February 10, 2006

The Editor
Times of India
Mumbai

Dear Sir,

This is in reference to the news item published by the Times of India on 9th February 2006 regarding possible acquisition of Matrix Laboratories Limited, Hyderabad, India by Teva Pharmaceuticals Industries Ltd, Israel.

We expressly deny that there is absolutely no truth in this news item and we confirm that the company is not in any discussions with Teva on this issue. We also regret to inform you that this news item has caused lot of inconvenience to our stakeholders and also to our business partners.

We request you to publish our denial to redress apprehensions in the minds of all concerned.

Thanking you,

Yours faithfully
For Matrix Laboratories Limited

C Ramakrishna
Director