OKYO Pharma Limited Announces Withdrawal of Public Offering LONDON and

OKYO Pharma Limited Announces Withdrawal of Public

LONDON and NEW YORK, September 14, 2023 - OKYO

Pharma Limited (Nasdaq: OKYO) ("OKYO" or the "Company"), an ophthalmology-focused

bio-pharmaceutical company which is developing OK-101 to treat dry eye disease (DED) to address the significant unmet need in this multi-billion-dollar

market, today announced the withdrawal of its proposed public offering of ordinary shares and its termination of Freedom Capital

Markets as underwriter. The decision was made in response to changing market conditions.

This press release shall not constitute an offer to

sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such

an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or

OKYO Pharma Limited (Nasdaq: OKYO) is a life sciences company, focusing

on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain. For further information,

please visit www.okyopharma.com.

Forward-Looking Statements

Certain statements made in this announcement are forward-looking

statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations,

estimates, and projections about its industry; its beliefs; and assumptions. Words such as anticipates,' expects,'

intends,' plans,' believes,' seeks,' estimates,' and similar expressions

are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known

and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and

could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions

security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view

of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events

as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates

to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement

except as required by law or by any appropriate regulatory authority.