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1 <p align="center"><b>PLIVA divests a majority stake in its Non-core Yeast and
2 Bread Improvers Operations</b></p>
3 <p>Zagreb, March 1, 2000</p>
4 <p>PLIVA d.d. ('PLIVA') announced that it has signed an agreement to sell its
5 yeast operations carried out through its Croatian subsidiary SAF Kvasac d.o.o.
6 to Cie des Levures Lesaffre, today's world leader in the production of yeast
7 and yeast extracts.</p>
8 <p>The signed Agreement calls for an initial sale of a 75% majority stake in Kvasac
9 d.o.o., controlling the yeast and bread improvers operations in Zagreb. Kvasac
10 is also the sole owner of PLIVA TrebiĀšov a.s., Slovakia. The closing of this
11 first part of the transaction is expected to take place within the following
12 15 days. Subsequently, the sale of the remaining 25% stake will follow upon
13 expiration of the three year period following the signing of the Agreement.</p>
14 <p>The parties have agreed to a basic purchase price of a cash consideration of
15 Euro 12 million for a 100% stake in the company.</p>
16 <p>Zeljko Covic, PLIVA's CEO and President of the Management Board, commented:
17 "At the end of 1999, we spun off PLIVA's food division into two naturally separate
18 companies, Kvasac d.o.o. and Cedevita d.o.o., in order to prepare for the planned
19 divestment in line with our strategy. The sale of PLIVA's non-core yeast operations
20 represents an anticipated move as we have made conscious strides to focus on
21 pharmaceuticals as seen in our acquisitions of PLIVA Krakow, Farmacom, Mixis
22 Genetics and Lachema. By adopting a focused strategy and thus divesting our
23 non-core operations, we will free up resources enabling us to continue to grow,
24 develop and consolidate our position on the global pharmaceuticals market".</p>
25 <p>For additional information please contact:</p>
26 <p>Erika Kaspar<br>
27 Vice President, Communications and Corporate Affairs<br>
28 Tel: 385 1 6120 755<br>
29 Fax: 385 1 6114 413<br>
30 E-mail: <a href="mailto:erika.kaspar@pliva.hr">Erika.Kaspar@pliva.hr</a></p>
31 <p> Marija Mandic <br>
32 Financial Analyst <br>
33 Tel: 385 1 6160 355 <br>
34 Fax: 385 1 6120 634<br>
35 E-mail: <a href="mailto:marija.mandic@pliva.hr">Marija.Mandic@pliva.hr</a> </p>

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