STRIDES ARCOLAB TO ACQUIRE DHA, SINGAPORE FOR S$ 19.7 MILLION

Strides Arcolab Ltd and Haw Par Healthcare, Singapore have entered into a share purchase agreement, which provides for Strides Singapore Pte Ltd (an indirect wholly owned subsidiary of the company) to acquire 100 per cent of Drug Houses of Australia (Asia) Pvt Ltd., Singapore (DHA) for a consideration of approximately Singapore $19.7 million, which was arrived at on a willing-buyer and willing-seller basis. Transaction is subject to customary closing conditions and is expect to complete within September 2006. Pharmabiz (http://pharmabiz.com/article/detnews.asp?articleid=34941§ionid=)