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VIVUS, First Manhattan And Sarissa Capital Announce Settlement Agreement

In order to allow additional time for stockholders to vote on the revised slate of director nominees, VIVUS's scheduled Annual Meeting was convened today solely for the purpose of adjourning the meeting to a date to be announced, but not to exceed 30 calendar days from July 15, 2013, to be held at the Company's corporate headquarters at 351 E. Evelyn Avenue, Mountain View, California 94041. The record date for stockholders entitled to vote at the annual meeting remains May 31, 2013. VIVUS will prepare and mail to stockholders a proxy statement supplement in connection with the agreement with FMC. The new Board and FMC will each recommend that the Company's stockholders vote their shares in favor of the election of each of the members of the new Board.

FMC will withdraw its notice of nomination of persons for election as directors and will vote its shares at the Annual Meeting for all 11 nominees on the reconstituted Board slate.

The complete agreement between VIVUS and FMC will be included as an exhibit to VIVUS's current report on Form 8-K, which will be filed with the Securities and Exchange Commission.

If VIVUS stockholders have questions about how to vote their shares, or need additional assistance, please contact MacKenzie Partners, Inc., who is assisting FMC in the solicitation of proxies, at (212) 929-5500 or Toll-Free (800) 322-2885, or Morrow & Co., LLC , who is assisting the Company, at (800) 607-0088 or Toll Free (203) 658-9400.

About First Manhattan Co.

First Manhattan Co. ("FMC") was founded in 1964 and remains an owner-operated investment advisory firm. FMC is registered with the U.S. Securities and Exchange Commission (the "SEC") as an investment adviser and as a broker-dealer, and is a member of the Financial Industry Regulatory Authority (FINRA).

About VIVUS

VIVUS is a biopharmaceutical company commercializing and developing innovative, next-generation therapies to address unmet needs in obesity, sleep apnea, diabetes and sexual health. For more information about the company, please visit  www.vivus.com .

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate," "expect," "intend," "likely," "may," "plan," "potential," "predict," "opportunity" and "should," among others. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. VIVUS does not undertake an obligation to update or revise any forward-looking statements. Investors should read the risk factors set forth in VIVUS's Form 10-K for the year ending December 31, 2012, as amended by the Form 10-K/A filed on April 30, 2013 and by the Form 10-K/A filed on June 12, 2013, and periodic reports filed with the SEC.

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