Napo Pharmaceuticals, Inc

('Napo' or 'the Company')

Results of Special Meeting of Stockholders

South San Francisco, California, 18 September 2008 - Napo Pharmaceuticals, Inc., (LSE: NAPL and NAPU) is pleased to announce that at the Special Stockholders' Meeting held yesterday (the 'Stockholders' Meeting') the following resolutions were proposed and passed:

• the cancellation of listing on the Official List of the Company's shares in the common stock of the Company with a par value of US$0.0001 each (the 'Common Shares');

• the adoption of new Bylaws in substitution for and to the exclusion of the current Bylaws. The new Bylaws do not inter alia provide for pre-emption rights;

• the increase in the authorized number of Common Shares from 90 million to 115 million; and

• the authorization of the Board to effect a reverse stock split of the Common Shares in a ratio ranging from one-for-two to one-for-five of all of the Company's then issued and outstanding Common Shares, the final ratio to be determined at the discretion of the Board when declared, if ever.

The resolutions numbered two to four above will come into effect immediately following the cancellation of the Company's listing on the Official List.  

Consequently the Company gives notice of its intention to cancel the listing of its Common Stock on the Official List. It is anticipated that trading in the Common Stock on the London Stock Exchange's main market for listed securities will cease at the close of business on 15 October 2008, with the cancellation of the listing on the Official List taking effect at 8.00 a.m. on 16 October 2008 (such date being not less than 20 Business Days following the passing of the delisting resolution as required by the Listing Rules).

Two copies of the resolutions passed at the Stockholders' Meeting shall be submitted to the Financial Services Authority (the 'FSA') today and will be available for inspection at the FSA Document Viewing Facility from tomorrow, which is situated at:

The Financial Services Authority

25 The North Colonnade

Canary Wharf

London

E14 5HS

Tel: 020 7066 1000

Defined terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Circular sent to shareholders and dated 5 September 2008.

For more information please contact: 

Napo Pharmaceuticals, Inc. 
Lisa Conte, Chief Executive Officer 
(001) + 650 616 1902 

Charles Thompson, Chief Financial Officer 
(001) + 650 616 1903

Buchanan Communications 
(44) + 020 7466 5000 
Tim Anderson, Mary-Jane Johnson