AGM Statement

Dechra Pharmaceuticals PLC
19 October 2005







Issued by Citigate Dewe Rogerson Ltd, Birmingham
Date: Wednesday, 19 October 2005
                                                               Immediate Release

                           Dechra Pharmaceuticals PLC

Annual General Meeting
At the Annual General Meeting held today (19 October), Michael Redmond, Chairman
confirmed that trading in the first quarter of the financial year was in line
with management expectations and that the Directors remain confident for the
year as a whole.

All Resolutions relating to Ordinary and Special Business were duly passed by
shareholders.

Adoption of International Financial Reporting Standards ('IFRS')
Dechra Pharmaceuticals PLC today announces separately the impact of conversion
to IFRS on its 2004/05 Financial Statements. The highlights are:

   • Adjusted pre-tax profit (before goodwill amortisation) increased by 3%
     from £9.4 million to £9.7 million.

   • Adjusted earnings per share increased by 2.8% from 13.39p to 13.77p.

   • Net assets at 30 June 2005 increased from £14.5 million to £17.6
     million.

   • No impact on cash flow or net debt.

   • No pension scheme deficit.

Simon Evans, Group Finance Director commented:
'It should be emphasised that conversion to IFRS represents accounting changes
only and has no impact on the economics of our business, its prospects, cash
flows or ability to pay dividends.

'The increase in adjusted pre-tax profit and earnings per share is principally
due to the capitalisation of development expenditure relating to our successful
product, Vetoryl(R) together with a small credit in respect of share-based
payments.

'The increase in net assets at 30 June 2005, is due to the elimination of
goodwill amortisation, capitalised development expenditure, an increase in the
deferred tax asset and the non-recognition of the final dividend.'

Enquiries:
Ian Page, Chief Executive                          Fiona Tooley, Director
Simon Evans, Group Finance Director                Katie Dale, Senior Account Manager
Dechra(R) Pharmaceuticals PLC                      Citigate Dewe Rogerson
Tel: [phone]                                  Tel: [phone]
Mobile: [phone] (IP) or 07775 642220 (SE)     Mobile: [phone] (FMT)
www.dechra.com





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