Pharming Group (PHARM)

[plumo]

Socius Exercises Warrants


Leiden, The Netherlands, March 7, 2011. Pharming Group NV (“Pharming” or “the Company”) (NYSE Euronext: PHARM) today announced that Socius CG II, Ltd, a subsidiary of Socius Capital Group, LLC (“Socius”), based in New York and Los Angeles, exercised all 24,339,623 warrants under the €16.1 million investment agreement entered into with Pharming in December 2010.

Under the terms of the agreement, Socius received 24,339,623 warrants with an exercise price of €0.212 (21.2 cents), which have now been exercised. Payment of the exercise takes place through a cash consideration of €0.04 per share (€973,584.92) and issuance of a Promissory Note for the remaining consideration of €4,186,415.08.

As of December 31, 2010, Pharming had 436,261,010 shares outstanding. The new number of outstanding shares is 461,116,470 comprising th e previous balance and including the exercise of the warrants by Socius (24,339,623) and shares (515,837) issued as part consideration of bonus payments to Pharming staff.