Aspen Pharmacare Holdings Limited - Aspen signs MOU with Indian based Matrix

Aspen Pharmacare Holdings Limited - Aspen signs MOU with Indian based Matrix    
Aspen Pharmacare Holdings Limited                                               
(Incorporated in the Republic of South Africa)                                  
(Registration Number 1985/002935/06)                                            
Share code:  APN                                                                
ISIN:  ZAE000023586                                                             
("Aspen")                                                                       
Press Release                                                                   
Aspen signs MOU with Indian based Matrix                                        
Aspen Pharmacare Holdings Limited (Aspen), Africa"s largest pharmaceutical      
manufacturer and leading supplier of generics today announced that it has signed
Memorandums of Understanding (MOUs) with Indian based Matrix Laboratories       
Limited (Matrix) to strengthen Aspen"s vertical integration into the manufacture
of Active Pharmaceutical Ingredients (APIs).                                    
APIs are the key raw material in the manufacture of finished dosage form        
pharmaceuticals. Matrix is a leading global API manufacturer supplying all of   
the major international pharmaceutical markets and it is listed on the National 
and Bombay Stock Exchanges.                                                     
In terms of the strategic alliance comtemplated by the MOUs, Matrix and Aspen   
will form a Joint Venture (JV) in India to manufacture APIs required by Aspen,  
including anti retrovirals (ARVs). Aspen has been recognized as one of the      
world"s leading producers of ARVs. Matrix was one of only two API manufacturers 
worldwide to be accepted by the Clinton Foundation for the supply of ARV APIs.  
A second JV will be formed between Aspen and Matrix by the sale of 50% of       
Aspen"s current 100% shareholding in Fine Chemicals Corporation (Pty) Limited   
(FCC) to Matrix. Cape Town based FCC is South Africa"s leading API manufacturer 
and a major exporter of product to the USA.                                     
Stephen Saad, Aspen"s Group CEO said "our alliance with Matrix will be a major  
milestone in our effort to secure a strong supply source for APIs for some of   
Aspen"s key products, including ARVs. Matrix will also provide strategic inputs 
in running the business of FCC".                                                
N Prasad, Chairman and CEO of Matrix said "the strategic alliance that we have  
formed with Aspen is very significant and will go a long way in further         
strengthening our overall API business. In addition, this alliance will also    
give Matrix a strategic presence in South Africa".                              
The contemplated transactions remain subject to the conclusion of definitive    
agreements, the performance of due diligence investigations and the obtaining of
necessary approvals from, inter alia, the boards of directors of Aspen and      
Matrix, the South African Reserve Bank and the Reserve Bank of India.           
Issued by:          Shauneen Beukes, Shauneen Beukes Communications             
                    Tel: (012) 661-8467                                         
                    Fax: (088) (012) 6618467                                    
                    Cell: 082 389 8900                                          
On Behalf Of:       Stephen Saad, Aspen Holdings Group CEO                      
                    Tel: (031) 580-8602                                         
                    Fax: (031) 580-8640                                         
                    Cell:  083 303 4833                                         
Gus Attridge, Aspen Holdings Deputy Group CEO               

                    Tel: (031) 580-8604                                         
                    Fax: (031) 580-8640                                         
                    Cell: 083 628 8813                                          
April 8, 2005                                                                   
Sponsor:                                                                        
Investec Bank Limited                                                           
Date: 08/04/2005 02:30:49 PM Supplied by www.sharenet.co.za                     
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