Tiziana Life Sciences plc ("Tiziana" or the "Company") Issue of convertible unsecured loan notes with warrants attached to raise 1,434,000 This announcement contains inside information for the purposes of Article 7 of EU

Tiziana Life Sciences plc

("Tiziana" or the "Company")

Issue of convertible unsecured loan notes

with warrants attached to raise 1,434,000

This announcement contains inside information

for the purposes of Article 7 of EU Regulation 596/2014.

New York/London, 1 November 2019 - Tiziana

Life Sciences plc (Nasdaq: TLSA / AIM: TILS), a biotechnology company focusing on the discovery and development of innovative therapeutics

for inflammation and oncology indications, announces that it has raised 1,434,000 of finance by way of the issue of convertible

unsecured loan notes (the "Loan Notes"), with warrants attached, for working capital purposes.

The Company previously announced its intention

to raise additional equity share capital by way of an offering of its NASDAQ listed ADSs in the US. However, the Directors decided

that given current market conditions, such an equity fundraise would be on dilutive terms which would be punitive to existing shareholders

particularly in light of the recent positive news from the Company's scientific programs. Accordingly, the Company has decided

to raise convertible debt finance from supportive existing shareholders.

The Loan Notes are expected to be short

term instruments and carry a coupon of 16% per annum and are convertible (together with all accrued interest) into ordinary shares

of nominal value 0.03 each in the capital of the Company ("Ordinary Shares") at a conversion price of 42p. The

warrants issued in connection with the Loan Notes entitle the holders to subscribe for one additional share per conversion share

at the same price of 42p. The warrants may be exercised for a period of up to 5 years from their issue.

The person who arranged for release of

this announcement on behalf of the Company was Tiziano Lazzaretti, Chief Financial Officer of Tiziana.

About Tiziana Life Sciences

Tiziana Life Sciences plc is a UK biotechnology

company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology. In

addition to milciclib, the Company is also developing foralumab for liver diseases. Foralumab is the only fully human anti-CD3

monoclonal antibody known to the company in clinical development in the world. This compound has potential application in a wide

range of autoimmune and inflammatory diseases, such as non-alcoholic steatohepatitis (NASH), primary biliary cholangitis (PBS),

ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis,

where modulation of a T-cell response is desirable.

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