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Steve Karlson
Windspeed Ventures
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steve@windspeed.com

XenoPort, Inc. Announces Initial Public Offering

Santa Clara, CA., June 2, 2005 - /PRNewswire/ - XenoPort, Inc. (Nasdaq: XNPT) today announced the initial public offering of 5,000,000 shares of its common stock at $10.50 per share. Shares of XenoPort’s common stock will be traded on the Nasdaq National Market under the trading symbol “XNPT”. XenoPort has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock at the initial public offering price, less the underwriting discounts and commissions, to cover over-allotments, if any. All of the shares are being offered by XenoPort.

Morgan Stanley & Co. Incorporated is acting as the sole book running and joint lead manager for the offering. Deutsche Bank Securities is acting as co-lead manager for the offering. Co-managers for the offering are Pacific Growth Equities, LLC and Lazard Capital Markets.

A copy of the final prospectus relating to the offering may be obtained from Morgan Stanley's prospectus department at 1585 Broadway, New York, NY 10036-8200, by telephone at 212-761-6775 or by emailing prospectus@morganstanley.com.

A registration statement relating to this offering was filed with, and declared effective by, the Securities and Exchange Commission. The offering is being made solely by means of a prospectus. This press 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 or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About XenoPort
XenoPort, Inc. is a biopharmaceutical company focused on developing a portfolio of internally discovered product candidates that utilize the body's natural nutrient transporter mechanisms to improve the therapeutic benefits of existing drugs. Our most advanced product candidate is currently being evaluated in a Phase 2b clinical trial for the treatment of restless legs syndrome and has successfully completed a Phase 2a clinical trial for the management of post-herpetic neuralgia.