Strategic Review

Ardana PLC
03 December 2007


                ARDANA PLC ANNOUNCES OUTCOME OF STRATEGIC REVIEW


Edinburgh, UK, December 3 2007: Ardana Plc (LSE:ARA), the pharmaceutical company
focused on improving human reproductive health, today announces the initial
findings of the strategic review of the Company's activities.

The review has placed considerable emphasis on the ongoing development and
commercialisation of the Company's late stage products in order to maximise
shareholder value in an acceptable period of time. A key feature of the review
is ensuring that any further investment is directed towards those areas with the
greatest potential return whilst conserving cash.

The highlights of the review are as follows:

Focus on key clinical development projects and near term commercialisation
products

     o   Teverelix LA in prostate cancer, benign prostatic hyperplasia (BPH) and
         endometriosis, in all markets

     o   Testosterone Cream for the treatment of hypogonadism with particular
         focus on the US market

     o   ARD-07, growth hormone secretagogue in the diagnosis of growth hormone
         deficiency, in the United States

     o   ARD-07, growth hormone secretagogue in adults and children requiring
         treatment with growth hormone, in particular idiopathic short stature in
         children, in all markets

Projects with lower priority placed on hold

     o   ARD-07 in the diagnosis of growth hormone deficiency in Europe due to
         the probable requirement for an additional comparator study and the 
         relatively small size of the opportunity

     o   Development of terbutaline vaginal gel

     o   Development of the fizzy tablet platform technology

Strengthening of Business Development Function

There will be an increased focus on creating business development opportunities
for the Company's most attractive clinical development projects and near term
commercialisation candidates highlighted above. In order to augment Ardana's
business development capability the Company has appointed John Dawson as SVP
Corporate Strategy for a defined period.  John's most recent appointment was as
CFO and Head of Business Development, Europe for Cephalon Inc. where he served
for 11 years in various senior roles including Vice President Pharmaceutical
Operations, Europe. Prior to joining Cephalon, John spent five years as Finance
Director for Serono UK. The areas of focus for John and his team will be:

     o   The completion of a strategic development alliance for Teverelix LA

     o   Seeking partnerships, particularly in the USA, for Testosterone Cream
         for the treatment of male hypogonadism

     o   Seeking a partnership in the USA for ARD-07 which is in Phase III as a
         diagnostic agent for growth hormone deficiency

     o   An emphasis on out-licensing of the Company's marketed product
         portfolio in continental Europe

     o   Exploration of alternative means of funding the development of ARD-07
         in therapeutic indications

The Company will consider a wide range of options for delivery of these business
development imperatives ranging from local commercial partnerships to M&A
activity.

Board composition

Following the move of Huw Jones from non-executive Director to Chief Executive
Officer, the Company is evaluating the composition of the Board.

Other business areas

Ardana is continuing to review additional aspects of its business strategy and
expects to report on further developments in due course.

Commenting on today's announcement, Ardana's CEO, Dr Huw Jones, said:  'The
results of our strategic review will focus the Company's efforts and resources
on the high-value, near term opportunities in our pipeline such as Teverelix LA,
in our two lead indications, and Testosterone Cream, both of which have recently
reported strong clinical results.

'In addition, we are pleased to welcome John Dawson to Ardana, his appointment
substantially enhances our Business Development capability and we are now well
positioned to focus on the delivery of significant shareholder value.  We look
forward to the implementation of our review.'


For more information contact:

Ardana                                   Financial Dynamics
Dr Huw Jones                             (corporate/financial media relations)
Tel: + 44 (0) 131 226 8550               Julia Phillips/Emma Thompson
                                         Tel: [phone]



About Ardana

Ardana plc is a pharmaceutical company focused on the discovery, development and
marketing of innovative products to improve human reproductive health, a $25.5
billion market.

Since its foundation, Ardana has built a broad and balanced portfolio to manage
risk and actively pursues product and technology in-licensing and outlicensing
to maintain a robust pipeline.

Ardana's lead products are summarised below:

     •  Teverelix LA, in development for three initial indications (prostate
        cancer, benign prostatic hyperplasia and endometriosis);

     •  ARD-0705 a growth hormone secretagogue in Phase III for the diagnosis of
        growth hormone deficiency in adults

     •  Testosterone Cream, a transdermal testosterone delivery system in
        development for the treatment of male hypogonadism, in Phase III trials;

     •  Emselex(R), a once a day treatment for the symptoms of overactive 
        bladder syndrome, which Ardana has exclusive UK marketing and promotion 
        rights and is being distributed in collaboration with Novartis UK 
        Limited;

     •  StriantTM SR, a testosterone replacement therapy that has been launched 
        by Ardana through its own sales force in the UK and through marketing 
        partners in certain European countries, as a treatment for men with 
        confirmed hypogonadism;

     •   InvicorpTM, an injectable combination drug treatment for erectile
         dysfunction, for which Ardana has marketing and manufacturing rights in
         Europe and has been launched in Denmark.

In addition, Ardana has a strong portfolio of follow-on products in research.
Ardana is listed on the Main Market of the London Stock Exchange.

For further information please see www.ardana.co.uk



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