The company is pleased to announce the following important organizational change.

Dr.C.Satyanarayana, the executive vice-President (Business Development and Technical Services), has been designated as the Chief Operating Officer (COO) of the company.

The board of directors of the company has decided to elevate Dr. C Satyanarayana to the position of COO in view of the valuable contributions made by him to the company. Dr. Satyanarayana has been associated with Matrix ever since the present management acquired the company in May 2000.

In his capacity as COO, Dr. Satyanarayana will be in-charge of all operational activities related to the business of Active Pharmaceutical ingredients.

Dr. Satyanarayana is a doctorate in Organic Chemistry and has about 20 years of experience in pharma industry, particularly in the area of Research & Development (R&D).