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Sun Pharma Comments on Taro's Potential Sale of Its Irish Operations
Date:6/5/2008

actions contrary to the spirit of the Merger Agreement that strip the company of assets of strategic importance to the company's future operations and that Sun would otherwise have had the opportunity to preserve and subsequently develop had the Merger Agreement not been wrongfully terminated.

Given that Taro knows that Sun views the Irish facilities as having strategic importance, we believe that any plan by Taro's Board of Directors to divest the Irish facilities is part of a concerted effort to discourage Sun from pursuing its rights to acquire Taro. The Irish operations represent significant future business opportunity for Taro, and all shareholders of Taro should question the motivations of members of the Taro Board should they decide to divest the Irish facilities or any other assets of the company in the current circumstances, especially if such dispositions are to buyers with close ties to Taro's senior management. Certainly, Sun, as Taro's potential owner, will scrutinize the transaction process and the terms of any such proposed transaction and will hold directors of Taro liable for any breach of fiduciary or other duties that may arise from such a transaction. These and other facts and omissions by Taro (and its founding shareholders) give rise to substantial claims that Sun intends to pursue, all of which are expressly reserved.

We may publish an advertisement in the Irish press notifying any potential buyers of Taro Ireland or its assets of Sun's intentions should any such sale proceed.

Very truly yours,

SUN PHARMACEUTICAL INDUSTRIES, LTD.

By:____________________________

Name: Dilip S. Shanghvi

Title: CHAIRMAN & MANAGING DIRECTOR

About Sun Pharmaceutical Industries Ltd.

Established in 1983, listed since 1994 and headquartered in India, Sun Phar
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SOURCE Sun Pharmaceutical Industries Ltd.
Copyright©2008 PR Newswire.
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