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Results of Court Meeting and Innovata EGM

The Board of Innovata announces that at the Court Meeting held earlier today, Innovata Shareholders voted by the requisite majority to approve the Scheme to implement the recommended Acquisition of Innovata by Vectura Group plc. In addition, the special resolution proposed at the subsequent Innovata EGM was duly passed. Upon the Scheme becoming effective, Innovata Shareholders will receive 0.2858 new Vectura Shares for each existing Innovata Share. Fractions of new Vectura Shares will be rounded down to the nearest whole number.

The hearing of the petition to the Court to sanction the Scheme and to confirm the related Capital Reduction is expected to take place on 15 January 2007. Subject to the Court sanctioning the Scheme and confirming the related Capital Reduction, and the satisfaction of certain other outstanding Conditions, the Effective Date of the Scheme is expected to be 16 January 2007. Innovata Shares are expected to cease to settle in CREST as of 4.30 p.m. (London time) on 15 January 2007 and delisting of Innovata Shares on the Official List and on trading on the London Stock Exchange are expected on 8.00am on 16 January 2007. It is expected that the new Vectura Shares to be allotted to existing Innovata Shareholders pursuant to the Scheme will be admitted to trading on AIM on the 16 January 2007.

Copies of the special resolution passed at the Innovata EGM have been submitted to the UK Listing Authority and are available for inspection by the public from tomorrow at the offices of Bird & Bird which is situated at 90 Fetter Lane, London, EC4A 1JP (tel. no. +44 (0) 20 7415 6000) during normal business hours on any weekday (public holidays excepted) until the date on which the Scheme becomes effective.

Unless otherwise stated, all references to time in this announcement are to London time. The dates in this announcement are indicative only. These dates depend, amongst other things, on the date upon which the Court sanctions the Scheme and confirms the Capital Reduction, the date on which the Court Order is delivered to the Registrar and whether the Conditions are satisfied or, if capable of waiver, waived.

Capitalised terms used and not otherwise defined in this announcement have the meanings ascribed to them in the document sent to shareholders of Innovata dated 24 November 2006.

Enquiries:

Nomura Code Securities Ltd, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Innovata and no-one else in connection with the Proposal and will not be responsible to anyone other than Innovata for providing the protections afforded to clients of Nomura Code Securities Limited nor for providing advice in relation to the Proposal.

This announcement does not constitute an offer to sell or an invitation to purchase or subscribe for any securities or the solicitation of an offer to buy or subscribe for any securities. Any response in relation to the Acquisition should be made only on the basis of the information contained in the Scheme Document or any document by which the Offer is made.