Class Action Filed Against Amylin Pharmaceuticals, Inc. On Behalf Of Shareholders Who Purchased Amylin Securities Between February 8, 2000 and July 25, 2001 by the Law Firm of Stull, Stull & Brody.

Business Editors & Legal Writers

LOS ANGELES--(BUSINESS WIRE)--Aug. 22, 2001

The following statement was issued today by the law firm of Stull, Stull & Brody:

A class action lawsuit was filed in United States District Court for the Southern District of California, on behalf of purchasers of Amylin Pharmaceuticals, Inc. ("Amylin" or the "Company") (NASDAQ:AMLN), securities between February 8, 2000 and July 25, 2001, inclusive (the "Class Period"). You may obtain a copy of the complaint from the Court or from Stull, Stull & Brody.

The complaint alleges that Amylin and certain of its officers and directors violated the Securities Exchange Act of 1934. Amylin is engaged in the discovery, development and commercialization of potential drug candidates for the treatment of metabolic disorders.

The complaint alleges that on July 25, 2001, the Food and Drug Administration ("FDA") released medical and statistical reviews regarding Amylin's diabetes drug pramlintide acetate (SYMLIN) prior to an FDA Advisory Committee Meeting scheduled for July 26, 2001. This review cited major concerns regarding the safety and lack of efficacy of SYMLIN. The review stated there were major adverse events upon treatment with SYMLIN and an alarming number of patients that had life altering events relating to hypoglycemia (low blood glucose level), including major trauma, accidents and death, many of which apparently were concealed from the safety database, making this database unreliable to the FDA. This hypoglycemic side effect was particularly surprising to the FDA and investors, as the Company all along had claimed that one advantage of SYMLIN over insulin was that it did not increase the risk of hypoglycemia. The public announcements and statements made during the Class Period were materially false and misleading when issued in that they falsely portrayed Amylin as a growing, successful, well-managed, law-abiding, well-controlled company, and a leader of its industry, and that it had a highly effective drug, SYMLIN.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Stull, Stull & Brody who has significant experience and expertise in prosecuting class actions on behalf of investors and shareholders.

If you are a member of the class described above, you may, no later than October 8, 2001, move the Court to serve as lead plaintiff, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of the other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to this matter, please contact: Marc L. Godino of Stull, Stull & Brody at 888-388-4605 or via e-mail at [e-mail] or on the law firm's web-site at www.secfraud.com.