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Amylin Pharmaceuticals Announces Exercise of Over-Allotment Option by Underwriters.

Amylin Pharmaceuticals, Inc. today announced the exercise by its underwriters of an over- allotment option to purchase 1,342,168 shares of common stock associated with its follow-on stock offering which priced on January 16, 2003. Including the over-allotment shares, the offering will total 10,542,168 shares at $16.60 per share, resulting in expected net proceeds to the company of approximately $164 million.

Goldman, Sachs & Co. acted as book running and joint lead manager for the offering. Other joint lead managers of the offering were Lehman Brothers, Morgan Stanley and Banc of America Securities LLC. Fortis Securities Inc. acted as co-manager for the offering.

Copies of the final prospectus supplement relating to the offering may be obtained from the Prospectus Departments of Goldman, Sachs & Co. (85 Broad Street, New York, New York 10004, phone 212-902-1171, fax 212-902-9316), Lehman Brothers (Lehman Brothers c/o ADP Financial Services Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717, phone 631-254-7106, fax 631-254-7268), Morgan Stanley & Co. Incorporated (1585 Broadway, New York, New York 10036, phone 212-761-6775, fax 212-761-0211) and Banc of America Securities LLC (Prospectus Department, 600 Montgomery Street, 6th Floor, San Francisco, California 94111, phone 415-627-2220, fax 415-913-5567).

Amylin Pharmaceuticals is engaged in the discovery, development and commercialization of potential drug candidates for the treatment of diabetes and other metabolic diseases.

CONTACT: Mark G. Foletta, Vice President of Finance and Chief Financial Officer of Amylin Pharmaceuticals, Inc., +1-858-552-2200, http://www.amylin.com/

Web site: http://www.amylin.com/
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Publication:PR Newswire
Geographic Code:1USA
Date:Jan 22, 2003
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