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|October 03, 2003 4:46 p.m.|
|Teva Confirms That It Is In Preliminary Acquisition Discussions With Savient Pharmaceuticals, Inc.|
Jerusalem, Israel, October 3, 2003 - Teva Pharmaceutical Industries Limited (NASDAQ: TEVA) confirmed today that it is in discussions concerning the possible acquisition for cash of Savient Pharmaceuticals, Inc. (NASDAQ:SVNT). The discussions are at a preliminary stage, and any transaction is subject to completion of satisfactory due diligence, negotiation and completion of definitive documentation and other customary conditions. There can be no assurance that Teva will reach agreement with Savient or that a transaction will be completed.