Holding(s) in Company

Phytopharm PLC
17 December 2004


Re: Disclosure of interests in shares


In accordance with Section 198-202 of the UK Companies Act 1985, Polygon
Investment Partners LLP and Polygon Investment Partners LP, which act on behalf
of Polygon. Opportunities Master Fund, informed us on 13th December 2004 that
they no longer have a notifiable interest in the relevant share capital of
Phytopharm plc.



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