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The Concerned Shareholders of Biovail Say Biovail Has Misled Shareholders
Date:5/15/2009

ould vote using only the YELLOW form of proxy accompanying the proxy circular and disregard any other form of proxy.

YELLOW proxies must be received by Laurel Hill Advisory Group by no later than 2:00 p.m. (Toronto time) on May 25, 2009 in order to be voted at the meeting. Even if you have voted the management proxy and wish to change your vote, simply vote again using the YELLOW proxy, a later dated proxy will automatically revoke the previously submitted proxy.

Certain statements contained in this release constitute forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Concerned Shareholders, the Nominees, the Company or its current or future management, are intended to identify forward-looking statements. Such statements reflect the Concerned Shareholders' or the Nominees' current views with respect to future events and are subject to certain risks, uncertainties and assumptions. The Concerned Shareholders and the Nominees assume no responsibility for any such statements. Many factors could cause the company's actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include, but are not limited to, economic, business, technological, competitive and regulatory factors. All such factors should be considered carefully when making decisions with respect to Biovail, and undue reliance should not be placed on the Concerned Shareholders' or the Nominees' forward-looking statements. The Concerned Shareholders and the Nominees do not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on their behalf, except as required under applicable securities legislation.


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SOURCE Concerned Shareholders of Biovail
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