Financial

By : Shauneen Beukes APN – Aspen Pharmacare Holdings Limited – Trading update Aspen Pharmacare Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1985/002935/06) Share code: APN & ISIN: ZAE000066692 (“Aspen”) Trading update Aspen shareholders are hereby advised that headline earnings per share, for the 12 months ended 30 June 2010, are expected to exceed those reported in the comparative period, ended 30 June 2009, by 20% to 25%. Earnings per share are anticipated to exceed those of the comparative period by 30% to 35%. The lower increase in headline earnings per share is caused by the exclusion of non-recurring capital profits and losses in the determination thereof. The Group’s South African business has been the leading contributor to the growth recorded. The financial results on which this trading announcement is based have not been reviewed or reported on by Aspen`s external auditors. Aspen`s results are scheduled to be published on SENS on 15 September 2010. Woodmead 23 August 2010 Sponsor Investec Bank Limited

Johannesburg – JSE listed Aspen (Apn), Africa’s largest pharmaceutical manufacturer, has recorded strong returns for the six months ended 31 December 2009. The excellent performance from the South Africa business underpinned the results. Group Performance: Group revenue increased by 10 percent to R4.576 billion (R4.142 billion). Group operating profit increased by 16 percent to R1.314 billion (R1.136 billion). Group headline earnings per share (HEPS) from continuing operations increased by 27 percent to 242.3 cents (193.8 cents). Group profit after tax from continuing operations increased by 31 percent to R889 million (R690 million). Stephen Saad, Aspen Group Chief Executive said “the excellent performance recorded by the South African business was driven by robust volume growth and margin improvements. Revenue growth in the international business is attributed to gains from Global brands, the Asia Pacific domestic brands, the oncology business and from the Glaxosmithkline (“GSK”) transactions.” Completion of the GSK transactions: With effect from 1 December 2009, Aspen completed a series of strategic, interdependent transactions with GSK (“the GSK transactions”) which had been announced on 12 May 2009. The GSK transactions comprise: The acquisition of the rights to distribute GSK’s pharmaceutical products in South Africa; The formation of a collaboration agreement between Aspen and GSK in relation to the marketing and selling of prescription pharmaceuticals in sub-Saharan Africa; The acquisition by Aspen Global of eight specialist branded products (Alkeran, Leukeran, Purinethol, Kemadrin, Lanvis, Myleran, Septrin and Trandate) for worldwide distribution; The acquisition of GSK’s manufacturing facility in Bad Oldesloe, Germany; and The issue by Aspen of 68.5 million ordinary shares to GSK at R66.80 per share amounting to a total value of R4.576 billion. South African Business: The South African business maintained its leadership position across the private and public sectors of the pharmaceutical market and grew revenue by 23% to R2.550 billion. Operating profit from the South African business increased from R484 million to R806 million. Other operating income includes an amount of R145 million received as insurance compensation for loss of profits and asset replacement arising from the explosion which occurred at the Nutritionals Facility in August 2009. Profit margins improved after the contractions in the previous two years caused by a weak Rand and delays in the passing of an increase to the SEP in the private pharmaceutical market. The pharmaceutical division led growth in the South African business with revenue rising 30% to R1.975 billion. Aspen’s robust growth in pharmaceuticals was characterised by volume gains across the extensive product offering. . The consumer division increased revenue by 6% to R575 million. This credible performance was recorded despite the prevailing recessionary effects in the retail environment as well as the negative impact on sales of infant milk formula due to the temporary unavailability of certain products resulting from the damage incurred at the Nutritionals Facility. The Group’s South African manufacturing facilities achieved impressive efficiency gains as the benefits of the significant capital expenditure programme of the last few years begin to be realised. The second Oral Solid Dose Facility and the eye-drop suite of the Sterile Facility commenced production at the Port Elizabeth-based site. The hormonal suite of the Sterile Facility is scheduled to commence commercial production before the end of the 2010 financial year. Capital projects in progress include the addition of increased tableting capacity and the installation of suppository and dutch medicines manufacturing at the East London site. Reconstruction of the drying tower at the Nutritionals Facility is well advanced and production is expected to recommence within the next six months. Sub-Saharan Africa Business: In anticipation of the future materiality of this region, Aspen has established a separate management and reporting structure for the sub-Saharan Africa business. Included in this business segment are exports into sub-Saharan Africa from South Africa, the Shelys Africa business based in East Africa and the GSK Aspen Healthcare for Africa collaboration. Revenue from the sub-Saharan Africa business declined from R464 million in the prior period to R279 million and operating profit decreased from R99 million to R45 million. The steep reversal in results was due to export business lost through the genericisation of patented ARV molecules marketed by Aspen. Sales by Shelys Africa were also reduced as this business shed low margin tenders in accordance with the strategic plan for the operation, without affecting profits. GSK Aspen Healthcare for African began operations on 1 December 2009 and will in future be the most material contributor to the region. International Business: Revenue from the international business increased by 12% to R1.797 billion. Gains from Global brands, the Asia Pacific domestic brands, the oncology business and the additional revenue from the GSK transactions were partially offset by reversals in Latin America. Operating profit declined from R554 million to R463 million largely as a consequence of losses in Latin America and a strengthening of the Rand against most of the underlying trading currencies. An 18% increase in revenue to R824 million from the Global brands is largely attributable to revenue from Eltroxin, Lanoxin, Imuran and Zyloric, which were acquired with effect from 30 June 2008. Worldwide sales from these four Global brands achieved double-digit growth in United States Dollars (“USD”). The balance of the growth in the Global brands came from the addition of Aggrastat and the introduction of the eight products acquired from 1 December 2009 under the GSK transactions. The Asia Pacific domestic brands increased revenue by 8% to R522 million. This business, largely Australian based, again performed well considering the downward pricing pressure being experienced in this territory. Aspen has exercised its call on the remaining 49% shareholding in the Latin American businesses. Given that Aspen already has full rights to the economic performance of these businesses there is no further purchase consideration required for the acquisition of this remaining shareholding. Revenue from domestic brands in Latin America declined by 15% to R345 million. The primary underperformer was the Brazilian business, Aspen’s largest operation in the region. Aspen has assumed full operational control of the Brazilian business and has implemented a

Johannesburg – JSE listed Aspen Pharmacare Holdings Limited, Africa’s largest pharmaceutical manufacturer, has produced excellent results for the year ended 30 June 2009. Prevailing global economic conditions did little to deter the strength of the Group’s performance, with the South African and Australian businesses continuing to perform well. Aspen’s international expansions resulted in substantially increased contributions from the offshore businesses, delivering an operating profit of R1.076 billion. GROUP PERFORMANCE: Group revenue increased by 80% to R8,450 billion (R4.881 billion). Group operating profit improved by 82% to R2,183 billion (R1.298 billion). Group headline earnings per share (HEPS) grew by 68% to 389.4 cents (231.3 cents). Stephen Saad, Aspen Group Chief Executive said, “The Group’s international operations delivered positive results, delivering an increased contribution to earnings of 47% up from 15% last year. The South African business has achieved excellent growth and has increased its contribution to earnings by 14%, while retaining its position as the market leader in the pharmaceutical sector and improving its market share in all market segments. SOUTH AFRICAN OPERATIONS RETAIN MARKET LEADERSHIP Aspen’s South African business remains the market leader in the total private pharmaceutical market, the private generic market, the public sector pharmaceutical market and in the supply of anti-retrovirals (ARVs) to both the private and the public sectors. Campbell Belman’s independent Confidence Standing Survey of 42 over-the-counter (OTC) companies by 146 top retail pharmacies, again ranked Aspen as the top OTC company for the fourth time in the past six years. The South African business increased revenue by 30% to R4,868 billion amidst difficult trading conditions. Notwithstanding margin pressure, EBITA grew by R149 million to R1,208 billion. Restrictive factors such as accelerated raw material prices, production inflation and legislated fixed Single Exit Prices (SEP) impacted returns in the first half. A margin improvement was seen in the final quarter as a consequence of the Department of Health’s 13.2% increase in SEP in February 2009 and the implementation of the state tender price adjustment mechanism. An impressive performance was delivered by the pharmaceutical division, with revenue increasing by 34% to R3,767 billion. These results were driven by organic volume growth and the successful launches of Truvada, Viread, Vectoryl and Aspen Efavirenz. The consumer division’s 16% revenue increase to R1.101 billion was positive given the depressed retail sector. Leading brands such as Lennon Dutch Medicines, Infacare, S26, Guronsan C and Hamburg Tea delivered a credible performance. Prospects for the ophthalmic portfolio were enhanced with the addition of Eye-gene and Murine, while Melegi, a new infant milk formulation was launched and exported into selected African countries. Additional oral solid dose (OSD) manufacturing capacity was realised in Port Elizabeth with the completion of more packing lines. This provided relief to production pressure driven by unprecedented public sector demand. The new OSD tabletting production plant, presently undergoing validation, will provide further capacity before the end of 2009. The Sterile Facility’s eye-drop suite has commenced exporting Clear Eyes and Murine to Prestige Brands in the United States, while trials have been initiated in the hormonal suite. An explosion in the drying tower at Aspen’s Nutritionals Facility on 18 August 2009 caused extensive damage to that section of the production site. Blending and packing areas were unaffected and production in the drying tower should recommence before the end of the 2010 financial year. Contingency plans have been implemented to ensure continued supply of infant milk formulations to the market. INTERNATIONAL OPERATIONS DELIVER PLEASING RETURNS Over the past 18 months, the Group’s international expansion has been driven by acquisitions in Brazil, Mexico, Venezuela, Tanzania, Kenya and Uganda. With effect from 30 June 2008, the Group’s intellectual property portfolio in international markets was significantly enhanced by the acquisition of four globally branded products, Eltroxin, Lanoxin, Imuran and Zyloric from GSK for GBP 170 million. The global product range was also supplemented by two licensing transactions for branded products with US-based Iroko Pharmaceuticals. Aspen products are now distributed to more than 100 countries across the world. This expansion has resulted in a substantial increase in the contribution from international operations to the Group. Revenue of R3,869 billion was achieved, up from R1,123 billion and EBITA from continuing operations was R1,071 billion, up from R209 million. The global brands comprised R1.438 billion of revenue. Transition of distribution arrangements for the global brands to the Aspen network has already commenced, with the remainder of the transition scheduled in the 2010 financial year. Aspen Australia’s positive performance yielded a 29% increase in revenue to R915 million, despite legislated price cuts. These results were driven by effective product promotions and expanded product offerings. Aspen’s Latin American business recorded revenue of R841 million, but the potential of this territory remains to be realised. Initiatives receiving active attention include the strengthening of management, increasing representation in the private sector, launching new products and establishing a medium-term product pipeline. The Group’s East African business reported revenue of R373 million in a year in which political unrest in Kenya had a negative impact upon trade. Aspen disposed of its 50% shareholding in the ARV active pharmaceutical ingredient manufacturer, Astrix, for USD 39 million, with effect from 31 May 2009. GSK TRANSACTIONS On 12 May 2009 Aspen announced that it had agreed terms on a series of strategic interdependent transactions (“the GSK transactions”) with GSK, being: the acquisition of the rights to distribute GSK’s pharmaceutical products in South Africa; the formation of a collaboration arrangement between Aspen and GSK in relation to the marketing and selling of prescription pharmaceuticals in sub-Saharan Africa; the acquisition by Aspen Global of eight specialist branded products (Alkeran, Leukeran, Purinethol, Kemadrin, Lanvis, Myleran, Septrin and Trandate) for worldwide distribution; the acquisition of GSK’s manufacturing facility in Bad Oldesloe, Germany; and Aspen to issue 68.5 million shares to GSK as consideration for the transactions. The completion of the transactions was subject to the fulfillment of a number of conditions precedent. Certain of these conditions precedent have now been fulfilled, amongst these the approval of the South African Competition Authorities

Johannesburg – JSE listed Aspen (Apn), Africa’s largest pharmaceutical manufacturer, has recorded strong revenue growth for the six months ended 31 December 2008. The positive returns were stimulated by Aspen’s recently expanded international operations. The existing businesses in South Africa and Australia have once again recorded sustained growth. Revenue increased by 91 percent to R4 264 million (R2 230 million). Operating profit increased by 84 percent to R1 163 million (R633.8 million). Headline earnings per share (HEPS) increased by 77 percent to 193.8 cents (109.6 cents). Increase in earnings per share (“EPS”) was lower than HEPS at 54 percent to 192.5 cents (125.0 cents) owing to the inclusion of non-recurring capital profits in the determination of EPS in the prior year. Stephen Saad, Aspen Group Chief Executive said “we are pleased to have delivered such positive results in a challenging operating environment. The Group’s international businesses have been the primary growth driver for the period under review. For the first time, profits from offshore operations exceeded those of the South African business. Aspen’s local presence remains strong with increased market share in all pharmaceutical categories. The Group retaining its ranking as the leading pharmaceutical company in the South African private and public market sectors.” SOUTH AFRICAN OPERATIONS Aspen’s South African business increased revenue by 32% to R2 331 million (R1 771 million). This growth was led by the pharmaceutical division which grew sales by 35% to R1 789 million driven by a substantial increase in volumes and a positive performance from recently launched products such as Truvada™, Viread™, Vectoryl™ and Aspen effavirenz. Growth in earnings before interest, tax and amortisation (“EBITA”) was limited to 10% at R586 million owing to a change in product mix due to a lower margin in public sector products, higher commodity prices, inflationary pressures and fixed pricing under both the Single Exit Pricing (“SEP”) regulations and the State Tender awards. The over-the-counter (“OTC”) division delivered good results with leading brands such as Flusin™, Lenadol® and Sinuclear® contributing positively. Aspen has successfully launched replacement products under its major slimming brands Thinz®, Leanor™ and Slenz® due to the South African Medicines Control Council’s (“MCC”) banning of d-norpseudoephedrine, the active ingredient in slimming preparations. Household brands such as Lennon Dutch Medicines®, Woodwards™ Gripewater and Guronsan® C supported the consumer division’s 22% revenue growth which is a pleasing return given the pressure felt in the retail sector. Laxative brands are being re-developed following the MCC’s withdrawal of phenolphthalein-containing products. Excellent returns were recorded by Aspen Nutritionals. The existing portfolio of infant nutritional brands such as Infacare®, S26® and SMA® was enhanced with the launch of Melegi™, which is exported to selected African countries. High levels of productivity were achieved at Aspen’s manufacturing facilities in order to respond to growing volumes. Continued investment in manufacturing will unlock additional capacity at the Port Elizabeth site. Commercialisation of eye-drops at Aspen’s Sterile Facility is expected to take place before year-end. Aspen will supply eye-drops to the USA market under a contract with Prestige Incorporated. INTERNATIONAL OPERATIONS Contributions from Aspen’s international operations increased sharply, following the Group’s recent expansion into more than 100 new markets. An increase in revenue was recorded at R1 934 million (R460 million) while EBITA rose to R630 million (R101 million). The Group also strengthened its intellectual property portfolio with the acquisition of Eltroxin™, Lanoxin™, Imuran™ and Zyloric™ from GlaxoSmithKline (“GSK”) and licensing deals with US-based Iroko Pharmaceuticals for the distribution of products into emerging markets. Revenue from global brands amounted to R696 million. Aspen Australia recorded sustained growth through the expansion of its product offering, thereby increasing revenue by 55% to R484 million (R311.7 million). Group revenue from the Latin American operations comprised 10% with sales of R408 million. The primary contributor was Brazil’s Cellofarm accounting for R330 million, with the Mexican and Venezuelan companies contributing the balance. Strategies are in place to grow the Brazilian market share, with focus being re-directed to the private sector. A brand development strategy has been initiated and 150 experienced sales representatives have been recruited for the fulfilment thereof. Construction of the manufacturing facilities in Campos, Brazil has been completed. The Brazilian authorities have accredited the Penem Facility thereby enabling the commencement of commercial production. The Penicillin Facility is awaiting final regulatory approval. Shelys, the Group’s business in East Africa, recorded revenue of R200 million in Tanzania, Kenya and Uganda. The OTC Manufacturing Facility under construction in Nairobi, is due for completion before the end of 2009. PROSPECTS Growth in South African volumes is expected to remain buoyant during the second half of the year. The 13.2% increase in SEP will offset the impact of higher supply costs. Despite trading difficulties in the retail sector, it is anticipated that the successful strategies implemented by the consumer division will yield favourable results. Additional production capacity will be realised during the forthcoming calendar year when Aspen’s three major capital projects in Port Elizabeth, valued at R1 billion, are completed. The solid dosage manufacturing and packing capabilities will cater for anticipated growth in demand from domestic and international markets. The Sterile Facility will provide Aspen with production capabilities in injectables, hormonal injectables and eye-drops for all major international markets. It is expected that the international businesses will provide significant impetus to the Group’s growth. Cognisance should be taken of influencing factors most notably global currency exposures and world market volatility. The product pipeline for the international business remains a major focus area with benefits expected to become apparent in the next two to three years. The Bangalore Oncology Facility has been accredited by the Australian Therapeutic Goods Association and commercial production is scheduled to commence in 2010. The disposal of Aspen’s 50% shareholding in Astrix remains subject to fulfilment of conditions precedent. Aspen’s performance in the first half of this financial year has shown resilience and strategies have been implemented which are designed to add to the Group’s performance in future years.

Aspen shareholders are hereby advised that earnings per share, for the 6 months ended 31 December 2008, are forecast to exceed those reported in the comparative period ended 31 December 2007, by 45-60%. Headline earnings per share are forecast to exceed those of the comparative period by 65-80%. As anticipated, a strong contribution from Aspen’s recently expanded international operations has been the leading growth driver. The difference between the quantum of the anticipated percentage increase in earnings per share and in headline earnings per share is due to non-recurring capital profits being included in earnings per share in the comparative period. The financial results on which this trading announcement is based have not been reviewed or reported on by Aspen’s external auditors. Aspen’s results are expected to be published on SENS on 05 March 2009. Sponsor Investec Bank Limited

Johannesburg – JSE listed Aspen Pharmacare Holdings Limited, Africa’s largest pharmaceutical manufacturer, is pleased to announce positive results for the year ended 30 June 2008. The Group delivered sustained growth from its existing bases in South Africa, Australia and Asia. A series of significant transactions were concluded to expand the Group’s footprint into Latin America, East Africa and more than 100 new markets globally. This sets the platform for a new growth trajectory. GROUP PERFORMANCE: • Group revenue increased by 21% to R4.9 billion (R4.0 billion). • Group operating profit improved by 14% to R1.2 billion (R1.1 billion). • Group earnings per share increased by 19% to 245.3 cents (205.7 cents). • Group headline earnings per share (HEPS) grew by 10% to 231.3 cents (210.1 cents). Stephen Saad, Aspen Group Chief Executive said, “Aspen has retained its leadership position in the South African market, while the Group has increased its presence in emerging markets with particular growth in the southern hemisphere. In addition, Aspen’s worldwide product portfolio has been expanded by the addition of four established branded products from GlaxoSmithKline (“GSK”) and an investment in an oncology franchise.” SOUTH AFRICAN OPERATIONS CONTINUE TO LEAD THE MARKET The South African business grew revenue by 15% to R3.8 billion and increased operating profit to R1.1 billion. The Pharmaceutical division recorded satisfactory revenue growth of 17% at R2.8 billion, amidst increasing pricing pressures, adverse economic conditions, sharp rises in the cost of materials and legislative challenges. The annual single exit price increase of 6.5% was granted in May 2008, four months later than anticipated. Closure of Chinese raw material facilities ahead of the Beijing Olympics led to a worldwide shortage of raw materials resulting in sharp base price increases which impacted the cost of manufactured goods. The Consumer division increased revenue by 9% to R950.9 million. Despite heightened competition and challenging market conditions, Aspen continued to be the preferred supplier to the public sector. More than 70% of the volumes in the South African government’s anti-retroviral (“ARV”) tender, awarded in June 2008, were secured, providing further evidence of Aspen’s international competitiveness. A SURGE OF ACTIVITY IN ASPEN’S INTERNATIONAL OPERATIONS Aspen Australia continued its impressive record of growth with revenue up 39% to R708.9 million and EBITA up by 34% to R95.7 million. In a market which faces price cuts, Aspen Australia delivered organic growth through innovative management, making it the sixth largest pharmaceutical company in Australia in terms of the number of Aspen products prescribed. Indian-based ARV active pharmaceutical ingredient (“API”) producer, Astrix, benefitted from the rise in demand for ARV’s. Astrix’s revenue doubled to R198.8 million with EBITA growing proportionally to R47.3 million. Aspen increased its presence in emerging markets with the conclusion of deals in Latin America and East Africa. In March Aspen acquired 50% of the Latin American businesses from Strides which are situated in Brazil, Mexico and Venezuela. This holding has since been raised to a controlling interest of 51%. In May 60% of Shelys Africa was purchased, providing access to the Tanzanian, Kenyan and Ugandan markets. Close to year-end, Aspen announced two watershed deals with leading multinational GSK. Four branded products, namely, Eltroxin, Imuran, Zyloric and Lanoxin, were acquired for GBP170 million, giving Aspen access to more than 100 new global markets. In a subsequent deal, a licensing and supply agreement was signed whereby GSK will source a range of generic products from Aspen and its Bangalore-based joint venture, Onco Therapies (“Onco”), for distribution into its developing markets. Onco will commence commercialisation of specialist oncology and generic products in 2010. COMMITTED INVESTMENT IN MANUFACTURING CAPABILITY The Group’s investment in manufacturing capabilities in South Africa continued during the year with capital expenditure of R379.3million. The upgrade to the Heritage Facility in Port Elizabeth is progressing according to schedule and is aimed at maintaining pace with increasing international production standards as well as adding capacity. The US Food and Drug Administration-accredited Oral Solid Dosage Facility, underwent further expansion to unlock additional capacity to meet increased domestic and export demand. The Sterile Facility is in the process of being validated with the commercialisation of eye drops for export into the US market expected during the first half of 2009. PROSPECTS As a consequence of the Group’s transformation during the past twelve months profits from international operations are expected to more than double during the forthcoming year. The international business currently contributes 16% to the Group’s operating profit. In spite of moderate growth from the South African business, the Pharmaceutical division is favourably positioned as the market leader in both the private and the public sectors. A healthy product pipeline has the potential to further accelerate performance. As South Africa’s generics brand of choice, Aspen is suitably positioned to benefit from the local and emerging market switch to quality generics. Increased manufacturing capabilities, a credible international presence and a diverse portfolio of products bodes well for continued growth prospects. Pricing pressures, legislation and inflationary factors continue to pose challenges to the pharmaceutical industry in general. Aspen will mitigate and manage these risks through new procurement initiatives, efficient commercial management and proactive engagement with legislators. Since its listing in 1998, Aspen has delivered an unbroken growth trajectory in both revenue and EBITA at a compound annual growth (CAGR) of 52% and 58% respectively. Shareholders have shared in this success through a CAGR of 50% in HEPS over the last ten years. The Group has embarked on a path of internationalisation by the successful conclusion of a number of strategic transactions over the past year. The acquired businesses and products add immediate value to Aspen’s earnings potential, supported by an established infrastructure which should enable growth to be sustained into the next decade. Issued by: Shauneen Beukes, Shauneen Beukes Communications Tel: +27 (012) 661-8467 : Cell: +27 82 389 8900 On Behalf Of: Stephen Saad, Aspen Group Chief Executive Tel: +27 (031) 580-8603 : Cell: +27 83 303 4833 Gus Attridge, Aspen Deputy Group Chief Executive Tel: +27 (031) 580-8605 : Cell: +27

Johannesburg – JSE listed Aspen (Apn), Africa’s largest pharmaceutical manufacturer, has recorded consistently positive results for the period ended December 2007. Revenue increased by 15 percent to R2.2 billion (R1.9 billion). Operating profit increased by 24 percent to R634 million (R 512 million). Earnings per share increased by 31 percent to 125.0 cents (95.3 cents). Headline earnings per share (HEPS) increased 15 percent to 109.6 cents (95.6 cents). This excludes the profit of R54 million earned on the part disposal of United Kingdom-based Co-pharma and the South African natural products portfolio. Stephen Saad, Aspen Group Chief Executive said “the Group’s retention of its ranking as the leading pharmaceutical company in the South African private and public market sectors was endorsed in the positive results reported. Aspen’s offshore operations showed steady growth with the Australian business delivering excellent returns. The pharmaceutical division within the South African business performed well, despite the delay in the registration process of new products from the Group’s robust pipeline. The commitment to the current investment in manufacturing infrastructure is a critical element of Aspen’s strategy and will provide additional capacity to meet increased demand from local and offshore markets. SOUTH AFRICAN OPERATIONS The South African business grew revenue by 14% to R1,771 billion (R1.550 billion) whilst earnings before interest, tax and amortisation (“EBITA”) increased by 17% to R577 million (R493 million). Finished dosage form pharmaceuticals performed well, increasing revenue by 21%, but this was tempered by negative growth in the active pharmaceutical ingredient (“API”) business and in the trading results of the consumer division. Growth momentum from new product launches was retarded due to fewer new product registrations than anticipated. Aspen increased its share of the public sector tenders awarded mid-way through the period despite intense competition, particularly from importers. Revenue from finished dosage form anti-retrovirals ARVs increased by 78% to R308 million. Fine Chemicals Corporation, the 50% owned API business, experienced reduced demand for its key products which lowered revenue and contracted margins. The Consumer division increased revenue by 3%. The downturn in the retail cycle was compounded by the discontinuation of a leading range of laxatives resulting from the regulator banning phenolphthalein. Margins came under additional pressure due to a sharp rise in the price of the critical ingredients for the manufacture of infant nutritionals arising from a worldwide shortage of milk. The natural products portfolio was sold off into a new entity at a profit before tax of R42 million. Aspen has retained 20% of the new company. Aspen’s investment in manufacturing capability and capacity in Port Elizabeth continued and now exceeds R1 billion. Plant validation has commenced at the Sterile Facility with commercial production scheduled for the second half of 2008. The first phase of the upgrade of the Heritage Manufacturing Facility will commence during the latter part of 2009, while enhancements to the packaging capacity at the Solid Dosage Facility should be complete before the end of 2008. International Operations Revenue from the international businesses grew by 19% to R460 million and EBITA increased by 52% to R118 million. Aspen Australia recorded excellent returns with revenue increasing by 20% to R312 million (R259 million) while EBITA improved by 30% to R48 million. UK-based Aspen Resources also performed well, increasing its contribution to EBITA by 24% to R36 million (R29 million). Aspen disposed of 51% of Co-pharma, the Group’s other UK business for R31 million, recording a profit on disposal of R17 million. Astrix, the Indian ARV API manufacturer owned 50% by Aspen, increased its contribution to Group revenue by 82% to R82 million whilst EBITA grew 41% to R18 million. Aspen has expanded its international footprint. The Strides Arcolab (“Strides”) of India transaction provides for a presence in the lucrative oncology market with the rights to 32 oncology products in development having been acquired as part of the deal. Aspen also concluded an agreement to acquire a 50% interest in Strides’ Latin American business comprising operations in Brazil, Mexico and Venezuela with effect from 1 March 2008 for a consideration of USD 152,5 million. Prospects A strong product pipeline and the leadership position in a growing market leaves the South African pharmaceutical business positively positioned with upside potential should there be an increase in the flow of product registrations received. Margins will however come under pressure until the announcement of the annual price increases by the Department of Health. The previous increase was effected on 1 January 2007. It is understood that this year’s increase may have been delayed so as to implement the increase in conjunction with the finalisation of the terms of the international benchmarking legislation. The recent sharp weakening in the rand will place further pressure on margins as imported input costs rise. The pricing regulations provide a mechanism to cater for additional price increases. The South African public sector ARV tender is due for award in May 2008. Despite increased competition, Aspen expects to remain a leading supplier of ARVs to the state. The consumer division in South Africa remains vulnerable to the retail cycle. The infant nutritional products have absorbed a sharp increase in raw material costs driven by global shortages and this position will be closely monitored. The international businesses are expected to continue performing well. While Aspen Australia is driving initiatives to improve its product offering, Astrix is becoming established as a leading supplier of first line ARV APIs. Opportunities to broaden Aspen’s reach into African markets have been identified and are being actively pursued. Aspen’s joint ownership in the Latin American businesses is expected to yield exciting developments in the foreseeable future. The Group’s extensive intellectual property portfolio will be an important growth driver in this territory in the future.

Johannesburg – JSE listed Aspen (Apn), Africa’s largest pharmaceutical manufacturer, has announced a sound set of results for the financial year ended June 30, 2007. These results take into account the higher effective tax rate of 28,9% (2006:25.3 percent). Revenue increased by 17% to R4,026 billion (R3.449 billion). Operating profit increased by 20% to R1,077 billion (R968 million). Headline earnings per share (HEPS) grew by 13% to 210,1 cents (185.4 cents). Capital distribution of 70 cents (62 cents) per ordinary share was declared. Stephen Saad, Aspen Group Chief Executive said “these are solid results. The South African pharmaceutical division has performed well again and there has been excellent growth in the ARV business. We are now the largest pharmaceutical company in the private market as well as in the public sector. Our international business has also recorded good growth.” SOUTH AFRICAN OPERATIONS The South African business remains the key driver of the Group’s performance. Revenue grew by 15% to R3,266 billion (R2,849 billion) and EBITA showed a 20% increase to R1,053 billion (R913 million). The Pharmaceutical Division underpinned the strong returns of the South African business. Revenue increased by 17% to R2,397 billion (R2,054 billion). Adjusting for the effect of the sale of 50% of Fine Chemicals Corporation (Pty) Limited (FCC) midway through the prior financial year, revenue increased by 20% on a like-for-like basis. Finished dosage form (FDF) pharmaceuticals showed a 19% increase in revenue. In April 2007, Aspen topped the market share charts for the total private pharmaceutical market for the first time. The Group retained its generic leadership position with an unchanged 35%. Aspen increased its share of the over-the-counter (“OTC”) market, despite this sector’s pedestrian growth. Sales of FDF ARVs reached R439 million, denoting a growth of 65%. Aspen increased its ARV offering towards the end of the financial year with the introduction of Viread® and Truvada®, originator products distributed on behalf of Gilead Life Sciences, which are considered amongst the leading treatments available for HIV/AIDS today. Aspen has achieved strong growth in the export of ARVs into Africa and it is one of the leading suppliers of ARVs on the continent reaching some 500 000 patients. The Consumer Division reported satisfactory growth in revenue of 9% to R869 million. Toothpastes and infant nutritional brands delivered good increases. Investment in Aspen’s Group Operation’s production capabilities continued, with the total investment since 2003 set to pass R1 billion in the year ahead. The construction of the Sterile Facility is nearing completion with commercial production scheduled for the second half of calendar 2008. An upgrade project on the heritage General Facility has commenced which will add capacity and technology to this facility. An extension to the Oral Solid Dose (OSD) Facility will realise additional bottle packing capacity to cater for the increasing demand for this packaging format for ARVs. INTERNATIONAL OPERATIONS The international business increased revenue 26% to R760 million and raised EBITA by 31% to R145 million. These results benefited from a full year of contribution form the Astrix joint venture (2006: contribution for six months). Aspen Australia was the leading contributor to the international business. Results were bolstered by selective product portfolio expansion and a strengthening of the Australian dollar relative to the rand. Revenue increased by 28% to R509 million (R396 million) and EBITA increased by 35% to R71 million (R53 million). Aspen Resources, the UK-based intellectual property and sourcing company, also benefited from relative Rand weakness in growing EBITA by 40% to R56 million. Poor performance with a negative contribution to EBITA of R4 million was however recorded by Co-pharma, the Group’s other UK-based company which trades in the commodity generics sector. Aspen’s USA business is focused on assessing market opportunities in that territory and trading activity was not material. Astrix, the Indian-based manufacturer of ARV APIs, which is 50% owned by Aspen, experienced reducing margins in the second half of the year as competition in this market intensified. Supply of the ARV APIs to Aspen accounted for almost half of the Astrix revenue. PROSPECTS Aspen is well set to maintain its leadership position in the South African pharmaceutical market. Growth prospects for the year ahead are positive, with the investment made in the product pipeline and the production facilities expected to give added momentum to the Group’s performance. Announcement of the public sector tender awards for the next two years is imminent. Aspen is optimistic that it will secure an increased share of this business. The ARV tender is due for submission later this year for award early in 2008. Aspen expects to remain an important supplier of ARVs to the South African government. Aspen’s growth trajectory in ARVs is expected to be maintained. The Group has the production capacity and the product offering to deliver to the increased demand for ARVs as the World Health Organisation works towards its target of universal access by 2010. The legislative environment for pharmaceuticals remains uncertain. This is by no means a circumstance confined to the South African market. The responsibility for delivery of healthcare, which is borne by governments throughout the world, inevitably gives rise to interventions by the regulator which can influence business prospects. Aspen continues to engage actively with the DoH on matters such as international benchmarking and the annual price review. The nomination of pharmaceuticals as a strategic industry by the South African governments is taken to be an extremely positive development. Aspen looks forward to working with government in building the industry in South Africa. The continued investment in the Group’s manufacturing facilities is of strategic importance. This investment has allowed Aspen to raise its manufacturing standards, which is particularly pertinent with South Africa’s entry into the Pharmaceutical Inspection Convention (“PIC”) with effect from 1 July 2007. The manufacturing standards and capacity established by Aspen have positioned the Group to reach export markets and to enter into manufacturing and trade partnerships with leading multi-national pharmaceutical companies. In an increasingly competitive global pharmaceutical market Aspen will seek to utilize the strength