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Vectura Group PLC Re: Acquistion of Innovata

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

Vectura Group plc ("Vectura") and Innovata plc ("Innovata")

Recommended offer for Innovata by Vectura

Approval of Scheme of Arrangement by the Court

The boards of Vectura and Innovata are pleased to announce that, at a Court Hearing held earlier today, the Court sanctioned the Scheme of Arrangement and confirmed the related Reduction of Capital comprised within the Scheme. The Scheme is expected to become effective and the Acquisition of Innovata completed on registration of the Reduction of Capital by the Registrar of Companies and delivery to him of an office copy of the Court Order. This is now expected to take place on 17 January 2007.

Dealings in the New Vectura Shares issued to Innovata Shareholders pursuant to the Scheme are therefore expected to commence at 8:00 a.m. on 18 January 2007. 17 January 2007 will be the last day of dealings in Innovata Shares and it is expected that the Innovata Shares will be delisted at 8:00 a.m. on 18 January 2007.

It is expected that certificates in respect of the New Vectura Shares will be dispatched no later than 30 January 2007.

Terms used in this announcement have the same meaning as in the Admission Document which was sent to Vectura Shareholders and Innovata Shareholders on 24 November 2006.

Enquiries:

Piper Jaffray, which is authorised and regulated in the UK by the Financial Services Authority, is acting as Nominated Adviser and broker to Vectura in connection with the Proposal and no-one else and will not be responsible to anyone other than Vectura for providing the protections afforded to clients of Piper Jaffray nor for providing advice in relation to the Proposal nor any other matter referred to in this announcement.

Nomura Code, which is authorised and regulated in the UK by the Financial Services Authority, is acting as Financial Adviser and broker to Innovata in connection with the Proposal and no-one else and will not be responsible to anyone other than Innovata for providing the protections afforded to clients of Nomura Code nor for providing advice in relation to the Proposal nor any other matter referred to in this announcement.