Amylin receives notice of further director nominations

New York, Jan. 30 - Amylin Pharmaceuticals, Inc. said it received an additional notice that an investor plans to nominate a slate of five directors for election at the company's 2009 annual meeting in addition to the group that will be proposed by Icahn Capital LP.

The new notice comes from Amylin shareholder Black Bear Fund I, LP, a portfolio managed by Eastbourne Capital Management, LLC.

On Thursday, Icahn announced plans for a slate of directors. The Icahn group said it had had conversations with Amylin concerning board representation without reaching an agreement.

The Icahn investors beneficially own 11,426,157 shares, or 8.3%, of the company's common stock.

Amylin company said its corporate governance committee is engaged in a process to recommend a slate for election at the annual meeting and is reviewing potential nominees suggested by shareholders as part of that process, including two individuals previously discussed with representatives of the Icahn funds.

Amylin is a biopharmaceutical company based in San Diego.

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