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|August 15, 2001 11:37 a.m.|
|Teva Announces Pricing Of $300 Million Convertible Debenture Offering|
Jerusalem, Israel, August 15, 2001 - Teva Pharmaceutical Industries Limited (Nasdaq: TEVA) announced today that Teva Pharmaceutical Finance N.V. ("Teva Finance"), a special purpose finance subsidiary, priced its offering of $300 million in aggregate principal amount of 0.75% Convertible Senior Debentures due 2021. The debentures will be convertible into American Depositary Receipts of Teva at the conversion price of U.S. $ 85.824 per ADR (reflecting a premium of 28%, relative to the Nasdaq closing price for Teva's ADRs of U.S. $ 67.05 on August 14, 2001).