- up regulation of the anti-inflammatory protein annexin 1 (also known as lipocortin). significane here being annexin 1 inhibits phospholipase A2 which is involved in the production of arachidonic acids from membrane phospholipids. - these acids ultimatley result in production of leukotrienes (bad for asthma - cause bronchoconstriction) - down regulation of the enzyme cyclo-oxygenase. significance here is that COX-2 is involved in the release of prostanoids from arachidonic acid. - both these effects decrease inflammatory eicosanoid signalling