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|November 18, 2002 4:26 p.m.|
|Teva Announces Closing of $450 Million Convertible Debenture Offering|
Jerusalem, Israel, November 18, 2002 - Teva Pharmaceutical Industries Limited (Nasdaq:TEVA) is pleased to announce that the initial purchasers of its previously announced convertible debenture offering exercised their option to purchase an additional $75 million of debentures. The offering, which now consists of $450 million in aggregate principal amount of 0.375% Convertible Senior Debentures due 2022 issued by Teva Pharmaceutical Finance B.V., a special purpose finance subsidiary, and guaranteed by Teva, closed earlier today. Lehman Brothers Inc. acted as sole book-running manager for the offering, and Salomon Smith Barney Inc. acted as co-manager.