PRESS RELEASE

AstraZeneca and Nicholas Piramal announce Development and Know-how Agreement

Mumbai, 26 October 2005: AstraZeneca AB, Sweden and Nicholas Piramal India Limited, India today announced the signing of a Development and Know-how Agreement. Under this agreement, the Companies will establish a framework for future collaboration for development of processes for the manufacture of intermediates, active ingredients or bulk drugs for supply to AstraZeneca. The Development and Know-how Agreement does not have a fixed tenure. It is envisaged to continue and last so long as the Parties have products under-development. If the collaboration on any of the products’ development is successful, the Agreement provides for the Parties to further negotiate terms of an agreement for supply of the product by NPIL to AstraZeneca.

For clarifications contact:

Vijay Sathye
Vice President - Investor Relations and M&A
Nicholas Piramal India Limited,
Nicholas Piramal Tower,
Ganpatrao Kadam Marg,
Lower Parel, Mumbai - 400 013,
India.
vsathye@nicholaspiramal.co.in
Mobile: +91 9821879774
Phone: +91 22 56637899
Facsmile: +91 22 24936708

* The results in the press release are on Standalone Audited basis. Stand Alone Accounts represent results without considering Joint Venture and Subsidiaries.