Insiders' dealing                                                               

Report of transactions with shares and related securities of NeuroSearch by     
persons discharging managerial responsibilities and person/companies closely    
associated with these                                

Pursuant to section 28a of the Danish Act on Securities Trading, NeuroSearch A/S
(NEUR.CO) shall make public transactions with shares and related securities of  
NeuroSearch A/S by persons discharging managerial responsibilities and          
persons/companies closely associated with these.                                

Name: Nicholas Waters                                                           
Reason: CEO of NeuroSearch Sweden AB                                            
Issuer and ID code / ISIN: NeuroSearch A/S / DK0010224666                       
Transaction: Sale of shares                                                     
Trading date: 5 March 2008                                                      
Market: The OMX Nordic Exchange Copenhagen A/S                                  
Number (pcs): 4,236                                                             
Market value (kr.): 1,289,184                                                   

Asger Aamund                                                                    
Chairman of the Board                                                           

Contact person:                                                                 
Anita Milland, Vice President, CFO, telephone: +45 2016 3432                    

NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on the OMX
Nordic Exchange Copenhagen A/S. Our core business covers the development of     
novel drugs, based on a broad and well-established drug discovery platform      
focusing on ion channels and CNS disorders. A substantial part of the company's 
activities are partner financed through a broad alliance with GlaxoSmithKline   
(GSK) and collaborations with among others Abbott and Astellas. The drug        
pipeline comprises 12 clinical (Phase I-III) development programmes: ACR16 in   
Huntington's disease (Phase III in preparation), tesofensine in obesity (Phase  
III in preparation), NS2359 in depression (Phase II) and ADHD (Phase II) in     
partnership with GSK, ABT-894 in ADHD (Phase II) and pain (Phase II) in         
partnership with Abbott, ACR16 in schizophrenia (Phase I) in partnership with   
Astellas, ACR325 in bipolar disorder/Parkinson's disease (Phase I), ABT-107 as  
well as ABT-560 for the treatment of various CNS diseases - both (Phase I) in   
collaboration with Abbott, NSD-644 in pain a.o. (Phase I) in partnership with   
GSK and ACR343 in Parkinson's disease (Phase I). In addition, NeuroSearch has a 
broad portfolio of preclinical drug candidates and holds equity interests in    
several biotech companies.