Napo Pharmaceuticals

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Annual Meeting Results

South San Francisco, California, October 22, 2007 -

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

Result of EGM. Napo Pharmaceuticals, Inc. ("Napo" or the "Company") announces that, at the Annual Meeting held today, all Resolutions which were set out in the Notice of Annual Meeting of Stockholder included in the prospectus of the company dated 28 September 2007, were duly passed including the disapplication of pre-emption rights in relation to the placing and subscription.

The Board of Napo announced on 28 September 2007 that it proposed to raise approximately GBP 2.0 million (approximately USD 4.0 million), gross of expenses, by way of a placing and subscription of new Common Shares. The placing and subscription was conditional on, amongst other things, the approval of the shareholders to disapply pre-emption rights.

The placing and subscription has resulted in a total of 2,844,584 new Common Shares being issued. In addition, following the completion of the acquisition of Indus Pharmaceuticals, Inc. today, 2,906,193 Common Shares have been issued to the vendors as consideration. The Common Shares pursuant to the placing and subscription and acquisition were allotted following the Annual Meeting.

It is expected that settlement will occur, admission to listing on the Official List and admission to trading on the London Stock Exchange's main market will become effective and dealings in the new Common Shares will commence Wednesday 24 October. Following admission, there will be 53,078,769 issued Common Shares.

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
020 7466 5000
Tim Anderson, Mary-Jane Johnson

Nomura Code Securities Limited
020 7776 1205
Clare Terlouw

About Napo Pharmaceuticals, Inc.

The shares of Napo Pharmaceuticals, Inc. (the "Shares") have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Shares may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons as such term is defined in Regulation S under the Securities Act except (1) in a transaction meeting the requirements of Regulation S under the Securities Act, (2) pursuant to an effective registration statement under the Securities Act, or (3) pursuant to an available exemption from the registration requirements of the Securities Act, in each case in accordance with all applicable securities laws, including applicable state securities laws of the United States.