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At the closing of the transaction on July 2, 2008, affiliates of UnitedOverseas Bank (UOB), one of the early venture investors of WuXi PharmaTech,sold to Warburg Pincus a total of 26,808,496 ordinary shares, equivalent to3,351,062 American Depositary Shares. A beneficial ownership statementSchedule 13D with respect to this acquisition was filed with the Securitiesand Exchange Commission.
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''I am very delighted that Warburg Pincus has decided to invest in WuXi.As a premier global private equity firm with tremendous experience in the lifescience industry, Warburg Pincus not only will strengthen our investor base,but more importantly we believe that it will provide strategic and businessassistance to us,'' commented Dr. Ge Li, Chairman and CEO of WuXi PharmaTech.
''We are pleased to become a shareholder of WuXi PharmaTech which is aclear leader in the rapidly growing drug and medical device outsourcingindustry. WuXi has an impressive track record of growth and a distinguishedreputation for customer service,'' said Mr. Stewart Hen, Managing Director ofWarburg Pincus based in New York. Added Mr. Dai Feng, Principal of WarburgPincus based in China, ''With our global expertise in healthcare and our deepunderstanding of the off-shore operating environment, we hope to assist WuXiin achieving its strategic and financial goals.''
About WuXi PharmaTech
Established in December 2000, WuXi PharmaTech is a leading globalpharmaceutical, biotechnology and medical device R&D outsourcing company withoperations in both China and the U.S. As a research-driven andcustomer-focused company, WuXi PharmaTech provides a broad and integratedportfolio of laboratory and manufacturing services throughout the drug andmedical device R&D process to pharmaceutical, biotechnology and medical devicecompanies. WuXi's services are designed to assist its global partners inshortening the cycle and lowering the cost of drug and medical device R&D.For more information, please visit http://www.wuxipharmatech.com .
About Warburg Pincus
Warburg Pincus has been a leading private equity investor since 1971.Since inception, Warburg Pincus has invested more than USD 31 billion inapproximately 600 companies in 30 countries and across a range of sectors,including healthcare, financial services, industrial, technology, media andtelecommunications, energy, consumer and retail and real estate. The firm hasinvested USD 6.6 billion in healthcare-related companies around the world.Warburg Pincus has been investing in China since 1995 and is one of thelargest private equity investors in the country. The firm has offices inBeijing, Frankfurt, Hong Kong, London, Mumbai, New York, San Francisco,Shanghai and Tokyo. For more information, please visithttp://www.warburgpincus.com .
Cautionary Note Regarding Forward-Looking Statements
Statements in this release contain "forward-looking" statements within themeaning of Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended, and as defined in thePrivate Securities Litigation Reform Act of 1995, including, among others, theanticipated strengthening of our investor base and potential strategic andbusiness assistance to be received. These forward-looking statements are nothistorical facts but instead represent only our belief regarding future events,which by their nature are inherently uncertain and outside of o
