MATRIX AND ASPEN AGREE TO DIVEST JOINT VENTURES

Hyderabad, India; 9 October, 2008 -- Matrix Laboratories Limited, India (Mumbai Stock Exchange, 524794; National Stock Exchange, MATRIX LABS) and Aspen Pharmacare Holdings Limited, South Africa (JSE Limited, APN), announced today that they have executed agreements pursuant to which, generally speaking, Matrix’s wholly owned subsidiary Matrix Laboratories BV, a company registered and incorporated in accordance with the laws of the Netherlands ("Matrix BV"), would divest its stake in Fine Chemicals Corporation (Proprietary) Limited, a South African based 50-50 joint venture between Matrix (shares being held by Matrix BV) and Aspen, to Aspen and additionally Aspen would divest its stake in Astrix Laboratories Limited, an Indian based 50-50 joint venture between Matrix and Aspen, to Matrix. Aspen has retained a shareholding in Astrix through a Class B share. Matrix and Aspen have executed long term supply agreements for the supply of antiretroviral (ARV) active ingredients and formulations.

Matrix Non-Executive Chairman Robert J. Coury said, "This transaction enables Matrix to significantly increase the reach of its world-class ARV portfolio and, consequently, facilitate access to affordable treatments for HIV / AIDS patients worldwide, particularly in under served areas. We intend to expand our contribution to the already substantial global efforts to enhance the quality of life for those suffering from this devastating disease".

The consummation of the transaction is subject to customary closing conditions, including the receipt of the applicable regulatory approvals.

About Matrix:

Matrix Laboratories Limited, a subsidiary of Mylan Inc., USA, is a public limited company listed on BSE and NSE, and is engaged in the manufacture of Active Pharmaceutical Ingredients (APIs) and Solid Oral Dosage Forms. Matrix is one of the leading API manufacturers in India and focuses on regulated markets such as U.S. and EU. The company has a wide range of products in CNS, anti-bacterial, anti-AIDS, anti-asthmatic, cardiovascular, gastrointestinal, anti-fungal, pain management and life style related therapeutic segments. All API and FDF manufacturing facilities of Matrix are approved by the US FDA. For more information about Matrix, please visit www.matrixlabsindia.com.