Mylan Laboratories increases stake in Matrix Laboratories to 71.36%

DSP Merrill Lynch Ltd ("Manager to the Offer") on behalf of MP Laboratories (Mauritius) Ltd ("Acquirer") & Mylan Laboratories Inc (Person Acting in Concert ("PAC")) has issued this Post Open Offer Public Announcement to the shareholders of Matrix Laboratories Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the Public Announcement ("PA") dated August 29, 2006, pursuant to Regulation 10 & 12 and in compliance with the Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers), Regulations, 1997 and subsequent amendments thereto (the "SEBI SAST Regulations").

The acquirer along with the PAC to acquire up to 30,836,662 equity shares of face value of Rs 2/- each, representing 20.00% of the fully diluted equity capital of the Target Company at a price of Rs 306 per fully paid-up equity share and Rs 294 per partly paid-up equity shares are as under:

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Item				Proposed in the 		Actual				
				Offer Document
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1. Offer Price			Fully paid-up Rs 306	Fully paid-up Rs 306	
				Partly paid-up Rs 294	Partly paid-up Rs 294

2. Shares acquired in the	30,836,662 (20.00%) 	30,836,662 (20.00%)   
open offer (No & %)

3. Post offer Shareholding	110,024,634 (71.36%) 	110,024,634 (71.36%)   
of Acquirers / PACs (No & %)
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Source : Equity Bulls

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