Grant of Options

Summit Corporation plc ("Summit" or "the Company") DIRECTOR DEALINGS: GRANT OF OPTIONS Oxford, UK, 11 April 2011, Summit Corporation plc (AIM: SUMM), a leading UK drug discovery company today announces that on 8 April 2011 the Company granted Share Options under its Enterprise Management Incentive ('EMI') Scheme at an exercise price of 3.25 pence per share to the following Directors of the Company: +------------------+--------------------+-------------------+------------------+ |Director |Position | Number of Options| Total Number of| | | | Granted| Options Held| +------------------+--------------------+-------------------+------------------+ |Barry Price, PhD |Executive Chairman | 500,000| 500,000| +------------------+--------------------+-------------------+------------------+ |Richard Storer, |Chief Scientific | 1,000,000| 3,415,120| |PhD |Officer | | | +------------------+--------------------+-------------------+------------------+ In addition, options were also granted to other eligible employees of the Company over 2,725,000 shares (representing 1.6% of the Company's current issued share capital).  The vesting of the options is subject to performance conditions linked to an improvement in the Company's share price.  In order to vest in full the Company's average share price will have to exceed 15 pence over the two months ending 7 April 2014. The Board of Summit believes these awards are in the best interest of the Company to retain and motivate employees to deliver value to shareholders. - END - For more information, please contact: Summit Barry Price, PhD, Richard Pye, PhD Tel: +44 (0)1235 443 939 Singer Capital Markets (Nominated Adviser) Shaun Dobson / Claes Spång Tel: +44 (0)20 3205 7500 Peckwater PR Tarquin Edwards Tel: +44 (0)7879 458 364 Notes to Editors About Summit Summit is an Oxford, UK based drug discovery company with an innovative technology platform called Seglins(TM) for the discovery of new medicines, a portfolio of drug programme assets and a commercial strategy of signing multiple early-stage deals. Seglin(TM) technology is using new chemistry to access biological drug targets that cannot be exploited by conventional drug discovery approaches.  Summit's internal research is currently focussed in the high-value therapy areas and the Company will further exploit the technology's wider potential through strategic alliances.  Summit's programme portfolio consists of a number of drug programmes targeting high-value areas of unmet medical need including Duchenne Muscular Dystrophy and C. difficile infections. Summit's commercial strategy focuses on signing multiple early-stage drug programme and technology platform deals that generate upfront cash, remove development costs from the Company, and retain valuable upside potential. Summit is listed on the AIM market of the London Stock Exchange and trades under the ticker symbol SUMM.  Further information is available at This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Summit Corporation PLC via Thomson Reuters ONE [HUG#1505155]