relevant security:   Details



3.   DEALINGS (Note 4)

(a)  Purchases and sales

Purchase Number of Securities  Price per unit
/sale                          (GBP)
Purchase 20,000                0.4338
Sale     88,453                0.4329



In addition to the above, the following transactions have also taken place since
the last disclosure on 09 January 2006.

Transaction date   Purchase/sale      Number of Securities      Price per unit (GBP)
10 January 2006    Sale               28,747                    0.4874
11 January 2006    Purchase           5,070                     0.4876
11 January 2006    Purchase           8,075                     0.5000
11 January 2006    Sale               138,014                   0.4851
12 January 2006    Purchase           3,000                     0.4851
12 January 2006    Sale               4,000                     0.4859
12 January 2006    Sale               107,40                    0.4859
13 January 2006    Sale               40,000                    0.4825
13 January 2006    Sale               30,000                    0.4808
13 January 2006    Sale               200,851                   0.4823
16 January 2006    Purchase           87,150                    0.4819
16 January 2006    Sale               49,656                    0.4630
16 January 2006    Sale               42,619                    0.4700
17 January 2006    Purchase           14,603                    0.4464
17 January 2006    Purchase           297,014                   0.4478
17 January 2006    Purchase           30,000                    0.4400
17 January 2006    Sale               89,152                    0.4378
18 January 2006    Purchase           1,011                     0.4276
18 January 2006    Purchase           17,179                    0.4233
18 January 2006    Purchase           12,480                    0.4375
18 January 2006    Sale               61,207                    0.4374
18 January 2006    Sale               20,000                    0.4250




(b)  Derivatives transactions (other than options)

Product    Long/Short    Number of Securities  Price Per
name,      (Note 6)      (Note 7)              Unit (GBP)
e.g. CFD
CFD        Long          88,453                0.4329
CFD        Short         20,000                0.4338
CFD        Short         22,831                0.4230


In addition to the above, the following derivatives transactions have also
taken place since the last disclosure on 09 January 2006.

Transaction     Product Long/   Number of  Price Per Unit
date            name,   Short   Securities (GBP)
                e.g.CFD (Note6) (Note 7)
10 January 2006 CFD     Long    28,747     0.4874
11 January 2006 CFD     Long    138,014    0.4851
11 January 2006 CFD     Short   5,070      0.4876
11 January 2006 CFD     Short   8,075      0.5000
12 January 2006 CFD     Long    107,405    0.4859
12 January 2006 CFD     Short   3,000      0.4851
13 January 2006 CFD     Long    200,851    0.4823
13 January 2006 CFD     Long    30,000     0.4808
13 January 2006 CFD     Long    40,000     0.4825
16 January 2006 CFD     Long    42,619     0.4700
16 January 2006 CFD     Long    49,656     0.4630
16 January 2006 CFD     Short   87,150     0.4819
17 January 2006 CFD     Long    89,152     0.4378
17 January 2006 CFD     Short   297,014    0.4478
17 January 2006 CFD     Short   14,603     0.4464
17 January 2006 CFD     Short   30,000     0.4400
18 January 2006 CFD     Long    61,207     0.4374
18 January 2006 CFD     Long    20,000     0.4250
18 January 2006 CFD     Short   1,011      0.4276
18 January 2006 CFD     Short   17,179     0.4233
18 January 2006 CFD     Short   12,480     0.4375
18 January 2006 CFD     Short   21,978     0.4450


(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying

Product name,   Writing,          Number of          Exercise  Type, e.g.      Expiry   Option money
e.g. call       selling,          securities to      price     American,       date     paid/received
option          purchasing,       which the option             European etc.            per unit (Note
                varying etc.      relates (Note 7)                                      5)


(ii) Exercising

Product name, e.g. call  Number of securities    Exercise price per unit
option                                           (Note 5)



(d)  Other dealings (including new securities) (Note 4)


Nature of transaction    Details                 Price per unit (if
(Note 8)                                         applicable) (Note 5)



4.   OTHER INFORMATIONS

Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the
person disclosing and any other person relating to the voting rights of
any relevant securities under any option referred to on this form or
relating to the voting rights or future acquisition or disposal of any
relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.



Is a Supplemental Form 8 attached? (Note 9)                 NO


Date of disclosure                        20 JANUARY 2006
Contact name                              BARCLAYS CORPORATE SECRETARIAT
Telephone number                          020 7116 2913
If a connected EFM, name of
offeree/offeror with which connected
If a connected EFM, state nature of
connection (Note 10)


Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk