Joint Announcement Regarding the Intended Consensual Termination of the Transaction Implementation Agreement ("TIA") Between

Joint Announcement Regarding the Intended Consensual Termination of the
Transaction Implementation Agreement ("TIA") Between Adcock Ingram and CFR
Pharmaceuticals ("The Parties")

SANTIAGO, Chile, Feb. 7, 2014 (GLOBE NEWSWIRE) -- CFR Pharmaceuticals S.A.
(SSE: CFR), the Chilean multinational emerging markets pharmaceutical company,
leader in specialties and prescription medicines, refers shareholders to the
announcements released on the Stock Exchange News Service ("SENS") of the JSE
Limited by Adcock Ingram Holdings Limited ("Adcock") and by The Bidvest Group
Limited ("Bidvest") on Friday, 31 January 2014, regarding the acquisition by a
consortium comprising Bidvest and Community Investment Holdings (Pty) Limited
of approximately 34.5% of the ordinary issued share capital of Adcock.

In the light of these announcements, shareholders are advised that Adcock and

1) have consulted and are of the common view that there is no prospect that
the special resolutions in terms of the scheme of arrangement proposed between
Adcock and the holders of Adcock ordinary shares in relation to the offer from
CFR ("the Scheme") will be approved by the necessary 75% majority.

2) have entered into a written agreement ("Termination Agreement") providing,
among others,

  a. for the consensual termination of the TIA concluded on 11 September 2013,
  as amended, and accordingly for the termination of the Scheme, which
  termination is subject to, and will take effect upon, receipt of written
  exemption by the Takeover Regulation Panel ("TRP") from the requirement in
  regulation 101(2) of the Companies Regulations, 2011 that CFR must proceed
  with the transactions contemplated in the TIA. The TRP has already been
  approached in this regard;

  b. that until the exemption from the TRP is obtained, neither of the Parties
  shall, subject to certain exceptions, seek to enforce any provisions of the
  TIA, the Scheme or certain related agreements; and

  c. that, upon receipt of the exemption from the TRP, neither of the Parties
  shall have any claim against the other arising out of or in connection with
  the TIA or its termination.

In the circumstances, Adcock shareholders are advised the company does not
intend to reconvene the Combined General Meeting and the Ordinary General
Meeting to consider the resolutions to approve the Scheme, each of which was
adjourned in December 2013.

CFR Chief Executive Officer Alejandro Weinstein said: "The profit warning
issued by Adcock confirms the impact of the devaluation of the South African
rand in the costs of the company, in the context of the effects the South
African economy is suffering, making the proposed transaction more expensive
for CFR and out of limits for the price and multiples that we had considered.
We believe both companies will be able to explore other means to realize the
significant synergies we have identified, directly benefiting all

"As a disciplined buyer with strategic focus, CFR will not pursue a deal when
the acquisition conditions become out of range. The pharmaceutical industry in
emerging markets is full of opportunities and will continue to grow at
double-digit rates, and we are already focused on evaluating new companies
that provide synergies and growth for our shareholders," Weinstein concluded.

About CFR

CFR is a multinational pharmaceutical corporation with a leading position in
Latin America and operations in 15 countries in that region. It is the leading
pharmaceutical company in Chile, Colombia and Peru, and also has presence in
Vietnam, Canada and the United Kingdom, focusing on the research, development,
production and sale of branded specialty pharmaceutical products, complex
Injectables, and OTC products. CFR has its origins in 1922 and it was listed
on the Santiago Stock Exchange in 2011 on a successful IPO –more than ten
times oversubscribed– becoming the only publicly traded pan-Latin American
pharmaceutical company. CFR has a market capitalization of US$2 billion,
employs over 7,000 people including 2,000 sales representatives. CFR's growth
strategy focuses on markets in the Americas, Europe and Asia with expansion
plans into emerging markets with high growth potential.


The Scheme is governed by the laws of South Africa. Each of CFR and Adcock
Ingram has consented to the non-exclusive jurisdiction of the South Gauteng
High Court, Johannesburg.

None of this press release, the Circular, the Supplementary Circular, the
Prospectus or the Joint Cautionary Announcement, are intended to, and do not,
constitute, or form part of, an offer to sell or an invitation to purchase or
subscribe for any securities or a solicitation of any vote or approval in any
jurisdiction. None of this press release, the Circular, the Supplementary
Circular, the Prospectus or the Joint Cautionary Announcement, constitutes a
prospectus or a prospectus equivalent document. Investors are advised to read
carefully the Circular and the Supplementary Circular for the full terms and
conditions of the Scheme. Any decision to accept the Scheme or other response
to the proposals should be made only on the basis of the information contained
in the Circular and the Supplementary Circular.

This press release is made in connection of, an offer for the securities of a
South African company by means of the Scheme. The offer is subject to
disclosure requirements under South African law that are different from those
of the United States and Chile. Financial statements included in the Scheme or
the Prospectus have been prepared in accordance with South African accounting
standards that may not be comparable to the financial statements of United
States or Chilean companies.

It may be difficult for you to enforce your rights and any claim you may have
arising under the United States federal securities laws, since Adcock Ingram
is located in South Africa, and all of its officers and directors reside
outside of the United States. You may not be able to sue Adcock Ingram or its
officers or directors in a foreign court, including South African courts, for
violations of the Unites States securities laws. It may be difficult to compel
Adcock Ingram and its affiliates to subject themselves to a United States
court's judgment.

You should be aware that CFR may purchaseordinary shares of Adcock Ingram
otherwise than under the offer, such as in open market or privately negotiated


This press release, the Circular, the Prospectus and the Announcement include
forward-looking statements with respect to the financial condition, results of
operations and businesses of CFR and Adcock Ingram and certain plans and
objectives of the boards of CFR and Adcock Ingram with respect to them. These
forward-looking statements can be identified by the fact that they do not
relate only to historical or current facts. Forward-looking statements often
use words such as "anticipate," "expect," "estimate," "intend," "plan,"
"goal," "believe," "will," "may," "should," "would," "could," or other words
of similar meaning. These statements are based on assumptions and assessments
made by the boards of CFR and Adcock Ingram in light of their experience and
their perception of historical trends, current conditions, expected future
developments and other factors they believe appropriate. By their nature,
forward-looking statements involve risk and uncertainty, because they relate
to events and depend on circumstances that will occur in the future and the
factors described in the context of such forward-looking statements in this
announcement could cause actual results and developments to differ materially
from those expressed in or implied by such forward-looking statements.These
risks and uncertainties include, among others, the risk that the Scheme is not
completed, including the risk that required shareholder and regulatory
approvals for the Scheme may not be obtained; diversion of management's
attention away from other business concerns; the risks associated with the
development, generally, of the combined company's overall strategic
objectives; the ability of the combined company to build additional value in
its business; the existence of unanticipated technical, commercial or other
setbacks related to the combined company's products and services; and the
other risks set forth in the Prospectus. The combined company may not
successfully integrate the operations of CFR and Adcock Ingram in a timely
manner, or at all, and the combined company may not realize the anticipated
benefits or synergies of the Scheme.

Not for release, publication or distribution, in whole or in part, in or into
or from any jurisdiction, where to do so would constitute a violation of the
relevant laws of such jurisdiction.

CONTACT: Enquiries
         Deneb Schiele
         Head of Investor Relations
         Phone +562 2350 5320
         Media contact
         Amelia Soares
         Instinctif Partners
         Phone: +27 11 447 3030

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