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|November 13, 2002 4:25 p.m.|
|Teva Announces Pricing of $375 Million Convertible Debenture Offering|
Jerusalem, Israel, November 13, 2002 - Teva Pharmaceutical Industries Limited (Nasdaq: TEVA) announced today that Teva Pharmaceutical Finance B.V. ("Teva Finance"), a special purpose finance subsidiary, priced its offering of $375 million in aggregate principal amount of 0.375% Convertible Senior Debentures due 2022, guaranteed by Teva. The debentures will be convertible into American Depositary Receipts of Teva at the conversion price of U.S. $85.7978 per ADR (reflecting a premium of 18%, relative to the Nasdaq closing price for Teva's ADRs of U.S. $72.71 on November 12, 2002).