Sun To File Amendment to Tender Offer for Taro Waiving Certain Conditions

Wednesday, August 27, 2008 General News
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MUMBAI, India, Aug. 26 In connection with yesterday'sdecision in the Tel-Aviv District Court, Sun Pharmaceutical Industries Ltd.(Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUN PHARMA, BSE: 524715) today willfile an Amendment to its previously announced Tender Offer by its subsidiary,Alkaloida Chemical Company Exclusive Group Ltd. (Alkaloida). The Amendmentprovides for the waiver of certain conditions to the Tender Offer, includingthe condition that the controlling shareholders of Taro have performed theirobligations under their Option Agreement with Sun Pharma. Sun is not aware ofany other conditions that would not be satisfied if the Tender Offer were toexpire today and is preparing to close the Tender Offer.

In order to permit proper dissemination of the Amendment, Alkaloida hasextended the expiry date of the Tender Offer by one day to 5:00 p.m., New YorkCity time, on Wednesday, September 3, 2008.

As of 5:00 p.m., New York City time, on August 26, 2008, 3,627 OrdinaryShares had been tendered and not withdrawn from the Tender Offer.

The complete terms and conditions of the tender offer are set out in theOffer to Purchase, which is filed with the U.S. Securities and ExchangeCommission. Taro shareholders may obtain copies of all of the offeringdocuments, including the Offer to Purchase, free of charge at the SEC'swebsite ( or by directing a request to MacKenzie Partners, Inc.,the Information Agent for the offer, at 105 Madison Avenue, New York, New York10016, (212) 929-5500 (Call Collect) or Call Toll-Free (800) 322-2885,

Greenhill & Co., LLC is acting as the Dealer Manager for the Tender Offerand MacKenzie is acting as the Information Agent for the Tender Offer.

About Sun Pharmaceutical Industries Ltd.

Established in 1983, listed since 1994 and headquartered in India, SunPharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE:SUNPHARMA, BSE: 524715) is an international, integrated, specialitypharmaceutical company. It manufactures and markets a large basket ofpharmaceutical formulations as branded generics as well as generics in India,U.S. and several other markets across the world. In India, the company is aleader in niche therapy areas of psychiatry, neurology, cardiology,diabetology, gastroenterology, and orthopedics. The company has strong skillsin product development, process chemistry, and manufacturing of complex API,as well as dosage forms. More information about the company can be found Uday Baldota Tel +91 22 6645 5645, Xtn 605 Tel Direct +91 22 66455605 Mobile +91 98670 10529 E mail Brunswick Group for Sun Pharma Nina Devlin / Andrea Shores +1 212 333 3810 Arad Communications for Sun Pharma Gali Dahan +972 3 7693320 Mira Desai Tel +91 22 6645 5645, Xtn 606 Tel Direct +91 22 66455606 Mobile +91 98219 23797 Email MacKenzie Partners Robert Marese +1 212 929 5500 Greenhill Ashish Contractor +1 212 389 1537

SOURCE Sun Pharmaceuticals, Inc.

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