SOURCE: EastPharma Ltd

January 16, 2008 06:47 ET

EASTPHARMA LTD. -- Exercise of Call Option

LONDON, UK--(Marketwire - January 16, 2008) -


London, 16 January 2008

Title: Exercise of Call Option

EastPharma announces the successful exercise of the call option agreement by EastPharma S.a.r.l. with Karadeniz Yatcilik.

On 15 January 2008, EastPharma S.a.r.l, which is a 100% owned subsidiary of EastPharma Ltd, exercised the option agreement for 2,458,951 Deva Class C shares. As declared in the IPO prospectus, EastPharma S.a.r.l entered into a call option agreement on 19 June 2007 with Karadeniz Yatcilik Turizm A.S. (''Karadeniz''), a shareholder in Deva Holding A.S. ("Deva") and was granted a call option for 2,458,951 Deva Class C shares with an exercise price of TRY 19.14 per share, resulting in a total consideration of TRY 47,064,322. Following this transaction, EastPharma's control over Deva Class C shares has increased to 94.20% and the free float of Deva on the ISE (Istanbul Stock Exchange) has decreased to 5.80% .

For further information, please contact:
EastPharma Limited
Idil Bora - Investor Relations
Tel.: + 90 (212) 6929326


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