Press Release Half Yearly Report Basingstoke, UK and Philadelphia, US - August 7, 2008 - In order to meet its obligations under the Disclosure Rules and Transparency Rules of the United Kingdom Financial Services Authority, Shire Limited ("Shire") is publishing today its Half Yearly Report for the six months ended June 30, 2008.

It should be noted that on July 31, 2008 Shire previously announced its results in respect of the same period.

For further information please contact:

Investor Relations Cléa Rosenfeld (Rest of the World) +44 1256 894 160 Eric Rojas (North America) +1 484 595 8252 Media Jessica Mann (Rest of the World) +44 1256 894 280 Matthew Cabrey (North America) +1 484 595 8248 Notes to editors SHIRE LIMITED

Shire's strategic goal is to become the leading specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit and hyperactivity disorder (ADHD), human genetic therapies (HGT) and gastrointestinal (GI) diseases as well as opportunities in other therapeutic areas to the extent they arise through acquisitions. Shire's in-licensing, merger and acquisition efforts are focused on products in specialist markets with strong intellectual property protection and global rights. Shire believes that a carefully selected and balanced portfolio of products with strategically aligned and relatively small-scale sales forces will deliver strong results.

For further information on Shire or to view this Half Yearly Report, please visit the Company's website: www.shire.com

THE "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Statements included herein that are not historical facts are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, the Company's results could be materially affected. The risks and uncertainties include, but are not limited to, risks associated with: the inherent uncertainty of pharmaceutical research, product development, manufacturing and commercialization including, but not limited to, the establishment in the market of VYVANSE*„¢ (lisdexamfetamine dimesylate) (Attention Deficit and Hyperactivity Disorder ("ADHD")); the impact of competitive products, including, but not limited to, the impact of those on the Company's ADHD franchise; patents, including but not limited to, legal challenges relating to the Company's ADHD franchise; government regulation and approval, including but not limited to the expected product approval date of INTUNIV*„¢ (guanfacine extended release) (ADHD); the Company's ability to secure new products for commercialization and/or development; the Company's proposed offer for Jerini AG, including but not limited to, the Company's ability to successfully complete the offer and integrate Jerini AG, as well as realize the anticipated benefits of the acquisition; and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2007. The following are trademarks either owned or licensed by Shire Limited or its subsidiaries which are the subject of trademark registrations in certain territories, or which are owned by third parties as indicated and referred to in this Half Yearly Report: Shire Product Active ingredient ADDERALL® XR (mixed salts of a single-entity amphetamine) ADDERALL® (mixed salts of a single-entity amphetamine) AMIGAL® (migalastat hydrochloride) (trademark of Amicus Therapeutics ("Amicus")) CALCICHEW® range (calcium carbonate with or without vitamin D3) CARBATROL® (carbamazepine - extended-release capsules) COMBIVIR® (lamivudine) (trademark of GlaxoSmithKline ("GSK")) DAYTRANA*„¢ (methylphenidate transdermal system) DYNEPO® (epoetin delta) (trademark of Sanofi-Aventis) ELAPRASE® (idursulfase) EPIVIR® (lamivudine) (trademark of GSK) EPZICOM®/KIVEXA (lamivudine) (trademark of GSK) (EPZICOM) FIRAZYR® (icatibant) (trademark of Jerini AG ("Jerini")) FOSRENOL® (lanthanum carbonate) INTUNIV® (guanfacine - extended release) JUVIDEXTM (mannose-6-phosphate) (trademark of Renovo) JUVISTA® (human TGFβ3) (trademark of Renovo) LIALDA® (mesalamine) METAZYM*„¢ (arylsulfatase-A) MEZAVANT*„¢ (mesalazine) PENTASA® (mesalamine) (trademark of Ferring) PLICERA® (isofagomine tartrate) (trademark of Amicus) PREVASCARTM (human recombinant interleukin-10) (trademark of Renovo) RAZADYNE® (galantamine) (trademark of Johnson & Johnson ("J&J")) RAZADYNE® ER (galantamine) (trademark of J&J) REMINYL® (galantamine hydrobromide) (UK and Republic of Ireland) REMINYL® (galantamine) (trademark of J&J, excluding UK and Republic of Ireland) REMINYL XL*„¢ (galantamine hydrobromide) (UK and Republic of Ireland) REMINYL XL*„¢ (galantamine) (trademark of J&J, excluding UK and Republic of Ireland) REPLAGAL® (agalsidase alfa) SEASONIQUE® (trademark of Barr Laboratories Inc. ("Barr")) VYVANSE*„¢ (lisdexamfetamine dimesylate) XAGRID® (anagrelide hydrochloride) ZEFFIX (lamivudine) (trademark of GSK) ZESTEEM® (17β estradiol) (trademark of Renovo) 3TC (lamivudine) (trademark of GSK) CHIEF EXECUTIVE OFFICER'S REVIEW "We are pleased to enclose our financial results for the six-month period ended June 30, 2008. This half yearly report includes consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP).

We continue to deliver strong growth and broaden our business in specialty biopharmaceuticals. Our product sales for the first six months of this year were up 38% on the same period last year with sales of new products now comprising 34% of total product sales. At $780m, product sales excluding ADDERALL XR were up 69% reflecting the success of our strategy to build a pipeline and portfolio for Shire's future growth.

We are pleased with the performance of ELAPRASE, FOSRENOL, LIALDA, REPLAGAL and VYVANSE and are looking forward to the continued growth of VYVANSE in the US supplemented by the recent launch of the adult indication, the additional dosage strengths and the back-to-school season.

We have decided to commence a phased discontinuation of DYNEPO. Resources supporting this product will be redirected to faster growing, profitable core global products.

Since the beginning of this year we have made two major acquisitions adding to our strong products portfolio. In April we announced that we had acquired, from Zymenex A/S, global rights to the Phase 1-2 clinical candidate arylsulfatase-A, currently known as METAZYM, investigated for use in the treatment of Metachromatic Leukodystrophy. This candidate complements Shire's existing expertise in enzyme replacement therapies for the treatment of lysosomal storage disorders and further strengthens our clinical pipeline. More recently in July, we announced the proposed voluntary take over of German based company Jerini AG, which is expected to complete in Q3. Jerini is an excellent match for our business and we expect to benefit from both near term revenues and long term growth. The recent EU approval of Jerini's orphan drug FIRAZYR reinforces our confidence in this product. In addition to METAZYM and FIRAZYR, we have acquired six new products since the start of 2007 which support delivery of our long term strategy. Shire is in line to deliver another set of excellent results for 2008 and is upgrading its full year guidance for total revenue growth from the mid to high teens to at least 20%." Angus Russell Chief Executive Officer BUSINESS OVERVIEW FOR THE SIX MONTHS TO JUNE 30, 2008

The following discussion should be read in conjunction with the Company's unaudited consolidated financial statements and related notes appearing elsewhere in this Half Yearly Report.

Overview

Shire's strategic goal is to become the leading specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit and hyperactivity disorder (ADHD), human genetic therapies (HGT), gastrointestinal (GI) diseases as well as opportunities in other therapeutic areas to the extent they arise through acquisitions. Shire's in-licensing, merger and acquisition efforts are focused on products in specialist markets with strong intellectual property protection and global rights. Shire believes that a carefully selected and balanced portfolio of products with relatively small-scale sales forces will deliver

strong results. Recent developments Acquisition of Jerini AG On July 3, 2008 Shire announced that it was launching a voluntary public takeover offer for all shares in Jerini for an equity purchase price of *‚¬328 million. Shire has also invested approximately *‚¬21 million in return for the subscription of newly issued Jerini shares, equating to approximately 9% of the increased share capital. Jerini's Supervisory and Management Boards unanimously support the transaction and will recommend acceptance of the offer to its shareholders. Subject to completion of certain sale and purchase agreements, by August 4, 2008, Shire had rights to approximately 79% of Jerini's share capital before the receipt of any takeover offer acceptances. Once the offer document is posted, it is anticipated that the offer will be open for acceptance by the remaining shareholders until the end of Q3 2008. Although the proposed Jerini acquisition will be funded out of Shire's current cash resources, Shire intends to enter into a certain funds facility to enable the provision of a cash confirmation letter in accordance with the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und œbernahmegesetz, WpœG). The proposed acquisition will add Jerini's hereditary angioedema (HAE) product, FIRAZYR® (icatibant), (expected to be launched in the EU in H2 2008) to Shire's Human Genetic Therapies (HGT) portfolio. On July 15, 2008 Shire announced that the European Commission had granted Jerini marketing authorization for FIRAZYR in the treatment of acute attacks of HAE which allows Jerini to market FIRAZYR in the European Union's 27 member states, making it the first product to be approved in all EU countries for the treatment of HAE. On July 17, 2008 the German Federal Cartel Office issued confirmation of merger clearance. On July 31, 2008 the 15 day waiting period under the Hart Scott-Rodino Anti-Trust Improvements Act 1976 expired. This satisfied the last of the conditions precedent under the sale and purchase agreements and Shire is in the process of acquiring these shares. By August 4, 2008 Shire had paid *‚¬184 million for the acquisition of 50% of Jerini shares under the sale and purchase agreements. As a result of this payment together with recent on market acquisitions and the above mentioned subscription, by August 4, 2008 Shire has the rights to 79% of Jerini's issued share capital at a cost of *‚¬278 million.

DYNEPO

On July 31, 2008 Shire announced that it had decided to stop the commercialization of DYNEPO. Changes in the external environment including the launch of several bio-similars at lower prices have proved challenging for DYNEPO, a gene-activated erythropoietin indicated for use in treating anemia associated with kidney disease, making it an uneconomic product for Shire. Product sales will wind down over the second half of 2008 as all patients are transferred off DYNEPO by the end of the year. Shire has recorded charges of $150.3 million in the six months ended June 30, 2008 to cover intangible asset impairment, inventory write-down and other exit costs. The cash effect of these exit costs is approximately $20 million.

Board changes

On June 18, 2008 Shire's former Chief Financial Officer, Angus Russell became Chief Executive Officer and Shire's former Chief Executive Officer Matthew Emmens became Chairman and Non-Executive Director. Shire's former Chairman, Dr James Cavanaugh retired from the Shire Board and David Kappler became Deputy Chairman. On July 1, 2008 Graham Hetherington joined Shire as Chief Financial Officer and Executive Board Director. Graham Hetherington has a broad range of experience in senior financial roles having most recently held positions as the Chief Financial Officer of Bacardi (2007) and Allied Domecq plc (1999-2005).

On April 24, 2008 Shire announced that Michael Rosenblatt M.D. joined the Shire Board as a Non-Executive Director.

On July 29, 2008 Robin Buchanan, due to his other commitments, stepped down from the Shire Board on completion of his term of office.

Significant events in the six months to June 30, 2008

Product highlights

VYVANSE - Attention Deficit Hyperactivity disorder ("ADHD")

On April 23, 2008 Shire announced that the Food and Drug Administration ("FDA") had approved the adult indication for VYVANSE, making it the first and only once-daily prodrug stimulant approved to treat adults with ADHD. Shire launched VYVANSE for adult ADHD in June 2008. On May 8, 2008 Shire announced the results of a Phase 3 pivotal study in which VYVANSE demonstrated significant improvements in ADHD symptoms in adults and met all safety and efficacy endpoints.

By June 30, 2008 Shire had agreements with nine of its top eleven managed care organizations for VYVANSE.

On July 2, 2008 Shire shipped to wholesalers stocks of three additional dosage strengths (20mg, 40mg and 60mg) for VYVANSE representing product sales of approximately $24 million. These product sales will be recognized into revenue in Q3 2008.

LIALDA / MEZAVANT - Ulcerative Colitis

During the first half of 2008 LIALDA / MEZAVANT was launched in Canada and Germany. On April 1, 2008 the product was launched in Ireland as MEZAVANT XL and, following approval in Luxembourg on June 26, 2008, is now approved in 15 countries. Further launches are planned in certain other EU countries during 2008, subject to the successful conclusion of pricing and reimbursement negotiations. During April 2008, TAP Pharmaceutical Products Inc. ("TAP") commenced co-promotion of LIALDA in the US in accordance with the co-promotion agreement entered into on March 26, 2008. This agreement adds more than 500 additional sales representatives from TAP which will increase the reach and frequency of sales calls covering an additional 22,000 doctors.

FOSRENOL- Hyperphosphatemia

FOSRENOL was launched in Spain, Hong Kong, Slovenia and Switzerland during the first half of 2008 and in Malta and Malaysia in July 2008. FOSRENOL is now available in 29 countries.

ELAPRASE - Hunter syndrome

During the six months to June 30, 2008 ELAPRASE was approved for commercial sale in Russia, Mexico and Brazil. ELAPRASE was also approved for commercial sale in South Korea and Australia, where sales and distribution will be managed by Genzyme Corporation. ELAPRASE is now approved in 40 countries worldwide.

Business highlights

A new listed holding company for Shire group

On May 23, 2008 Shire Limited, a public company with its primary listing on the London Stock Exchange (secondary listing on NASDAQ), incorporated in Jersey and tax resident in the Republic of Ireland, became the holding company of the Shire group, pursuant to a scheme of arrangement under Sections 895 to 899 of the United Kingdom Companies Act 2006 (the "Scheme"). The Scheme was approved by the High Court of England and Wales and the shareholders of Shire plc, the former holding company of the Shire group. The introduction of a new holding company tax-resident in Ireland, is designed to help protect Shire's tax position.

Immediately prior to the Scheme becoming effective, Shire Limited was substituted for Shire plc as principal obligor under Shire's $1.1 billion 2.75 per cent convertible bond due 2014 originally issued by Shire plc (and the terms and conditions of such bonds were accordingly amended).

Shire incurred costs associated with the introduction of the new holding company of $12.2 million in the six months to June 30, 2008.

See notes 2 and 17 of the financial statements for further details.

Completion of acquisition of METAZYM

On June 4, 2008 Shire completed the acquisition of the global rights to the clinical candidate arylsulfatase-A, currently known as METAZYM, from Zymenex A/ S ("Zymenex") for $135 million in cash (see Research and development below). This acquisition is expected to bring forward Shire's entry into the Metachromatic Leukodystrophy ("MLD") market.

Sale of non-core assets

Shire recognised gains of $16.7 million (2007: $5.0 million) from the sale of non-core product rights in the six months to June 30, 2008. A gain of $5.0 million was realized from the sale of certain hormone replacement therapy products to Meda AB, and $11.7 million of gains resulting from the sale of other non-core products which were deferred at December 31, 2007 were recognised during the first half of 2008 following the transfer of the relevant consents. Share purchases

In the six months to June 30, 2008 2.0 million American Depositary Shares ("ADSs") were acquired by the Employee Share Ownership Trust ("ESOT") for a cash consideration of $104.1 million (2007: $99.9 million) at an average ADS price of $52.05.

Expansion in Massachusetts Shire Human Genetic Therapies ("HGT") announced on February 14, 2008, that the Company will invest approximately $400 million over four years through 2011 to expand its Lexington, Massachusetts campus, making Lexington the global center for HGT's research, development, and production. This will result in the creation of an estimated 680 additional full-time jobs over the next eight years, doubling the existing full time workforce.

Research and development

Products in registration June 30, 2008

FOSRENOL for the treatment of pre-dialysis chronic kidney disease ("CKD")

Following the FDA Cardiovascular and Renal Drugs Advisory Committee recommendation in the fourth quarter of 2007 on the use of phosphate binders, including FOSRENOL, to treat hyperphosphatemia in pre-dialysis CKD patients, Shire worked with the FDA to agree to a regulatory pathway for approval for use in pre-dialysis patients.

VYVANSE for ADHD in Canada

In March 2008 the Canadian new drug submission was accepted for filing for the treatment of ADHD in children. Review is ongoing.

INTUNIV

On June 21, 2007 Shire received an approvable letter from the FDA for INTUNIV. Shire is conducting additional clinical work which is designed to enhance the label. On May 8, 2008 Shire announced pivotal trial results for INTUNIV. The data demonstrated that INTUNIV has significant efficacy in reducing ADHD symptoms for patients taking the medication when compared to patients taking placebo at all measured time points up to 24 hours after dosing. While the precise timing for the approval of INTUNIV is unknown, it is anticipated that launch for use in children and adolescents will occur in the second half of 2009.

DAYTRANA for ADHD in EU & Canada

Regulatory submissions were filed for approval of the product with Health Canada on November 29, 2007 and in the EU via the decentralized procedure with the Netherlands as the reference member state on December 12, 2007. Reviews are ongoing.

Products in clinical development as at June 30, 2008

Phase 3

VYVANSE for ADHD in Europe

Shire plans to submit the regulatory filing for VYVANSE in Europe for the treatment of ADHD in children aged 6 to 17 in 2010.

LIALDA/MEZAVANT for the maintenance of remission in ulcerative colitis

Worldwide Phase 3 trials investigating the use of the product to maintain remission in patients who have ulcerative colitis were initiated in 2006 and are continuing.

LIALDA/MEZAVANT for the treatment of diverticulitis

Phase 3 worldwide clinical trials investigating the use of the product for the treatment of diverticulitis were initiated in 2007 and are continuing.

SEASONIQUE

Shire is evaluating the scientific advice received following meetings in 2007 with the regulatory authorities in Europe in order to formulate the regulatory filing strategy. Velaglucerase alfa Shire has completed enrolment in a worldwide Phase 3 clinical program for velaglucerase alfa, an enzyme replacement therapy being developed for the treatment of Gaucher disease. This comprehensive development program includes the evaluation of velaglucerase alfa in na¯ve patients and patients previously treated with imiglucerase across three clinical studies. It is anticipated that this development program will support global filings in the second half of

2009. Phase 2 JUVISTA Nine Phase 2 efficacy trials for JUVISTA have now been reported of which seven demonstrated statistically significant efficacy. Further Phase 2 clinical trials in other surgery types are ongoing and are expected to report during 2008 and 2009. Renovo Limited ("Renovo") is also intending to initiate a Phase 3 trial in the second half of 2008 in support of Renovo's filing of a European regulatory dossier and has recently announced that the European Medicines Agency ("EMEA") has given clearance to commence Phase 3 trials. Shire is considering the EMEA advice to Renovo and Renovo's EU Phase 3 plans and will give guidance on the US development plan in due course.

SPD550 for the treatment of Celiac disease

On December 14, 2007 Shire acquired the worldwide rights to SPD550 (Larazotide Acetate) (also known as AT-1001) in markets outside of the US and Japan from Alba Therapeutics Corporation ("Alba"). The two parties have established Joint Committees which will guide the development, manufacture, and commercialization of the product. Alba has initiated and is responsible for executing the agreed upon ongoing Phase 2 program and certain non-clinical studies for the treatment of Celiac disease. Additional development studies may be conducted jointly or by the individual companies prior to or after initiation of Phase 3.

Transvaginal Ring ("TVR") technology

The TVR technology products are in various stages of development.

MLD program

Shire has an ongoing enzyme replacement therapy program for the treatment of MLD, which is a lysosomal storage disorder that results from a deficiency in the enzyme arylsulfatase-A ("ASA"). On June 4, 2008 Shire completed its acquisition from Zymenex A/S ("Zymenex") of the global rights to a clinical candidate ASA, currently known as METAZYM. METAZYM has completed a Phase 1b clinical trial in 12 MLD patients in Europe and an extension to this study is ongoing. The product has been granted orphan drug designation in the US and in the EU. The current plan is to initiate a Phase 2/3 clinical trial by the end of 2008.This product will now be referred to as HGT-1111.

HGT-1110 was in development at Shire for the treatment of MLD following successful pre-clinical proof of concept studies. The HGT-1110 program was replaced with the HGT-1111 development program upon completion of the acquisition.

AMIGAL (HGT-3310 for the treatment Fabry disease)

Amicus Therapeutics Inc. ("Amicus") met with the FDA to discuss the AMIGAL development program in June 2008. Protocol Assistance with EMEA is planned during the final quarter of 2008. A final decision on the global development strategy will follow the conclusion of the discussions with both agencies. Shire has rights to AMIGAL in markets outside the US.

PLICERA (HGT-3410 for the treatment of Gaucher disease)

In March 2008 Amicus announced positive data from its Phase 2 clinical trial. Results from the Phase 2 trial support the previously reported interim findings that PLICERA was generally safe and well tolerated at all doses and increased target enzyme activity levels in a majority of patients. Shire has rights to PLICERA in markets outside the US.

HGT-3510 for the treatment of Pompe disease

In June 2008 Amicus initiated Phase 2 clinical trials of HGT-3510, an orally administered, small molecule pharmacological chaperone being jointly developed for the treatment of Pompe disease by Shire and Amicus. Shire has rights to HGT-3510 in markets outside the US.

Phase 1

SPD487 (Amphetamine transdermal system ("ATS"))

Shire is currently reviewing formulation data provided by Noven Pharmaceuticals Inc.

HGT-2310 - Hunter syndrome with significant central nervous system symptoms

Following the acceptance by the FDA in January 2008 of Shire's IND application for idursulfase-IT (HGT-2310 -formerly referred to as ELAPRASE for Hunter syndrome patients with significant central nervous system symptoms - "Hunter CNS") the Company is now in the process of planning clinical trials.

Products in pre-clinical development as at June 30, 2008

HGT-1410 for Sanfilippo Syndrome (Mucopolysaccharidosis IIIA)

On May 22, 2008 orphan drug designation was granted by the FDA for HGT-1410, an enzyme replacement therapy being developed for the treatment of Sanfilippo Syndrome, a lysosomal storage disorder. Pre-clinical development for this product is continuing.

A number of projects are underway in the early stages of development (pre-clinical) for the Specialty Pharmaceutical and HGT businesses.

SHIRE LIMITED RESULTS OF OPERATIONS FOR THE SIX MONTHS TO JUNE 30, 2008 AND 2007

The financial information contained within the Half Yearly Report has been prepared under accounting principles generally accepted in the United States of America ("US GAAP"), being the accounting policies under which Shire Limited will prepare its annual financial statements for the year ended December 31, 2008. The latest published annual financial statements of Shire plc, the former holding company of the Shire Group, for the year ended December 31, 2007 were prepared under International Financial Reporting Standards ("IFRS") adopted

for use in the European Union. Total revenues The following table provides an analysis of the Company's total revenues by source: 6 months to 6 months to change June 30, June 30, 2008 2007 $M $M % __________________ __________________ __________________ Product sales 1,337.4 965.7 38 Royalties 129.9 123.5 5 Other 10.5 13.9 -24 __________________ __________________ __________________ Total 1,477.8 1,103.1 34 __________________ __________________ __________________ Product sales The following table provides an analysis of the Company's key product sales: 6 months to 6 months to Product sales US growth prescription June 30, June 30, growth % 2008 2007 % $M $M Specialty Pharmaceuticals ADHD ADDERALL XR 557.9 504.2 11 -5% VYVANSE 119.6 - n/a n/a DAYTRANA 42.9 31.8 35 -8% GI PENTASA 89.0 84.0 6 -2% LIALDA / MEZAVANT 59.2 5.0 n/a n/a GP FOSRENOL(1) 78.6 47.3 66 -5% DYNEPO(1) 13.7 1.9 n/a n/a CALCICHEW 27.5 25.6 7 n/a CARBATROL 34.1 33.4 2 -4% REMINYL/REMINYL XL 17.0 14.6 16 n/a XAGRID 39.3 31.6 24 n/a Other product sales 19.1 52.6 -64 n/a __________________ __________________ __________________ 1,097.9 832.0 32 Human Genetic Therapies __________________ __________________ __________________ ELAPRASE 152.3 69.3 120 n/a REPLAGAL 87.2 64.4 35 n/a __________________ __________________ __________________ 239.5 133.7 79 n/a Total product sales 1,337.4 965.7 38 n/a __________________ __________________ __________________

(1) Reclassified to GP following Shire's decision to stop the commercialization of DYNEPO.

The following discussion includes references to prescription and market share data for the Company's key products. The source of this data is IMS Health, June 2008. IMS Health is a leading global provider of business intelligence for the pharmaceutical and healthcare industries.

Specialty Pharmaceuticals

ADDERALL XR

As a result of the launch of VYVANSE in July 2007 ADDERALL XR's average share of the US ADHD market for the six months to June 30, 2008 fell to 23.4% (2007: 26.3%). US prescriptions for ADDERALL XR for the six months to June 30, 2008 decreased by 5% compared to the same period in 2007 due to a 11% decrease in average market share offset by 7% growth in the US ADHD market. Sales of ADDERALL XR for the six months to June 30, 2008 were $557.9 million, an increase of 11% compared to the same period in 2007 (2007: $504.2 million). Product sales grew despite the decline in US prescriptions primarily due to price increases in October 2007 and in April 2008.

Litigation proceedings concerning the Company's ADDERALL XR patents are ongoing. Further information on this litigation can be found in our filings with the US Securities and Exchange Commission, ("SEC") including our Annual Report on Form 10-K for the year to December 31, 2007.

VYVANSE

VYVANSE was launched in the US market in July 2007. For the six months to June 30, 2008 VYVANSE's average market share was 6.7% of the US ADHD market. Product sales for the six months to June 30, 2008 were $119.6 million (2007: $nil).

By July 18, 2008 VYVANSE had achieved a US ADHD average weekly market share of 8.2% based on weekly prescription volumes.

DAYTRANA

Product sales for the six months to June 30, 2008 were $42.9 million (2007: $31.8 million). Prescriptions reduced by 8% compared to the same period in 2007 due to a reduction in DAYTRANA's average share of the US ADHD market from 2.2% to 1.9% in 2008. Despite the decrease in prescriptions compared to 2007, sales of DAYTRANA grew 35% due to lower sales deductions (primarily lower coupon deductions compared to 2007 which was impacted by launch coupon programs) and a price increase on January 1, 2008. On June 9, 2008 Shire announced a voluntary recall of a limited portion of DAYTRANA patches because certain patches did not meet their release liner removal specifications which may have resulted in some patients and caregivers having difficulties removing the liners. The voluntary recall was not due to safety issues. Shire and Noven Pharmaceuticals Inc. (the manufacturer of DAYTRANA) continue to pursue enhancements to the product and to work closely with the FDA to implement changes that may improve the usability of DAYTRANA. No interruption in the production of DAYTRANA is anticipated. The addition of VYVANSE combined with ADDERALL XR and DAYTRANA's market share helped Shire grow its total average share of the US ADHD market to 32.1% for the six months to June 30, 2008 (2007: 28.6%). Shire has the leading portfolio of products in the US ADHD market.

PENTASA

Sales of PENTASA for the six months to June 30, 2008 were $89.0 million, an increase of 6% compared to the same period in 2007 (2007: $84.0 million). Sales grew despite a decrease in prescriptions due to the impact of a price increase in April 2008 and August 2007.

US prescriptions for the six months to June 30, 2008 were down 2% compared to the same period in 2007 primarily due to a 3.3% decrease in PENTASA's US average market share from 17.5% in 2007 to 16.9% in 2008, offset by a 1.8% increase in the US oral mesalamine prescription market.

LIALDA/MEZAVANT

Shire launched LIALDA in the US oral mesalamine market in March 2007, and during the six months to June 30, 2008 LIALDA had reached an average market share of 10%. LIALDA's product sales in the US for the six months to June 30, 2008 were $57.6 million (2007: $5.0 million).

Sales of MEZAVANT outside the US for the six months ended June 30, 2008 were $1.6 million (2007: $nil). The product was launched as MEZAVANT XL in the UK in November 2007 and as MEZAVANT in Canada and Germany in January and February 2008 respectively. Shire launched MEZAVANT XL in Ireland in April 2008 and further launches are planned in certain other EU countries during 2008, subject to the successful conclusion of pricing and reimbursement negotiations. Since the launch of LIALDA in March 2007, PENTASA and LIALDA's combined average market share of the US oral mesalamine market grew to 26.9% for the six months to June 30, 2008 up from 18.9% for the corresponding period to June 30, 2007.

FOSRENOL

FOSRENOL has been launched in 29 countries and global sales totaled $78.6 million for the six months to June 30, 2008 (2007: $47.3 million). Sales of FOSRENOL outside the US for the six months ended June 30, 2008 were $35.0 million (2007: $15.6 million).

US sales of FOSRENOL for the six months to June 30, 2008 were up 37.5% to $43.6 million compared to the same period in 2007 (2007: $31.7 million).

FOSRENOL's average quarterly prescription share of the US phosphate binder retail market decreased to 8.2% for the six months to June 30, 2008 (2007: 8.6%). Contributing to product sales increase were price increases in October 2007 and February 2008. As a consequence of focusing on specialist physicians, clinics and dialysis centers, FOSRENOL's dollar share of the non-retail market has increased to 17.2% in June 2008 compared to 12.3% in June 2007. Effective April 16, 2008 Shire and Abbott Laboratories Inc. mutually agreed to terminate their Co-Promotion Agreement for FOSRENOL in the United States. Shire will continue to promote FOSRENOL on its own in the United States and throughout Europe.

XAGRID

Sales for the six months to June 30, 2008 were $39.3 million, an increase of 24% compared to the same period in 2007 (2007: $31.6 million). Expressed in transaction currencies (XAGRID is primarily sold in Euros and Pounds Sterling), sales increased by 14% due to growth in many of Shire's existing markets, with exchange rate movements against the US dollar accounting for the remaining

10% increase. Human Genetic Therapies ELAPRASE

Sales for the six months to June 30, 2008 were $152.3 million, an increase of 120% compared to the same period in 2007 (2007: $69.3 million). The sales growth was primarily driven by increased unit sales in the EU, North America, Latin America, and Asia Pacific. The product is now approved for marketing and commercial distribution in 40 countries. Exchange rate movements against the US dollar contributed 13% to the growth compared to the prior year.

REPLAGAL

Sales for the six months to June 30, 2008 were $87.2 million, an increase of 35% compared to the same period in 2007 (2007: $64.4 million). The sales growth was primarily driven by increased unit sales in markets in the EU and Latin America. The product is now approved for marketing and commercial distribution in 42 countries. Exchange rate movements against the US dollar contributed 10% to the growth compared to prior year.

Foreign exchange effect

As many of the Company's sales revenues are earned in currencies other than US dollars (primarily Euros and Pounds sterling), revenue growth reported in US dollars includes the impact of translating the sales made in a local currency, into US dollars. The table below shows the effect of foreign exchange translations on the revenue growth of the key affected products as well as the underlying performance of key products in their local currency: 6 months to 6 months to 6 months to Impact of June 30, June 30, June 30, translation 2008 2008 sales 2008 sales growth in growth in to sales local US dollars currency US dollars $M % % % ___________ ___________ ___________ ___________ XAGRID sales in Euros 25.4 +11 +27 +16 + REPLAGAL sales in Euros 51.3 +17 +35 +18 ELAPRASE sales in Euros 69.3 +67 +92 +25

XAGRID sales in Pounds Sterling 13.9 +19 +19

- CALCICHEW sales in Pounds 25.2 +10 +10 - Sterling

REMINYL and REMINYL XL sales in 15.8 +18 +18

- Pounds Sterling REPLAGAL sales in Pounds 12.9 +13 +13 - Sterling ELAPRASE sales in Pounds 14.5 +110 +110 - Sterling ___________ ___________ ___________ __________ Royalties Royalty revenue increased by 5% to $129.9 million for the six months to June 30, 2008 (2007: $123.5 million). The following table provides an analysis of Shire's royalty income: 6 months to 6 months to Change June 30, June 30, 2008 2007 $M $M % ____________ ____________ ___________ 3TC 72.9 74.5 -2 (1) ZEFFIX 21.2 19.4 +9 (2) Others 35.8 29.6 +21 ____________ ____________ __________ Total 129.9 123.5 +5 ____________ ____________ __________

(1) The impact of foreign exchange movements has contributed 7% to the reported growth.

(2) The impact of foreign exchange movements has contributed 13% to the reported growth.

3TC

Shire receives royalties from GSK on worldwide 3TC sales. Royalties from sales of 3TC for the six months to June 30, 2008 were $72.9 million (2007: $74.5 million). Excluding favorable foreign exchange movements of 7%, there has been a decline of 9% compared to the same period in 2007. While the nucleoside analogue market for HIV has continued to grow, competitive pressures from new products and entrants to the market have increased, leading to a decline in

3TC sales. ZEFFIX

Shire receives royalties from GSK on worldwide ZEFFIX sales. Royalties from sales of ZEFFIX for the six months to June 30, 2008 were $21.2 million, an increase of 9% compared to the same period in 2007 (2007: $19.4 million). The impact of foreign exchange movements has contributed 13% to the reported growth; excluding favorable foreign exchange movements there has been a decrease of 4% compared to the same period in 2007.

Other

Other royalties are primarily in respect of REMINYL and REMINYL XL (known as RAZADYNE and RAZADYNE ER in the US), a product marketed worldwide (excluding the UK and the Republic of Ireland) by Janssen Pharmaceutical N.V. ("Janssen"), an affiliate of Johnson & Johnson. Shire has the exclusive marketing rights in the UK and the Republic of Ireland.

Sales of the REMINYL/RAZADYNE range, for the symptomatic treatment of mild to moderately severe dementia of the Alzheimer's type, continue to grow.

Litigation proceedings relating to 3TC, COMBIVIR, EPIVIR, EPZICOM, RAZADYNE, RAZADYNE ER, REMINYL, REMINYL XL and ZEFFIX are on-going. Further information on these litigations can be found in our filings with the SEC, including our Annual Report on Form 10-K for the year to December 31, 2007.

Cost of product sales

The cost of product sales increased by 65% to $233.2 million for the six months to June 30, 2008 (17% of product sales), up from $141.3 million in the corresponding period in 2007 (2007: 15% of product sales). For the six months to June 30, 2008 cost of product sales included charges of $53.4 million (4% of product sales) (2007: $nil) relating to the write down of inventory and other exit costs in respect of DYNEPO which the Company has decided to stop commercializing, depreciation of $5.6 million (2007: $5.9 million) and amortization of $0.9 million (2007: $nil).

Research and development (R&D)

R&D expenditure increased to $267.3 million for the six months to June 30, 2008 (20% of product sales), up from $184.2 million in the corresponding period in 2007 (2007: 19% of product sales). For the six months to June 30, 2008 R&D included $6.5 million (2007: $nil) relating to the cost of exiting post-approval marketing commitments for DYNEPO, which the Company has decided to stop commercializing. Contributing to the increased R&D expenditure in 2008 over 2007 are projects in-licensed and acquired since the second half of 2007 including SPD 550, PLICERA, AMIGAL, JUVISTA and METAZYM together with Phase 3(b) and Phase 4 studies to support new product launches. R&D also includes depreciation of $6.0 million (2007: $5.5 million).

Selling, general and administrative (SG&A) expenses

Total SG&A costs increased by 47% to $763.3 million in the six months to June 30, 2008 compared to $519.2 million in the six months to June 30, 2007. As a percentage of product sales, SG&A expenses were 57% (2007: 54%). SG&A for the six months to June 30, 2008 includes intangible asset impairment charges of $90.4 million (7% of product sales) (2007: $nil) in respect of DYNEPO, increased amortization of intangible assets of $61.9 million (2007: $32.9 million) (increased due to VYVANSE, launched July 2007), and costs associated with the introduction of a new holding company of $12.2 million (2007: $nil). Other increases in SG&A expenses mainly relate to the increase in advertising, promotional and marketing spend to support VYVANSE and LIALDA/ MEZAVANT. SG&A includes depreciation charges of $22.0 million (2007: $19.4 million).

In Process R&D charge

For the six months to June 30, the Company recorded an in-process R&D charge of $135.0 million in respect of the acquisition of the global rights to the clinical candidate arylsultatase - A, currently known as METAZYM (HGT-1111), being investigated for the treatment of MLD, from Zymenex. During the six months to June 30, 2007 Shire expensed the portion of the New River purchase price allocated to in-process R&D totaling $1,896.0 million. This amount represented the value of those acquired development projects which, at the acquisition date, had not been approved by the FDA or other regulatory authorities, including the adult indication of VYVANSE.

Gain on sale of product rights

For the six months to June 30, 2008 Shire recognized gains of $16.7 million (2007: $5.0 million) on the sale of non-core product rights. Shire realized a gain of $5.0 million from the sale of certain hormone replacement therapy products to Meda AB and also recognized $11.7 million of gains deferred at December 31, 2007 resulting from the sale of other non-core products during 2007. These gains were deferred at December 31, 2007 pending the transfer of the relevant consents. Interest income

For the six months to June 30, 2008 Shire received interest income of $19.2 million (2007: $34.7 million). Interest income primarily relates to interest received on cash and cash equivalents. Interest income for the six months to June 30, 2008 is lower than the same period in 2007 due to lower average cash balances and lower average US Dollar interest rates.

Interest expense

For the six months to June 30, 2008 the Company incurred interest expense of $34.1 million (2007: $35.8 million). In 2007 interest expense included a $7.9 million write-off of deferred financing costs on repayment of term loans used to fund the acquisition of New River following the issue of the $1.1 billion convertible bonds in May 2007. In both six month periods to June 30, 2008 and 2007 interest expense includes a provision for interest, which may be awarded by the Court in respect of amounts due to those ex-TKT shareholders who have requested appraisal of the acquisition consideration payable for their TKT shares. A trial date of December 10, 2008 has been set. Further information on this litigation can be found in our filings with the SEC, including our Annual Report on Form 10-K for the year to December 31, 2007.

Other income

Other income includes a gain of $9.4 million arising from the sale of Shire's minority equity investment in Questcor Pharmaceutical Inc., a specialty pharmaceutical company focused on providing prescription drugs for central nervous system (CNS) disorders. The disposal generated cash consideration of $10.3 million. Taxation

The Company accounts for income taxes during interim periods in accordance with SFAS No. 109, "Accounting for Income Taxes," Accounting Principles Board, ("APB") No. 28, "Interim Financial Reporting," and FIN 18, "Accounting for Income Taxes in Interim Periods," an interpretation of APB Opinion No. 28. For interim reporting purposes, these rules require that a company determine the best estimate of its annual effective tax rate and then apply that rate in providing for income taxes on a year-to-date basis. Accordingly, the Company has calculated an expected annual effective tax rate, excluding significant, unusual or extraordinary items, for ordinary income associated with operations for which the Company currently expects to have annual taxable income. The annual effective tax rate applied to the results for the six months to June 30, 2008 was adversely influenced by items (such as the United States research and development tax credit which at June 30, 2008 has yet to be reinstated) that cannot at this time be included in the Company's estimate of the expected annual effective tax rate. The impact of such items may subsequently be recognized within the expected annual effective tax rate when, in the case of the US research and development tax credit, tax law changes are enacted. The effective rate of tax for the six months to June 30, 2008 was 47%, (2007: -4%). During both six month periods to June 30, 2008 and 2007 the effective rate of tax was adversely affected by in-process R&D charges of $135 million, (2007: $1,896 million) for which no tax benefit has been recorded. Excluding the impact of these in-process R&D charges, the effective rate of tax for the six months to June 30, 2008 was 19% (2007: 25%). The effective rate of tax excluding in-process R&D charges in the six months to June 30, 2008 was 6% lower than the corresponding period in 2007 principally due to a permanent tax benefit arising on the debtor substitution of the Company's convertible bond on the Scheme of Arrangement in May 2008. The effective rate of tax excluding IPR& D charges in 2008 further benefited from the release of deferred tax liabilities, at a rate higher than the effective rate of tax, following the impairment of the DYNEPO intangible asset.

Equity in earnings of equity method investees

Net losses of equity method investees of $0.3 million were recorded for the six months to June 30, 2008 (2007: $1.2 million earnings). This comprised earnings of $2.8 million from the 50% share of the anti-viral commercialization partnership with GSK in Canada (2007: $3.1 million) offset by losses of $3.1 million being the Company's share of losses in the GeneChem, AgeChem and EGS Funds (2007: loss $1.9 million).

Dividend

In respect of the six months ended June 30, 2008, the Board resolved to pay an interim dividend of 2.147 US cents per ordinary share (2007: 2.147 US cents per share). Dividend payments will be made in Pounds Sterling to Ordinary shareholders and in US Dollars to holders of American Depository Shares ("ADSs"). A dividend of 1.085 pence per ordinary share (2007: 1.048 pence) and 6.441 US cents per ADS (2007: 6.441 US cents) will be paid on October 9, 2008 to persons whose names appear on the register of members of the Company at the close of business on September 12, 2008. As previously disclosed Shire intends to put in place Income Access Share arrangements enabling shareholders to choose whether they receive their dividends from a company resident for tax purposes in the Republic of Ireland or from a company resident for tax purposes in the United Kingdom. In accordance with the Shire ADS Deposit Agreement, the ADS Depositary will be required to make an election on behalf of all holders of ADSs to receive UK sourced dividends. Details of the Income Access Share arrangements can be found in the Scheme Circular issued on April 16, 2008, which is available on the Company's website www.shire.com.

PRINCIPAL RISKS AND UNCERTAINTIES

The Shire Group has adopted a risk management strategy designed to identify, assess and manage the significant risks it faces. Whilst the Group aims to identify and manage such risks, no risk management strategy can provide absolute assurance against loss.

The principal risks and uncertainties facing the Group for the remaining six months of 2008 are outlined in the Prospectus dated April 16, 2008 relating to the introduction of the Ordinary Shares of Shire Limited to the Official List (the "Prospectus"), and the Annual Report and Accounts of Shire plc (the former holding company of the Shire Group) for the year ended December 31, 2007 (the "Annual Report and Accounts"). The Group's process for managing these risks is consistent with those processes as outlined in the Annual Report and Accounts. Some of these risks are specific to the Shire Group and others are more generally applicable to the pharmaceutical industry in which the Group operates. Both these documents are available on the Company's website, www.shire.com.

There has been no significant change in the principal risks and uncertainties since these risks were set out in the Prospectus on April 16, 2008.

DIRECTORS' RESPONSIBILITY STATEMENT

The directors' confirm that this condensed statement has been prepared in accordance with US GAAP and that the half yearly report herein includes a fair review of the information required by the DTR 4.2.7 and DTR 4.2.8.

The directors' of Shire Limited are listed in the Prospectus dated April 16, 2008 with the exception of the following changes:

* Dr Michael Rosenblatt was appointed as Non Executive Director on April 24

2008; * Shire's former Chief Financial Officer, Angus Russell, become Chief Executive Officer on June 18, 2008;

* Shire's former Chief Executive Officer, Matthew Emmens, became Chairman of

the Board on June 18, 2008;

* Shire's former chairman, Dr James Cavanaugh, retired from the Board on June

18, 2008; * Graham Hetherington was appointed Chief Financial Officer and Executive Board Director on July 1, 2008; and

* Robin Buchanan, due to his other commitments, stepped down from the Board

on July 29, 2008 on completion of his term of office.

A list of the current directors' is maintained and is available for inspection at the Company's registered office located at 22 Grenville Street, St Helier, Jersey JE4 8PX.

________________________ ____________________

Angus Russell Graham Hetherington

Chief Executive Officer Chief Financial Officer

Date: August 7, 2008 Date: August 7, 2008

SHIRE LIMITED CONSOLIDATED BALANCE SHEETS (Unaudited) Notes June 30, December 31, 2008 2007 $'M $'M ______________ _______________ ASSETS Current assets: Cash and cash equivalents 801.2 762.5 Restricted cash 34.3 39.5 Accounts receivable, net 5 463.5 441.5 Inventories, net 6 151.6 174.1 Assets held for sale 7 4.7 10.6 Deferred tax asset 135.0 143.3

Prepaid expenses and other current 8 100.3

125.3 assets _______________ ______________________ Total current assets 1,690.6 1,696.8 Non current assets: Investments 9 66.7 110.2

Property, plant and equipment, net 434.2

368.6 Goodwill 221.8 219.4

Other intangible assets, net 10 1,645.5

1,764.5 Deferred tax asset 142.2 143.7 Other non-current assets 26.8 26.9 _______________ _______________________ Total assets 4,227.8 4,330.1 _______________ _______________________

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable and accrued 11 702.2

674.2 expenses Deferred tax liability 10.6 11.3

Liability to dissenting shareholders 490.5

480.2 Other current liabilities 12 40.3 96.5 _______________ ________________________ Total current liabilities 1,243.6 1,262.2 Non-current liabilities Convertible bonds 1,100.0 1,100.0 Other long term debt 31.9 32.9 Deferred tax liability 338.1 332.4 Other non-current liabilities 13 388.0 375.6 _______________ _______________________ Total non-current liabilities 1,858.0 1,840.9 _______________ _______________________ Total liabilities 3,101.6 3,103.1 _______________ ______________ Commitments and contingencies 14 SHIRE LIMITED CONSOLIDATED BALANCE SHEETS (Unaudited) Notes June 30, December 31, 2008 2007 $'M $'M __________ ___________ Shareholders' equity:

Common stock of 5p par value; 1,000 55.5

55.2

million shares authorized; and 559.9 million shares issued and outstanding (2007: 750 million shares authorized; and 556.8 million shares issued and

outstanding)

Exchangeable shares: nil shares issued 17 -

33.6 and outstanding (2007: 0.7 million) Treasury stock (380.5) (280.8) Additional paid-in capital 2,563.9 2,503.4

Accumulated other comprehensive income 14.2

55.7 Accumulated deficit (1,126.9) (1,140.1) _________ __________ Total shareholders' equity 1,126.2 1,227.0 _________ __________ Total liabilities and shareholders' 4,227.8 4,330.1 equity _________ __________ The accompanying notes are an integral part of these unaudited consolidated financial statements. SHIRE LIMITED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Notes 6 months to 6 months to June 30, June 30, 2008 2007 $'M $'M _______________ ____________ Revenues: Product sales 1,337.4 965.7 Royalties 129.9 123.5 Other revenues 10.5 13.9 _______________ _______________ Total revenues 1,477.8 1,103.1 _______________ _______________ Costs and expenses:

Cost of product sales (1) (2) (3) 233.2

141.3

Research and development (1) (3) 267.3

184.2

Selling, general and administrative (1) 763.3

519.2 (2) In-process R&D charge 135.0 1,896.0

Gain on sale of product rights 4 (16.7)

(5.0) Integration costs - 1.3 _______________ _______________ Total operating expenses 1,382.1 2,737.0 _______________ _______________ Operating income/(loss) 95.7 (1,633.9) Interest income 16 19.2 34.7 Interest expense (34.1) (35.8) Other income/(expenses), net 13.4 2.3 _______________ _______________

Total other (expenses)/income, net (1.5)

1.2 _______________ _______________ Income/(loss) before income taxes and 94.2

(1,632.7)

equity in (losses)/earnings of equity

method investees Income taxes (44.3) (67.1)

Equity in (losses)/earnings of equity (0.3)

1.2

method investees, net of taxes

_______________ _______________ Net income/(loss) 49.6 (1,698.6) _________ __________

1. For the six months to June 30, 2007 $8.7 million of depreciation was

reclassified from SG&A costs to Cost of product sales ($3.9 million) and

Research and development ($4.8 million).

2. Cost of product sales includes amortization of intangible assets relating

to favorable manufacturing contracts of $0.9 million for the six months to

June 30, 2008 (2007: $nil). Selling, general and administrative costs

includes amortization and impairment charges of intangible assets relating

to intellectual property rights acquired of $152.3 million for the six

months to June 30, 2008 (2007: $32.9 million).

3. Costs, predominantly relating to manufacturing set-up costs for new

products, of $3.6 million for the six months to June 30, 2007, have been

reclassified from Research and development to Cost of product sales. SHIRE LIMITED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Notes 6 months to June 6 months to June 30, 30, 2008 2007 $'M $'M _______________ _______________ Earnings per share - basic Income/(loss) from continuing 9.1c (317.5c) operations _______________ _______________ 9.1c (317.5c) _______________ _______________ Earnings per share - diluted Income/(loss) from continuing 8.2c (317.5c) operations _______________ _______________ 8.2c (317.5c) _______________ _______________

Weighted average number of shares

(millions): Basic 18 543.7 535.0 Diluted 18 579.6 535.0 _________________ _________________ SHIRE LIMITED

UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY

Exchange- Accumu- Retained Common able lated Earnings/ Total stock Exchange- shares Additional other (Accumu- share- Common Number able Number of Treasury paid-in compre- lated holders' stock of shares shares shares stock capital hensive deficit) equity $'M M's $'M M's $'M $'M income $'M $'M $'M As at January 1, 2007 43.7 506.7 59.4 1.3 (94.8) 1,493.2

87.8 353.0 1,942.3

Effect of Scheme of Arrangement (cancellation)(1) (43.7) - - - - (1,493.2) - - (1,536.9) Effect of Scheme of Arrangement (issue) (1) 50.2 - - - - 1,486.7 - - 1,536.9 As at January 1, 2007 (restated) 50.2 506.7 59.4 1.3 (94.8) 1,486.7

87.8 353.0 1,942.3

Net loss for the period - - - - - -

- (1,451.8) (1,451.8)

Foreign currency translation - - - - - - (15.5) - (15.5) Shares issued, net

of issue costs 4.3 42.8 - - - 873.0 - - 877.3 Exchange of exchangeable shares 0.1 1.7 (25.8) (0.6) - 25.7 - - -

Warrants exercised 0.2 1.3 - - - 12.8

- - 13.0

Options exercised 0.4 4.3 - - - 30.0

- - 30.4 Share-based compensation - - - - - 75.2 - - 75.2 Shares purchased by the Employee Share Ownership Trust ("ESOT") - - - - (186.0) -

- - (186.0)

Unrealized holding loss on available-for-sale securities, net of taxes - - - - - -

(16.5) - (16.5)

Realized gain on available-for-sale securities, net of taxes - - - - - - (0.1) - (0.1) Dividends - - - - - - - (41.3) (41.3) As at December 31, 2007 55.2 556.8 33.6 0.7 (280.8) 2,503.4

55.7 (1,140.1) 1,227.0

1. Net increase to common stock of the Scheme of arrangement $6.5 million, see

Note 2 for further details.

The accompanying notes are an integral part of these unaudited consolidated financial statements.

Dividends per share

During the year to December 31, 2007 the Company paid dividends totalling 7.39 US cents per ordinary share, equivalent to 22.18 US cents per American Depositary Share ("ADS"), and 25.32 Canadian cents per exchangeable share.

SHIRE LIMITED

UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (continued) Exchange- Accumu- Common able lated Total stock Exchange- shares Additional other Accumu- share- Common Number able Number of Treasury paid-in compre- lated holders' stock of shares shares shares stock capital hensive deficit equity $'M M's $'M M's $'M $'M income $'M $'M $'M As at January 1, 2008 55.2 556.8 33.6 0.7 (280.8) 2,503.4

55.7 (1,140.1) 1,227.0

Net income for the period - - - - - - - 49.6 49.6 Foreign currency translation - - - - - - (7.4) - (7.4) Exchange of exchangeable shares 0.2 2.3 (33.6) (0.7) - 33.4 - - - Costs associated with shares issued through Scheme of Arrangement - - - - - (2.9) - - (2.9) Options exercised 0.1 0.8 - - - 0.9 - - 1.0 Share-based compensation - - - - - 35.7 - - 35.7 Tax deficit associated with exercise of stock options - - - - - (2.2) - - (2.2) Shares purchased by the ESOT - - - - (104.1) -

- - (104.1)

Shares released by ESOT to satisfy exercise of stock options - - - - 4.4 (4.4) - - - Unrealized holding loss on available-for-sale securities, net of taxes - - - - - -

(28.7) - (28.7)

Realized gain on available-for-sale securities, net of taxes - - - - - -

(5.4) - (5.4)

Dividends - - - - - -

- (36.4) (36.4)

As at June 30, 2008 55.5 559.9 - - (380.5) 2,563.9

14.2 (1,126.9) 1,126.2

The accompanying notes are an integral part of these unaudited consolidated financial statements.

Dividends per share

During the six months to June 30, 2008 Shire Limited declared and paid dividends of 6.47 US cents per ordinary share (equivalent to 19.41 US cents per ADS) totaling $36.4 million.

SHIRE LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME/(LOSS) (Unaudited) 6 months to 6 months to June 30, June 30, 2008 2007 $'M $'M ________________ ________________ Net income/(loss) 49.6 (1,698.6)

Other co