Matrix Laboratories Updates on open offer

DSP Merrill Lynch Ltd ("Manager to the Offer") on behalf of MP Laboratories (Mauritius) Ltd ("Acquirer") & Mylan Laboratories Inc (Person Acting in Concert (PAC)) has issued this Public Announcement ("PA") to the shareholders of the Matrix Laboratories Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Original Public Announcement ("PA") dated August 29, 2006 , pursuant to Regulation to and in compliance with the Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers), Regulation, 1997 the ("SEBI Takeover Regulations" )

The shareholders of Target Company are requested to kindly note the following:

Pursuant to Regulation 18(1) of the SEBI Takeover Regulations, the draft letter of Offer has been submitted to SEBI and is currently under review. Hence, after SEBI has completed its review of the draft letter of Offer, the earlier announced Schedule of Activity will be modified accordingly and the Acquirer and PAC will announce separately a revised Schedule of Activity.

All other terms and conditions of the Offer remain unchanged.

Source : Equity Bulls

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