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|October 17, 2005 11:48 a.m.|
|Teva/Ivax Cash and Stock Election Deadline Update|
Jerusalem, Israel and Miami, Florida, October 17, 2005 - Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and IVAX Corporation (AMEX: IVX) announced that the deadline for the submission of elections by IVAX shareholders in connection with Teva's pending acquisition of IVAX will be extended to two business days before the date of the transaction closing, a closing date which has yet to be announced. The companies continue to expect that the transaction will close in late 2005 or early 2006, following completion of the Hart-Scott-Rodino clearance process, the obtaining of the other required antitrust approvals and the satisfaction of all other closing conditions contained in the merger agreement between the parties.