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Aspreva to be Acquired by Galenica For US$915 Million
Date:10/17/2007

ish Columbia Business Corporations Act, and must be approved by the applicable court and by 66 2/3 per cent of the votes cast by holders of Aspreva shares. The completion of the transaction is also subject to customary closing conditions, including regulatory approvals. The transaction is expected to close on January 3rd, 2008, shortly after receipt of shareholder and court approvals.

Details regarding these and other terms of the transaction are set out in the Combination Agreement, which will be filed by Aspreva on the Canadian SEDAR website at http://www.sedar.com and on the U.S. Securities and Exchange Commission's website at http://www.sec.gov. Further information regarding the transaction will be contained in a proxy circular that Aspreva will mail to holders of common shares in connection with the special meeting of shareholders to be held to approve the transaction. It is expected that these materials will be mailed in November 2007 for a meeting to be held in December 2007. Once mailed, the proxy circular will be available at http://www.sedar.com and http://www.sec.gov. All shareholders are urged to read the proxy circular once it is available.

Shareholder Support Agreements

Aspreva's directors and officers, as well as Aspreva's largest shareholder, who collectively hold approximately 30 per cent of the outstanding common shares of Aspreva, have entered into agreements with Galenica to vote their shares in favor of the transaction, subject to their ability to withdraw such support in the event that the Combination Agreement is terminated, including where an unsolicited superior competing proposal is made by another bidder and accepted by Aspreva.

Financial and Legal Advisors

Lazard and Lehman Brothers Inc. are acting as financial advisors
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SOURCE Aspreva Pharmaceuticals
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