ICON plc Announces Pricing of Its Secondary Equity Offering

ICON plc (NASDAQ: ICLR) announced today the pricing of a
secondary offering of 1,000,000 of its American Depositary Shares
("ADSs"), representing ordinary shares, EUR 0.06 per share, at $63.50
per ADS. The ADSs being offered represent approximately 7% of ICON's
total issued and outstanding share capital. The ADSs are being offered
by Dr. Ronan Lambe, one of ICON's co-founders and a member of its
board of directors, and Poplar Limited, the sole beneficial owner of
which is Dr. John Climax, ICON's other co-founder and its Chairman.
ICON will not receive any proceeds from the offering of the ADSs.
The offering is expected to close on August 4, 2006, subject to
customary conditions. William Blair & Company, L.L.C. is the sole
book-running, lead manager of the offering. In addition, Bear, Stearns
& Co. Inc. and Jefferies & Company, Inc. are serving as co-managers of
the offering.
A prospectus relating to these securities may be obtained by
writing to or telephoning William Blair & Company, L.L.C. at 222 West
Adams Street, Chicago, IL 60606, +1-312-236-1600.
A registration statement relating to these securities has been
filed with and declared effective by the Securities and Exchange
Commission. This release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any State in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such State.
ICON plc is a contract research organization providing clinical
research and development services on a global basis to the
pharmaceutical, biotechnology and medical device industries. As of
June 30, 2006, ICON had approximately 3,600 employees and operations
in 45 locations in 30 countries, including the United States and major
markets in Europe and the rest of the world.
The statements made in this Press Release may contain
forward-looking statements that involve a number of risks and
uncertainties. In addition to the matters described in this Press
Release, the ability to maintain large client contracts or enter into
new contracts, maintain client relationships and the ability to manage
the opening of new offices, the integration of new business mergers
and acquisitions, as well as other risks and uncertainties detailed
from time to time in reports filed by ICON with the Securities
Exchange Commission, including its Form 20-F, F-1, S-8 and F-3, may
affect the actual results achieved by ICON. ICON disclaims any intent
or obligation to update these forward-looking statements.

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