ASPEN PHARMACARE HOLDINGS LIMITED - ACQUISITION BY ASPEN PHARMACARE HOLDINGS

ASPEN PHARMACARE HOLDINGS LIMITED - ACQUISITION BY ASPEN PHARMACARE HOLDINGS    
LIMITED ("ASPEN")OF FINE CHEMICALS CORPORATION (PTY) LIMITED ("FCC")            
Aspen Pharmacare Holdings Limited                                               
(Incorporated in the Republic of South Africa)                                  
(Reg. No 1985/022935/06)                                                        
Share Code: APN     ISIN:  ZAE000023586                                         
("Aspen")                                                                       
ACQUISITION BY ASPEN PHARMACARE HOLDINGS LIMITED ("ASPEN")                      
OF FINE CHEMICALS CORPORATION (PTY) LIMITED ("FCC")                             
Further to the announcement dated 10 March 2004, all of the conditions precedent
relating to the acquisition of FCC, by Aspen have now been fulfilled.  FCC      
manufacturers and supplies off-patent active pharmaceutical ingredients ("APIs")
to the pharmaceutical industry.  The transaction will complete today, 13 July   
2004.  The last outstanding condition, Competition Commission approval, was     
obtained on Friday 9 July 2004.  The Competition Commission approved the        
transaction subject to certain undertakings relating to the supply of narcotics 
in the South African market.  These undertakings require FCC to continue with   
the supply of narcotics on the principle terms used before the transaction.     
This undertaking is valid for a period of three years.                          
It is a stated strategic objective of Aspen to develop the capability for the   
production of the APIs used in the antiretrovirals to treat HIV/AIDS at FCC.    
The way is now clear for Aspen to engage with potential technology partners in  
this regard.                                                                    
FCC expects to report revenue of R170 million and EBITDA of R30 million for the 
twelve months prior to completion of the transaction.  The existing business is 
materially influenced by the relative strength of the rand, approximately 50% of
revenue being derived from exports.                                             
Durban                                                                          
13 July 2004                                                                    
Sponsor                                                                         
Investec Bank Limited                                                           
On Behalf Of:       Stephen Saad, Aspen Group CEO                               
Tel: (031) 580-8600                                                             
               Fax: (031) 580-8640                                              
Date: 13/07/2004 03:44:42 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department