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Dr. Reddy's Declares Offer For OctoPlus Unconditional

With reference to the joint press releases of Dr. Reddy’s (NYSE: RDY) and OctoPlus (NYSE Euronext Amsterdam: OCTO), issued on 22 October 2012 and 13 December 2012 respectively, the Offeror and OctoPlus hereby jointly announce that the Offeror declares the Offer unconditional.

Results Offer Period

During the Offer Period, which ended at 18.00 hours CET on 8 February 2013 (the “Closing Date”), 37,233,244 Shares, representing 70.7% of the Shares and a value of EUR 19,361,286.88, have been tendered for acceptance under the Offer. 1

1 The Company does not hold any Shares in treasury.

As a result the Offeror’s shareholding is composed as follows:
        Number of Shares       Percentage of Shares
Shares tendered under the Offer 37,233,244 70.7%
Shares acquired by the Offeror during the Offer Period 11,575,394 22.0%
Total Shares tendered and acquired 48,808,638 92.7%

The 11,575,394 Shares held by the Offeror at 18.00 hours CET on the Closing Date, together with the Shares tendered under the Offer, represent a total of 92.7% of the Shares. This percentage exceeds the acceptance threshold of 92.5% of OctoPlus’ aggregate issued and outstanding share capital on a fully diluted basis that was included in the Offer Conditions as described in the Section 6.7.1 (i) of the Offer Memorandum. As all Offer Conditions have been satisfied, the Offeror hereby declares the Offer unconditional.

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