Transactions

Aspen Pharmacare Holdings Limited (“Aspen”), listed on the JSE, South Africa (share code APN) and Strides Arcolab Limited, today announced a restructuring of their arrangements relating to the two oncology joint ventures (“JVs”) between Aspen and Strides, Onco Therapies Limited (“OTL”), India and Onco Laboratories Limited (“OLL”), Cyprus. The transactions The following are the material terms of the restructuring: a) Aspen Global Incorporated will sell its 50% ownership in the Oncology JVs to Strides for a consideration of USD 117 million; b) Strides will license the existing and future oncology products to Pharmacare Limited, an Aspen Group company, for certain territories; c) The effective date of the above transactions is the first day of the month following the fulfillment of the conditions precedent which include, inter alia, the approval of the Exchange Control Department of the Reserve Bank of South Africa; d) The payment terms are based upon certain future milestones with an outside date for settlement of all outstanding amounts by 30 April 2011. Rationale The transactions signal the strategic intent of Aspen and of Strides in the oncology market. The transactions compliment Aspen’s focus on sourcing differentiated products for supply through its international distribution network which reaches approximately 100 countries worldwide. Aspen already has a developing oncology business in most of these territories. Central to the Strides strategy is the enhancement of its manufacturing and development capabilities in its Specialties business. To this end, Strides has built capacities in facilities and development. This includes the establishment of world class sterile assets in India, Europe, the recent acquisition of the Campos facility in Brazil, and taking over full ownership of the Oncology JVs. The value of these assets has been demonstrated by the attraction of numerous leading pharmaceutical partners, including multinationals. Stephen Saad, Aspen Group Chief Executive said: “Through these agreements we continue to build on the strong partnership we enjoy with Strides. Each party now does what they do best. Our focus is commercialisation of these niche products in our territories. Aspen has and is building its own oncology product franchise. The existing and future pipeline of products from the Strides Group will be an important contributor in achieving this objective. There is a clear definition now of responsibilities and focus. The close association forged over the last decade continues. We believe that these transactions, together with their current expertise, leave Strides well positioned in their endeavours to grow their global sterile business.” Arun Kumar, Vice Chairman and Group CEO of Strides said “While the restructuring of the oncology arrangements with Aspen provides Strides greater focus and ownership of a key domain in our specialties division, we are delighted to strengthen our existing strong partnership with Aspen by entering into a licensing agreement in territories where Aspen has established distribution.” Issued by: Shauneen Beukes, Shauneen Beukes Communications Tel: +27 12 661-8467 : Cell: +27 82 389 8900 On Behalf Of: Stephen Saad, Aspen Holdings Group Chief Executive Tel: +27 31 580-8602 Gus Attridge, Aspen Holdings Deputy Group Chief Executive Tel: +27 31 580-8604 Roshni Gajjar, Aspen Investor Relations Manager Tel: +2731 580-8649; Cell: +27 82 789 1826 About Aspen Aspen, a Top 40 company listed on the Johannesburg Stock Exchange, is Africa’s largest pharmaceutical manufacturer and one of the Top 20 generics manufacturers worldwide. Aspen is a supplier of branded and generic pharmaceuticals in approximately 100 countries across the globe and of consumer and nutritional products in selected territories. Aspen has 15 pharmaceutical manufacturing facilities at 10 pharmaceutical manufacturing sites on five continents. Aspen has production capabilities for tablets, capsules, steriles, injectables, penicillins, penems, liquids, creams and infant milk formulations. For more than 150 years, Aspen has been providing high-quality, affordable products to its customers. Aspen’s has a robust pipeline of generic products which are developed under the direction of highly skilled scientists employed by Aspen and in collaboration with other global pharmaceutical research and development companies. Strides Arcolab Limited: Leadership Through Partnering Strides Arcolab, listed on the Bombay Stock Exchange Limited (532531) and National Stock Exchange of India Limited (STAR), is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceutical products with an emphasis on sterile injectables. The company has 14 manufacturing facilities across 6 countries, including its joint venture with Aspen in India and has a marketing presence in more than 60 countries in developed and emerging markets. Manufacturing is ably supported by a 350-scientist strong global R&D Centre located in Bangalore. Additional information is available at the company’s website at www.stridesarco.com.

Johannesburg – Eli Lilly today announced the US$1 million milestone payment to Aspen, South Africa’s leading pharmaceutical manufacturer, as part of the joint collaboration on expanding access to medicines to treat multidrug-resistant tuberculosis (MDR-TB). The milestone is part of a Transfer of Technology agreement between Aspen and Lilly, initiated in 2003 under the umbrella of the Lilly MDR-TB Partnership, a global project to tackle the growing MDR-TB epidemic. The collaboration involved the transfer of Lilly’s drug manufacturing and packaging technology to enable Aspen to manufacture two essential anti-TB drugs. Lilly provided manufacturing know-how, access to technical experts, and other assistance to assure the quality and sustainability of the manufacturing processes. This Milestone “Aspen has invested more than R1 billion in the construction and enhancement of its local manufacturing facilities which includes South Africa’s only freeze-dried lyophilisation capability. The Lilly MDR-TB initiative collaboration arrangement is a further important milestone as it enables Aspen to manufacture and distribute Capreomycin, one of the few key treatment options available for the highly virulent MDR-TB. Lilly’s approach, amongst others, through the capex contribution to the project, is consistent with South Africa’s Industrial Policy of retaining and developing critical skills and unique technologies, reducing the dependency on imported products and providing export opportunities for the pharmaceutical sector”, said Stavros Nicolaou, Aspen Senior Executive. “This payment represents an important milestone in our partnership with Aspen,” said Iain Richardson, Senior Director of Global Supply Chain and Logistics at Eli Lilly and Company. “This collaboration ensures patients in the region and globally will receive an uninterrupted supply of quality MDR-TB drugs from a reliable manufacturer.” The partnership with Aspen represents one of four similar partnerships Lilly holds with pharmaceutical manufacturers based in high burden countries where MDR-TB is most prevalent. These additional partnerships are between Lilly and SIA International (Russia), Shasun Chemicals and Drugs (India), and Hisun Pharmaceutical Co., Ltd (China).

Johannesburg: Aspen Nutritionals, manufacturer of S-26 and other infant milk formulations (IMFs), confirms that all IMFs manufactured and marketed by Aspen Nutritionals are safe for infant consumption. This statement is being issued in response to a media report concerning the Tanzanian Food and Drug Administration’s withdrawal notification of a consignment of S-26, which, until proven otherwise, could be counterfeit product. Karyn Purchase, Aspen Nutritionals Factory Manager said, “S-26 has been manufactured in South Africa for the past 40 years without any adverse incident being recorded. S-26 and all other IMFs sold by Aspen on the South African market are tested to the highest international standards, meeting not only the latest South African Foodstuffs, Cosmetics and Disinfectants Act and regulations (ACT 54: 1972), but also CODEX / WHO standards applicable to IMFs and Follow-On formulations, FDA CFR21 (applicable legislation “Infant Formula Quality Control Procedures). Aspen’s IMFs have always met all International Quality and Food Safety requirements”. Aspen’s Clayville Facility, which manufactures IMFs, is GMP and HACCP certified through the Perishable Products Export Control Board (PPECB), which is accredited with the South African National Accreditation System (SANAS). Up to sixty individual tests including physical, sensorial, chemical and microbiological testing is performed on every single batch number of IMFs sold by Aspen to ensure that the food safety of our customers is protected 100%. Additionally a complete stability programme is in place to ensure continued suitability and safety, and efficacy of all IMF products up to the shelf life of each product. Independent complete testing of all IMFs to monitor proficiency of local quality control operations is routinely conducted. Testing includes contaminants and residues testing including Melamine and Radionuclides to comply with all local and International guidelines. Issued by: Shauneen Beukes, Shauneen Beukes Communications On Behalf Of: Karyn Purchase, Aspen Nutritionals Factory Manager Tel: (011) 206-9510 : Cell: 083 625 0810

OFFICIAL STATEMENT REGARDING THE ALLEGED PURCHASE TRANSACTIONS ENTERED INTO BETWEEN ASPEN AND FRANKEL CHEMICALS FOR THE PURCHASE BY ASPEN FROM FRANKEL CHEMICALS OF RAW MATERIALS FOR THE MANUFACTURE OF ANTI-RETROVIALS. ASPEN PHARMACARE HOLDINGS LIMITED AND ITS AFFILIATES (“Aspen”) AND FRANKEL CHEMICALS (“Frankel”) It has come to the attention of Aspen that information allegedly pertaining to the business relationship between Frankel and Aspen has been provided to the international investment community and the general public. Aspen hereby wishes to clarify that the alleged purchases and related amounts owing are invalid and have arisen as a result of the falsification of documents. The allegations are currently sub-judicae. Aspen will co-operate, without restriction, with all statutory investigating authorities and comply with all legal requirements relating to this matter. Frankel have alleged that: (i) “Over the past five years, Frankel Chemicals has been awarded the contract to procure Anti-Retroviral (“ARV”) ingredients for Aspen Pharmaceuticals Ltd in South Africa to combat the spread of HIV/AIDS. The contract was awarded based on the good merits and relations Frankel has with this customer”* (ii) Aspen is indebted to Frankel in the amount of R700 million; (iii) Mr Stephen Saad, the Chief Executive Officer of Aspen, has verbally confirmed “payment terms” with Frankel for the payment of the aforesaid sum of R700 million. Aspen hereby confirms the following facts: (i) Aspen currently purchases selected raw materials directly from Frankel; (ii) Whilst Frankel is listed as an agent of Aspen for the supply of certain other chemicals, Aspen deals directly with the suppliers thereof on a direct indent basis; (iii) Aspen has transacted with Frankel and Frankel International, but has not undertaken business with any of the following entities (which purportedly form part of the Frankel Group), namely: Eurochemicals Pty Ltd Frankel SA Frankel Enterprises Frankel Asset Management Abated Investments; and Bartan Group (Australia). (iv) As at the date of this letter there are no monies due to or owing to Frankel or payable by Aspen to Frankel, or any of its affiliates, for the alleged purchases of ARV materials. (v) Aspen purchases all of its Active Pharmaceutical Ingredients, which are used for the manufacture of ARV products, from other third party suppliers. (vi) Aspen is aware of the existence of documents representing to be purchase orders and other correspondence between Aspen and Frankel which were neither prepared nor authorized by Aspen. These documents have been fraudulently prepared using forged purchase order templates and forged signatures, representing Aspen personnel. Should you have specific queries on this matter, please contact Mr. Pieter van der Sandt, Legal Counsel for Aspen on (011) 239 6522.

Press Conference Presentation <Click to download> SENS Announcement <Click to download> The Transactions comprise: The acquisition of the rights to distribute GSK products in South Africa by Aspen’s wholly owned subsidiary, Pharmacare Limited (“the SA Component”); The formation of a collaboration arrangement in relation to the marketing and selling of prescription pharmaceutical products in sub-Saharan Africa (“SSA”), (excluding South Africa, Lesotho and Swaziland) between Aspen and GSK, to be known as “GSK Aspen Healthcare for Africa” (“the SSA Collaboration”) The acquisition by a newly formed wholly-owned subsidiary of Aspen of GSK’s manufacturing facility in Bad Oldesloe, Germany as a going concern (“the Facility”); and The acquisition by Aspen’s wholly owned subsidiary, Aspen Global, of eight specialist products for worldwide distribution (“the Products”). Stephen Saad, Aspen Group Chief Executive said: “The Transactions further strategically complement Aspen and GSK’s strong and mutually beneficial relationship which has been fostered over several years. The Transactions will reinforce Aspen’s position as a leading provider of quality, affordable medicines across Africa. The acquisition of additional products for distribution into worldwide markets supports Aspen’s recently implemented internationalisation strategy into emerging markets and the establishment of a global distribution network. ” Aspen two As consideration for the Transactions, Aspen will issue 68.5 million ordinary shares to GSK (approximately 16% of Aspen’s issued ordinary share capital after the issue thereof). On completion of the Transactions GSK will attain the right to nominate one member to the Aspen Board. The final value of the Transactions and the attribution of this value to the individual transactions will depend on the price at which Aspen shares are trading on the JSE upon completion of the Transactions. Details of the Transactions: a) The SA Component: Aspen will acquire the rights to sell, market and distribute GSK’s products in SA for a minimum period of twenty years.GSK will maintain a presence in South Africa through its retained Consumer Healthcare business and the GSK scientific office. b) The SSA Collaboration: GSK and Aspen will enter into a collaboration arrangement for the commercialisation of a portfolio of branded prescription pharmaceutical products in SSA.. The portfolio of products will include a combination of GSK and Aspen products. GSK’s existing distribution platform in SSA will be used for this purpose. Aspen’s subsidiary in East Africa, Shelys, is presently excluded form the ambit of this collaboration arrangement. GSK is one of the leading pharmaceutical companies in SSA, covering most territories in this region with its diverse and recognised portfolio of branded products. Aspen’s extensive product portfolio will supplement GSK’s existing position in the region. The benefits of a combined portfolio of products, supported by a strong distribution network will enable Aspen and GSK to increase access to high-quality, affordable healthcare throughout SSA under the collaboration brand of “GSK Aspen Healthcare for Africa”. c) Acquisition of manufacturing facility in Bad Oldesloe, Germany: Aspen will acquire the business comprising GSK’s manufacturing facility in Bad Oldesloe, Germany as a going concern. The Facility currently manufactures a range of products, including some of the products which Aspen is to acquire from GSK through the Transactions as well as products acquired from GSK through previous transactions. A ten-year supply arrangement with GSK for the continued supply of GSK retained products currently manufactured at the Facility has also been agreed to. The acquisition of the Facility will enhance Aspen’s existing manufacturing base and enable the Group to optimise production capacities to meet demand from its global markets. The technical skills and competence of staff at the Facility will further complement Aspen’s existing manufacturing capability. Aspen three last d) The acquisition of eight specialist products: Aspen Global will acquire eight specialist products from GSK for distribution into worldwide markets, except for Alkeran in the USA which will be retained by GSK. The products are: Alkeran, Leukeran and Purinethol – chemotherapy products which are used in the treatment of cancer; Kemadrin – used to treat and relieve the symptoms of Parkinson’s disease; Lanvis and Myleran – used for the treatment of leukemia; Septrin – a broad-spectrum anti-microbial; and Trandate – used for the treatment of high blood pressure. These products will add to Aspen’s existing global brands portfolio which contains products such as Eltroxin, Lanoxin, Imuran and Zyloric, acquired from GSK in June 2008, as well as Aldomet, Indocid and Aggrastat which are being dristributed under license from Iroko. The completion of the Transactions is subject to the fulfillment of, inter alia, the following conditions precedent: The approval of the Exchange Control Department of the South African Reserve Bank; The consent to the Transactions from Aspen Global’s existing long-term funders; The approval of the relevant competition authorities in relation to the SSA Collaboration; The approval of the SA competition authority in relation to the SA Component; The approval of the relevant competition authorities in relation to the acquisition of Aspen Global for the Products; Approval from the German competition authorities and various other German regulators for the purchase of the Facility; and JSE approval for the listing of the consideration shares. The terms of the agreement are expected to be completed before the end of 2009. From left to right: JUDY DLAMINI (ASPEN CHAIRMAN), STEPHEN SAAD (ASPEN GROUP CHIEF EXECUTIVE), NOEL GULIWE (ASPEN CHIEF EXECUTIVE : SOUTH AFRICA), GUS Issued by: Shauneen Beukes, Shauneen Beukes Communications Tel: (012) 661-8467 : Cell: 082 389 8900 Roshni Gajjar, Aspen Investor Relations Tel: (031) 580-8649 ; Cell: 082 789 1826 On Behalf Of: Stephen Saad, Aspen Holdings Group Chief Executive Tel: (031) 580-8600 Gus Attridge, Aspen Holdings Deputy Group Chief Executive Tel: (031) 580-8600

Aspen Pharmacare Holdings Limited (“Aspen”) and Matrix Laboratories Limited (“Matrix”) of the Republic of India, would like to announce the divestment of the existing joint ventures relating to the two chemical-manufacturing entities, Fine Chemicals Corporation (Proprietary) Limited (“FCC”) in Cape Town, South Africa and Astrix Laboratories (“Astrix”) Limited in Hyderabad, India. Aspen will acquire 50% of FCC from Matrix and, in turn, dispose of its 50% share in Astrix to Matrix. Aspen will retain a shareholding in Astrix through a B-share. Aspen and Matrix have secured a long-term supply agreement for the continued supply of anti-retroviral (”ARV”) active pharmaceutical ingredients. Furthermore, Aspen has acquired the rights to distribute a number of new generation ARV combination products into the South African and African markets. Stephen Saad, Group Chief Executive of Aspen said, “Aspen has retained all of the commercial rights and strategic advantage it previously enjoyed through Astrix, including priority of supply and maintenance of existing transfer pricing philosophies for ARVs, in both the revised shareholders agreement and various long term supply agreements. In addition Aspen has secured exclusive rights to a number of novel ARV combinations for South Africa. The arrangements will ensure the sustainable continuation of a successful long-term partnership in the fight against HIV AIDS. Matrix has secured and retained Aspen as a key customer and business partner. With outright ownership of FCC we will be seeking to achieve a more effective vertical integration of this business into the Aspen Group.” The agreement is subject to precedent conditions, including regulatory approval of the transactions. About Aspen: Aspen is the largest generics manufacturer in the southern hemisphere and it is also the leading supplier of generic medicines to both the private and the public sectors in South Africa. Aspen is the leading provider of ARVs to the private and public sectors in South Africa. Aspen produces more than seven billion tablets and capsules per annum and has the manufacturing capability to produce a diverse range of generic and specialized products. Aspen’s extensive basket of branded, generic, over-the-counter, FMCG, personal care and nutritional products is renowned for its quality, efficacy and affordability. Aspen has international operations in Australia, Latin America, East Africa, India and Mauritius. Aspen’s products are distributed in more than 100 countries around the world. Issued By: Roshni Gajjar, Aspen Investor Relations Tel: +27 (031) 580-8649 : Cell: +27 82 789 1826 On Behalf of: Stephen Saad, Aspen Group Chief Executive Gus Attridge, Aspen Deputy Group Chief Executive

Further to the announcement made on 20 November 2007, Aspen is pleased to announce that its wholly owned subsidiary, Aspen Global Incorporated (“Global”) has agreed revised terms with Strides Arcolab Limited (“Strides”), a pharmaceutical company registered in the Republic of India, in respect of certain aspects of Global’s acquisition of an interest in Strides’ Latin American operations (“the Latam Operations”). The revised terms provide for the acquisition of a further 1% in the Latam Operations with immediate effect as well as a revision of the put and call options previously concluded. Hereafter this is referred to as “the Transaction”. With effect from 1 March 2008, Global acquired a 50% interest in the Latam Operations for an initial investment of US$152.5 million. Global will now acquire an additional 1% interest in the Latam Operations via the acquisition of shares from Strides for US$ 2.8 million. Global will thereby acquire management control. In terms of the agreement Global will also acquire the rights to 100% of the profits and dividends of the Latam Operations. In terms of the revised put and call options, Global has the right to acquire, and Strides has the right to sell to Global, Strides’ remaining 49% interest in the Latam Operations based on multiples of the EBITDA for the year ending 30 June 2009. The multiples are such that the effective purchase consideration for the entire share capital of the Latam Operations will amount to 9.32 times the EBITDA up to US$11.94 million plus 11.18 times the EBITDA over US$11.94 million. The maximum total effective consideration remains at US$ 333.5 million and would be payable if an EBITDA of US$31.8 million is achieved. The EBITDA is subject to adjustment such that it excludes the results of new acquisitions. The Transaction will be funded from existing cash resources.