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|February 24, 2006 1:32 p.m.|
|Teva Announces Exercise of Over-Allotment Option for Convertible Debentures|
Jerusalem, Israel, February 24, 2006 - Teva Pharmaceutical Industries Limited (Nasdaq: TEVA) announced today that the underwriters of the recently completed public offerings of convertible debentures of Teva Pharmaceutical Finance Company B.V. ("Teva B.V.") and Teva Pharmaceutical Finance Company, LLC ("Teva LLC"), two special purpose finance subsidiaries, have exercised their option to purchase an additional $67.5 million aggregate principal amount of Teva B.V.'s 1.75% Convertible Senior Debentures due 2026 (for a total of $817.5 million) and an additional $75 million aggregate principal amount of Teva LLC's 0.25% Convertible Senior Debentures due 2026 (for a total of $575 million). Accordingly, a total of approximately $2.9 billion in debt securities, including $1.5 billion aggregate principal amount of senior notes, will have been issued. The debentures will be guaranteed by Teva. The closing of the over-allotment option is scheduled for March 1, 2006.