Director Shareholding

Fulcrum Pharma PLC
12 August 2004

                       Fulcrum Pharma Plc ('the Company')

The Company was informed yesterday that Mr Geoffrey Smith, Finance Director,
beneficially acquired on 9 August 2004 300,000 ordinary shares at a price of
4.25p. Mr Smith now holds 653,333 ordinary shares representing 0.5% of the
issued share capital of the Company. The Company was also informed that Mrs
Court the wife of Mr Court, a Director of the Company, had gifted 327,000
ordinary shares to various relatives and now holds 173,000 ordinary shares
representing 0.1% of the issued share capital of the Company.



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