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Mylan Announces Successful Matrix Delisting Offer
Date:5/31/2009

PITTSBURGH, June 1 /PRNewswire-FirstCall/ -- Mylan Inc. (Nasdaq: MYL) today announced that its wholly-owned subsidiary, MP Laboratories (Mauritius) Ltd, has completed its delisting offer for the publicly held shares of Matrix Laboratories Limited, the world's third largest active pharmaceutical ingredient manufacturer in which Mylan acquired a controlling interest in 2007.

Mylan has accepted the discovered price of 211 rupees per share, which was established by the reverse book building process prescribed by Indian regulations. Because a substantial number of shares were tendered at or below the discovered price, Matrix's public shareholding will fall below 8%, and, consequently, the company can be delisted from the Indian stock exchanges.

Mylan Chairman and CEO Robert J. Coury stated: "I am very pleased with this positive development in the Matrix delisting process. Not only is the transaction immediately accretive to Mylan, it enhances the ease of operations between the companies and increases operational efficiencies."

Mylan will initiate steps to delist Matrix from the Indian stock exchanges, after which Matrix will become a privately-held subsidiary.

Minority shareholders who did not tender their shares in the delisting offer will have an opportunity to tender at the discovered price within a 15 day period after final settlement of the shares tendered in the reverse book building process as well as during a six month period following the delisting.

This press release contains statements that constitute "forward-looking statements," including with regard to the delisting, the anticipated impact of the transaction on earnings and the company's expectations for the future. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Re
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SOURCE Mylan Inc.
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