Shire Comments on AbbVie's Unchanged Proposal

Dublin, Ireland (ots/PRNewswire) -

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART)
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS

OF SUCH JURISDICTION.

Shire plc ("Shire" or the "Company") notes today's announcement
by AbbVie Inc. ("AbbVie") repeating its proposal of May 30, 2014,
which comprised GBP20.44 in cash and 0.7988 AbbVie shares per Shire
share (the "Proposal").

Today's announcement by AbbVie contains no new proposal and
provides no material new information.

The Board of Shire has already considered this Proposal in detail
and unanimously rejected it, concluding that it fundamentally
undervalued the Company and its prospects.

Shareholders are strongly advised to take no action in relation to
the Proposal. There can be no certainty that any firm offer will be
made, nor as to the terms on which any firm offer might be made.

This statement is being made by Shire without the prior agreement
or approval of AbbVie.

NOTES TO EDITORS

Shire enables people with life-altering conditions to lead better
lives.

We provide treatments in Rare Diseases, Neuroscience,
Gastrointestinal and Internal Medicine and we are developing
treatments for symptomatic conditions treated by specialist
physicians in other targeted therapeutic areas such as Ophthalmology.

Shire's product sales from continuing operations have increased
from US$2,754 million in the financial year to 31 December 2008 to
US$4,757 million in the financial year to 31 December 2013,
representing a five-year compound annual growth rate of 11.6%.
Shire's Non GAAP diluted earnings per ADS have increased from US$3.86
in the financial year to 31 December 2008 to US$7.66 in the financial
year to 31 December 2013, representing a five-year compound annual
growth rate of 14.7%. Shire's US GAAP diluted earnings per ADS have
increased from US$0.86 in the financial year to 31 December 2008 to
US$3.53 in the financial year to 31 December 2013, representing a
five-year compound annual growth rate of 32.7%.

http://www.shire.com

A copy of this announcement will be available at
http://www.shire.com. The content of the website referred to in this
announcement is not incorporated into and does not form part of this
announcement.

FURTHER INFORMATION

Evercore Partners International LLP ("Evercore"), which is
authorised and regulated in the United Kingdom by the Financial
Conduct Authority, is acting as financial adviser exclusively for
Shire and no one else in connection with the matters referred to in
this announcement and will not regard any other person as its client
in relation to the matters referred to in this announcement and will
not be responsible to anyone other than Shire for providing the
protections afforded to clients of Evercore, nor for providing advice
in relation to the matters referred to in this announcement.

Morgan Stanley & Co. International plc, which is authorised by the
Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority in the
United Kingdom, is acting as financial adviser to Shire and no one
else in connection with the matters referred to in this announcement.
In connection with such matters, Morgan Stanley & Co. International
plc, its affiliates and its and their respective directors, officers,
employees and agents will not regard any other person as their
client, nor will they be responsible to any other person other than
Shire for providing the protections afforded to their clients or for
providing advice in connection with the contents of this announcement
or any other matter referred to herein.

Citigroup Global Markets Limited, which is authorised by the
Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority, each in
the United Kingdom, is acting as financial adviser to Shire and for
no one else in connection with the matters set out in this
announcement. In connection with such matters, Citigroup Global
Markets Limited, its affiliates and its and their respective
directors, officers, employees and agents will not regard any other
person as their client, nor will they be responsible to anyone other
than Shire for providing the protections afforded to its clients or
for providing advice in connection with the contents of this
announcement or any matter referred to herein.

Goldman Sachs International, which is authorised by the Prudential
Regulation Authority and regulated by the Financial Conduct Authority
and the Prudential Regulation Authority in the United Kingdom, is
acting as financial adviser to Shire and no one else in connection
with the matters referred to in this announcement. In connection with
such matters Goldman Sachs International, its affiliates and its and
their respective directors, officers, employees and agents will not
regard any other person as their client, nor will they be responsible
to anyone other than Shire for providing the protections afforded to
clients of Goldman Sachs International, or for giving advice in
connection with the contents of this announcement or any other matter
referred to herein.

Deutsche Bank AG is authorised under German Banking Law (competent
authority: BaFIN - Federal Financial Supervisory Authority). Deutsche
Bank AG, London Branch is further authorised by the Prudential
Regulation Authority and is subject to limited regulation by the
Financial Conduct Authority and Prudential Regulation Authority.
Deutsche Bank is acting as financial adviser to Shire and no one else
in connection with the contents of this Announcement and will not be
responsible to anyone other than Shire for providing the protections
afforded to its clients or for providing advice in connection with
the contents of this Announcement or any matter referred to herein.

CONTACTS

Shire
Jessica Mann +44 1256 894 280
Stephanie Fagan +1 201 572 9581
FTI Consulting (Media Adviser to the
Company)
Andrew Lorenz (London) +44 77 7564 1807
Ben Atwell (London) +44 20 3727 1000
David B. Roady (New York) +1 212 850 5600
Robert Stanislaro (New York) +1 212 850 5600
Citi (Financial Adviser to the Company)
Christopher Hite +1 212 816 1818
Jan Skarbek +44 20 7986 4000
Deutsche Bank (Financial Adviser to the
Company)
Nick Bowers +44 20 7545 8000
Ben Lawrence
Evercore (Financial Adviser to the
Company)
Francois Maisonrouge +44 20 7653 6000
Edward Banks
Goldman Sachs (Financial Adviser to the
Company)
Anthony Gutman +44 20 7774 1000
Raj Shah
Morgan Stanley (Financial Adviser to the
Company)
Michele Colocci +44 20 7425 8000
Colm Donlon
Peter Moorhouse (Corporate Broking)

ots Originaltext: Shire Pharmaceuticals Group Plc
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