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|October 15, 2007 2:09 p.m.|
|Teva Calls 0.375% Remaining Convertible Debentures Due 2022 For Redemption|
Jerusalem, Israel, October 15, 2007 - Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) announced today that its finance subsidiary Teva Pharmaceutical Finance B.V. has called for redemption, on November 19, 2007 all of its outstanding 0.375% convertible senior debentures due 2022 (CUSIP Nos. 88164M AA 6, 88164M AB 4 and N85093 AA 5). Of the $450 million principal amount initially issued, the aggregate principal amount of the debentures outstanding as of September 30, 2007 was approximately $36 million.