2. Gedeon Richter Ltd. Founded: 1901 Privatised: 1994- International locations: 31 Leading position in the region: CIS, EE, Hungary Niche player in the EU and USA Vertically integrated The founder Richter Gedeon

3. Ownership structure on 31 March 2002 ÁPV Rt. (Hungarian Privatisation and State Holding Company) 25.2 % Domestic investors 14.1 % Internationalinvestors 60.7 %

4. Therapeutic areas Gynaecology 22 % Source: Richter Q1 2002 sales - USD 81 m

5. Expanding gynaecological business USD m  Core expertise in steroid chemistry  Full range of women’s healthcare products  FDA / EMEA compliant facilities  Long-term supply agreements in the EU / USA  Continuous expansion in the CIS / Eastern Europe

6. Sales by region (USD m) 15 % 28 % 29 % EU, USA and other markets - Supply contracts - Success of gynaecological products - Expanding generic businessCIS - Strong brand recognition - Increasing share of OC’s - Specialized sales network - Greenfield investments Eastern Europe - Increasing proportion of OC’s - Expanding sales force - New product launches Hungary - Leading market position - Medium-term agreement - Successful new product launches Source: Richter Q1 2002 sales - USD 81 million

7. USA  Competitive advantage in women's healthcare  Steroid API’s: appr. 70 % of US bulk sales - desogestrel - levonorgestrel - other API’s  Generic business - famotidine - lisinopril USD m

8. Richter’s leading partnerships in the USA steroids others steroids others R&D based multinational companies Johnson & Johnson Johnson & Johnson Eli Lilly Eli Lilly Speciality pharmaceutical companies Barr Laboratories / Duramed Barr Laboratories / Duramed Women’s Capital Corporation Women’s Capital Corporation KV Pharmaceuticals KV Pharmaceuticals Generic companies several leading companies several leading companies

9. EU – new opportunities Second largest market after USA – USD 92 billion Quality standards – EMEA compliant facilities Regulatory Affairs – Harmonisation Intellectual Property Rights Issues – Bolar – Roche – Data exclusivity – SPC

10.  Preparing for patent expiries  Increasing generic sales - enalapril - lisinopril - fluoxetine - famotidine  Gynaecology – key drivers of growth - desogestrel - LEVONELLE-2 - LEVONELLE-2  Schering AG  good performance in the UK  additional launches in the EU Western European countries

11. CIS – good opportunities for continuous growth  Sales growth – minimum 10 %  Dollar prices – affordable level  Strong brand recognition  Expanding sales network  Greenfield investments Farmograd – Richter-RUS Farmograd – Richter-RUS Kijevoblfarmacija – Richter-UA Kijevoblfarmacija – Richter-UA USD m

12. Eastern Europe Organic growth: –new product introductions –expanding sales network –specialized sales force teams Selected acquisitions in the region: –Poland –Romania Increasing proportion of gynaecological sales – 28 % USD m Poland

13. Hungary 3-year agreement –price increases –new product launches Exposure to the currency fluctuations –export sales – appr. 70 % in USD –expenses - in HUF forward exchange contracts

14. Sales - double digit growth HUF m USD m Note : 1992 data is pro-forma

15. Operating profit and margin Note : 1992 data is pro-forma % HUF m USD m

16. Profit before and after taxation Note: 1992 data is pro-forma HUF m USD m -2,100 2,400 4,300 7,900 11,300 18,800 17,300 17,800 20,600 26,400 6,000 6,500 -27 26 41 64 76 100 81 75 73 92 21 23 Pre-tax profit

17. Regional multinational company Niche player – therapeutic niche - women’s healthcare – geographic niche - Eastern Europe, CIS Focusing on long-term supply agreement in EU / USA – based on sophisticated chemistry knowledge Building upon strategic alliances – Marketing – R&D Licensing activity – beneficial partner