1. The above unaudited results were reviewed by the Audit Committee, considered and approved by the Board of Directors at their meeting held on 26th April 2005.

2. The figures for the corresponding quarter in the previous year pertain only to Matrix Laboratories Limited stand alone and to that extent is not comparable. Figures of the earlier period, have been regrouped to conform to those of the current quarter.

3. The activities of the Company relate to only one segment i.e. Pharmaceuticals.

4. The Company settled a potential Patent infringment suit favourably for Rs.979 million, of which Rs. 750 million was received .Out of this an amount of Rs.38.24 million is included under export sales.The balance will be accounted on a quarterly basis over a period of time for which benefits are being accrued.

5. The Company has purchased a finished dosage facility situated near Nashik , Maharashtra.

6. The Company formulated ESOP 2004 for granting 3 million stock options of Rs.2 each to eligible employees. In accordance with the applicable accounting standards, an amount of Rs.3.11 million is charged under Staff cost.

7. The Company lodged a claim for loss of profits in terms of the policies taken from Insurance companies consequent to a fire accident in one of its manufacturing units for Rs. 25 million accounted under Other Income, besides claims for loss of stock and equipment accounted under the respective heads.

8. The Company entered into MOU's for strategic alliance with Aspen Pharmacare Holdings Limited (APHL) South Africa for forming 50:50 Joint Ventures for API business; in India and in South Africa by acquiring stake in Fine Chemicals Corporation.

9. The Company entered into a MOU with MCHEM Pharma (Group) Limited, China to acquire 60 % stake in that company and four of its associate companies.

10. Summary of Investor Complaints

Opening	Received during the Quarter	Resolved	Closing
Nil	6	6	Nil