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Barr's PLIVA Subsidiary to Terminate GDR Deposit Agreement and Delist From London Stock Exchange
Date:3/18/2008

MONTVALE, N.J., March 18 /PRNewswire-FirstCall/ -- Barr Pharmaceuticals, Inc. (NYSE: BRL), today confirmed that its subsidiary, PLIVA d.d. (LSE: PLVD), sent Notice to Deutsche Bank, acting as PLIVA's GDR Depositary, on termination of PLIVA's GDR Deposit Agreement (the "Deposit Agreement") effective June 19, 2008 ("Termination Date"). Once the Deposit Agreement has been terminated, PLIVA will seek to delist from the London Stock Exchange ("LSE"), a process that it anticipates will conclude on or before July 21, 2008. Until the Termination Date, holders of GDRs can either obtain ordinary shares relative to each GDR they currently hold, or sell the GDRs in the open market. The ordinary shares of PLIVA d.d. will continue to be listed on the Zagreb Stock Exchange.

"Given the relative lack of liquidity in PLIVA GDRs on the London Stock Exchange, due to Barr's ownership of approximately 98% of PLIVA shares, we believe that delisting PLIVA from the LSE is appropriate at this time," said Bruce L. Downey Barr's Chairman and CEO.

In addition, Downey confirmed that Barr does not anticipate initiating a squeeze-out of remaining PLIVA shares: "Due to the commitment of resources required to complete the squeeze out, we believe we can better invest management time and corporate resources in completing the integration of PLIVA's operations into Barr and focusing on business growth in key world markets."

On October 24, 2006, Barr finalized the legal and regulatory requirements to acquire PLIVA.

About Barr Pharmaceuticals, Inc.

Barr Pharmaceuticals, Inc. is a global specialty pharmaceutical company that operates in more than 30 countries worldwide and is engaged in the development, manufacture and marketing of generic and p
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SOURCE Barr Pharmaceuticals, Inc.
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