Warner Chilcott Announces Settlement of Securities ...( ST. DAVID'S Bermuda April 29 /- W...),Health

ST. DAVID'S, Bermuda, April 29 /PRNewswire-FirstCall/ -- Warner Chilcott Limited (Nasdaq: WCRX) today announced that it has reached an agreement in principle to settle a securities class action lawsuit pending in the United States District Court for the Southern District of New York. The suit asserted claims under the Securities Act of 1933 on behalf of a class consisting of all those who were allegedly damaged as a result of acquiring the Company's common stock in connection with its initial public offering in September 2006.

The terms of the settlement, which are subject to negotiation of definitive documentation and must be approved by the court, include a cash payment of $16.5 million, expected to be made in the second or third quarter of 2008. The majority of the settlement will be funded by insurance proceeds and it will not have a material financial impact on the Company.

The settlement will resolve all claims asserted against Warner Chilcott and the other defendants in this case. The settlement will not contain any admission of wrongdoing by the Company or any of the other defendants. Although Warner Chilcott believes this suit is without merit, the Company is pleased to put the uncertainty of the class action litigation behind it and believes that the decision to settle is in the best interest of its shareholders.

The Company

Warner Chilcott is a leading specialty pharmaceutical company currently focused on the women's healthcare and dermatology segments of the U.S. pharmaceuticals market. The Company is a fully integrated company with internal resources dedicated to the development, manufacturing and promotion of its products. WCRX-G

Forward Looking Statements

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