Mylan - not buying remaining stake in Matrix

With reference to the news item appearing in a leading Web Portal titled "Mylan may come out with a delisting offer for Matrix; Looking at buying the residual stake", Matrix Laboratories Ltd has clarifies that as on date hereof, Mylan Laboratories Inc., USA is neither contemplating to buy residual stake nor delist the securities of the Company from the Stock Exchanges. Hence, the news item of Web Portal is incorrect and baseless. The Company further confirms that it shall continue to abide by the terms and conditions of the listing agreement.