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Flamel Technologies (Nasdaq:FLML) announced today that the Board
of Directors has elected Dr. Frank J. Fildes, PhD to serve as a member
of the Company’s Board of Directors. Dr. Fildes was elected to replace
Cor Boonstra, who is retiring from his position with Flamel. Dr.
Fildes will also assume Mr. Boonstra’s position on the Audit Committee
of the Company.

Dr. Fildes is the former Senior Vice President: Head of Global
Development for AstraZeneca, PLC, where he was responsible for the
development, registration, and technical support of AstraZeneca
products worldwide. He currently serves as a director of ProStrakan
Group PLC and Piramed, Ltd. He also serves as a member of the
Scientific Advisory Board of UCB Pharmaceuticals; as a member of the
Portfolio Review Board of Ferring Pharmaceuticals; and as a member of
the New Agents Development Committee for Cancer Research UK, the
United Kingdom’s leading cancer charity. Dr. Fildes is a Fellow of the
Royal Society of Medicine and the Royal Society of Chemistry.

Dr. Fildes commented, “In recent months, I have had the
opportunity for an in-depth review of Flamel’s technology platforms
with its scientists and technologists, and I believe that Flamel
offers clinically and commercially compelling drug delivery solutions
to pharmaceutical and biotechnology companies. I am delighted to be
asked to serve as a member of Flamel’s Board of Directors.”

“The Board of Directors and the entire Flamel team are looking
forward to working more closely with Dr. Fildes, who adds a further
wealth of pharmaceutical experience and scientific knowledge to our
Board,” said Elie Vannier, the chairman of the Board of Directors of
Flamel Technologies. Stephen H. Willard, Flamel’s chief executive
officer added: “Dr. Fildes’ drug development roles at AstraZeneca are
of obvious help to us in every aspect of our work. Furthermore, as a
Ph.D in polymer chemistry, he intimately understands the fundamental
science that underpins our technology offerings to clients. Dr. Fildes
has developed a close relationship with many of our top scientists. We
all are pleased and honored that he has agreed to be nominated to
serve the Company as a member of our Board of Directors.”

Mr. Vannier and Mr. Willard continued: “We would also like to
express our deep appreciation and that of our fellow directors for the
intelligence, no-nonsense approach, and time that Cor Boonstra has
dedicated to Flamel Technologies since 2005. He has been a wonderful
resource of business acumen and has contributed in many ways to our
Company over the past few years. He will always have our thanks for
all his efforts on our behalf, and our board will sincerely miss him.”

Flamel Technologies also announced today that Michel Finance,
Executive Vice President and Chief Financial Officer, will be leaving
the Company to pursue other interests. Sian Crouzet, Flamel’s
Financial Controller will assume the role of Principal Financial
Officer.

Mrs. Crouzet has served the company as Flamel’s Financial
Controller since 2005. Mrs. Crouzet previously worked as Financial
Controller France for McCormick & Company Inc. Previous to that, she
was an external auditor with Ernst and Young. She is a UK Chartered
Accountant and a graduate of Bradford University.

Mr. Willard stated, “I wish to thank Michel Finance for his work
over the past two and a half years and wish him well in his future
endeavors. We are very fortunate to have Sian’s experience and
practical knowledge of the Company which has been developed as our
Controller over the past two and a half years. I am looking forward to
working with her in her new role as Principal Financial Officer.”

A conference call to discuss Flamel’s fourth quarter and 2007
annual results is scheduled for 8:30 AM Eastern Standard Time March 4,
2008. The dial-in number is (1) 800-374-1498 (Conference ID number:
36447833). International callers are invited to dial-in (1)
706-634-7261.

Flamel Technologies, S.A. is a biopharmaceutical company
principally engaged in the development of two unique polymer-based
delivery technologies for medical applications. Flamel’s Medusa(R)
technology is designed to deliver controlled-release formulations of
therapeutic proteins and peptides, without reduction in bioactivity.
Micropump(R) is a controlled release and taste-masking technology for
the oral administration of small molecule drugs; it is the
intellectual platform licensed by GlaxoSmithKline for the development
of COREG CR(TM).

This document contains a number of matters, particularly as
related to financial projections and the status of various research
projects and technology platforms, that constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995.

The presentation reflects the current view of management with
respect to future events and is subject to risks and uncertainties
that could cause actual results to differ materially from those
contemplated in such forward-looking statements.

These risks include risks that products in the development stage
may not achieve scientific objectives or milestones or meet stringent
regulatory requirements, uncertainties regarding market acceptance of
products in development, the impact of competitive products and
pricing, and the risks associated with Flamel’s reliance on outside
parties and key strategic alliances.

These and other risks are described more fully in Flamel’s Annual
Report on the Securities and Exchange Commission Form 20-F for the
year ended December 31, 2006.