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SGX - Lilly Merger Offer Receives Positive Opinions From Proxy Advisory Firms
Date:8/13/2008

SAN DIEGO, Aug. 13 /PRNewswire-FirstCall/ -- SGX Pharmaceuticals, Inc. (Nasdaq: SGXP) today announced that Glass Lewis & Co. and Institutional Shareholder Services (ISS), two leading proxy advisory firms, have recommended that SGX stockholders vote "FOR" the merger agreement with Eli Lilly and Company (NYSE: LLY) at the SGX Special Stockholders Meeting scheduled at 9 am California Time for August 20, 2008.

The Board of Directors of SGX unanimously recommends that the SGX stockholders vote "FOR" the approval and adoption of the agreement and plan of merger and the approval of the merger and related transactions as described in the definitive proxy statement that SGX filed on July 21, 2008.

SGX encourages all stockholders to vote their shares and to contact Georgeson Inc., SGX's proxy solicitation firm, toll tree at 877-278-6774 if they have any questions or need any assistance in voting their shares.

In addition, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 applicable to the proposed merger expired on August 11, 2008.

The completion of the proposed merger continues to be subject to the satisfaction or waiver of a number of closing conditions, including, among others, (1) adoption of the agreement and plan of merger ("Merger Agreement") by the holders of a majority of SGX's outstanding common stock, (2) subject to certain exceptions, the absence of any material adverse effect on SGX from and after the date of the Merger Agreement, (3) the absence of any leg
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SOURCE SGX Pharmaceuticals, Inc.
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