Tercica Reports Second Quarter 2008 Financial Results

Business Wire, July 31, 2008

Additional Information about the Proposed Merger Transaction and Where You Can Find It

Tercica has filed a preliminary proxy statement with the SEC relating to a solicitation of proxies from its stockholders in connection with a special meeting of stockholders of Tercica to be held for the purpose of voting on the adoption of the agreement and plan of merger with an affiliate of Ipsen relating to the proposed merger transaction. Tercica and Beaufour Ipsen Pharma also filed a transaction statement on Schedule 13E-3 with the SEC relating to the transactions contemplated by the agreement and plan of merger. BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED TRANSACTION, SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT, TRANSACTION STATEMENT ON SCHEDULE 13E-3 AND OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The preliminary and definitive proxy statement, transaction statement on Schedule 13E-3 and other relevant materials, and any other documents filed by Tercica with the SEC, may be obtained free of charge at the SEC's website at www.sec.gov. In addition, stockholders of Tercica may obtain free copies of the documents filed with the SEC by contacting Tercica's Investor Relations department at (650) 624-4992 or Investor Relations, Tercica, Inc., 2000 Sierra Point Parkway, Suite 400, Brisbane, California 94005. You may also read and copy any reports, statements and other information filed by Tercica with the SEC at the SEC public reference room at 100 F Street, NE, Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 or visit the SEC's website for further information on its public reference room.

Tercica and its executive officers and directors may be deemed to be participants in the solicitation of proxies from the stockholders of Tercica in favor of the transactions contemplated by the agreement and plan of merger. A list of the names of Tercica's executive officers and directors, a description of their respective interests in Tercica, and any additional benefits they will receive in connection with the proposed merger transaction are set forth in the preliminary proxy statement filed in connection with the special meeting of stockholders of Tercica to be held for the purpose of voting on the adoption of the agreement and plan of merger, and in any documents subsequently filed by its directors and executive officers under the Securities and Exchange Act of 1934, as amended.

If and to the extent that executive officers or directors of Tercica will receive any additional benefits in connection with the transactions contemplated by the agreement and plan of merger that are unknown as of the date of this filing, the details of such benefits will be described in the definitive proxy statement, and security holders may obtain additional information regarding the interests of Tercica's executive officers and directors in the proposed merger transaction by reading the preliminary proxy statement.