Disclosure of Shareholdings in Accordance with Stock Market Rules

Geneva, Switzerland, 7 August 2008 - Addex Pharmaceuticals (SWX:ADXN)
announced today that on August 6, 2008, Varuma AG, Aeschenvorstadt
55, 4051 Basel, Switzerland, has informed of exceeding the threshold
of 3% in the shareholding of Addex Pharmaceuticals Ltd., holding a
total of 231,425 registered shares, corresponding to 3.95% of the
voting rights. The beneficiary of the shareholdings of Varuma AG is
Mr. Rudolf Maag, at Neuhofweg 11, 4102 Binningen, Switzerland.

About Addex

Addex Pharmaceuticals discovers and develops allosteric modulators
for human health. Allosteric modulators are an emerging class of
orally available small molecule therapeutic agents that we believe
will offer patients better results than classical drugs. Most
marketed drugs bind receptors where the body's own natural molecular
activators (i.e. endogenous ligands) bind, specifically to a key part
of each receptor's anatomy called the "active site". In short, most
drugs must out-compete endogenous ligands for the active site. By
contrast, allosteric modulators are non-competitive because they bind
receptors and modify their function even if the endogenous ligand
also is binding it. In addition, because of this, allosteric
modulators aren't limited to simply turning a receptor on or off, the
way most drugs are. Instead, they act more like a dimmer switch,
offering control over the degree of activation or deactivation, while
offering the body the ability to maintain control over initiating
receptor activation. Furthermore, the allosteric approach generally
affords freedom to operate - even on well-known, clinically validated
targets - because the intellectual property surrounding allosteric
chemistry and the allosteric sites on receptors is most often
un-exploited.

ADX10059, our most advanced product, is an mGluR5 NAM (metabotropic
glutamate receptor 5 negative allosteric modulator). It has
demonstrated clinically and statistically significant efficacy in
separate Phase IIa clinical trials in gastroesophageal reflux disease
(GERD) patients and migraine headache patients and has potential in
additional indications.

The Addex allosteric modulation discovery and development platform
have been additionally validated through three seperatate product
license or collaboration agreements with Merck & Co., Inc. and
Johnson & Johnson as well as investments by Roche Ventures and SR
One, the venture investment arm of GlaxoSmithKline.
Contacts

Chris Maggos
Head of IR & Communications
Addex Pharmaceuticals
+41 22 884 15 11
chris.maggos@addexpharma.com

Disclaimer
The foregoing release contains forward-looking statements that can be
identified by terminology such as "not approvable", "continue",
"believes", "believe", "will", "remained open to exploring", "would",
"could", or similar expressions, or by express or implied discussions
regarding Addex Pharmaceuticals Ltd, its business, the potential
approval of its products by regulatory authorities, or regarding
potential future revenues from such products. Such forward-looking
statements reflect the current views of Addex Pharmaceuticals Ltd
regarding future events, and involve known and unknown risks,
uncertainties and other factors that may cause actual results with
allosteric modulators of mGluR4, mGluR2, mGluR5 or other therapeutic
targets to be materially different from any future results,
performance or achievements expressed or implied by such statements.
There can be no guarantee that allosteric modulators of mGluR4,
mGluR2 or mGluR5 will be approved for sale in any market or by any
regulatory authority. Nor can there be any guarantee that allosteric
modulators of mGluR4, mGluR2, mGluR5 or other therapeutic targets
will achieve any particular levels of revenue (if any) in the future.
In particular, management's expectations regarding allosteric
modulators of mGluR4, mGluR2, mGluR5 or other therapeutic targets
could be affected by, among other things, unexpected actions by our
partners, unexpected regulatory actions or delays or government
regulation generally; unexpected clinical trial results, including
unexpected new clinical data and unexpected additional analysis of
existing clinical data; competition in general; government, industry
and general public pricing pressures; the company's ability to obtain
or maintain patent or other proprietary intellectual property
protection. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those anticipated, believed,
estimated or expected. Addex Pharmaceuticals is providing the
information in this press release as of this date and does not
undertake any obligation to update any forward-looking statements
contained in this press release as a result of new information,
future events or otherwise.
Copyright © Hugin AS 2008. All rights reserved.