The Five Common Stereotypes When It Comes To Mediplus Insurance

BUCHAREST, Romania--(BUSINESS WIRE)--

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A&D PHARMA HOLDINGS N.V.

INTERIM REVIEWED CONDENSED CONSOLIDATED FINANCIAL RESULTS FOR THE 6 MONTHS ENDED 30 JUNE 2007

35% year-on-year access in Accumulation net profit35% year-on-year circumscribed sales growth33% year-on-year sales advance for Mediplus35% year-on-year sales advance for Sensiblu

A&D Pharma Holdings N.V. (the “Group” or “A&D Pharma”), the Dutch captivation aggregation that owns the bigger chip biologic wholesale, business account and retail business in Romania, today appear its acting advised abridged circumscribed cyberbanking after-effects for the six months concluded 30 June 2007.

FINANCIAL HIGHLIGHTS

* Unconsolidated bounded sales abstracts accommodate inter-company sales of €27.2 actor from Mediplus to Sensiblu

OPERATING HIGHLIGHTS

Mediplus

Sensiblu

Romanian Market

FULL YEAR 2007 OUTLOOK

positive EBITDA accepted for the abounding year

expected to abide advance with 8-10% access in cardinal of stores

Dragos Dinu, CEO of A&D Pharma, commented: “The aboriginal bisected year achievement demonstrates the able basal drive in our businesses, and was in band with our expectations for the period. Particularly auspicious is the 35% access in accumulation net profit, as able-bodied as the complete EBITDA aftereffect of Sensiblu, our retail arm.

“We abide to abound faster than the accepted biologic market, and apprehend to advance this outperformance as we advance our complete businesses and attending to aggrandize organically and via acquisitions in both Romania and its neighbouring countries. Such amplification will added accession our capacity, whilst added infrastructure, such as our new civic acumen centre, will accredit us to calibration our operations and access operating ability levels.

“The advancing healthcare arrangement reforms will drive added advance in the Romanian bazaar and our chip business is well-positioned to account from these developments. We accordingly accept a complete and assured angle affective advanced and apprehend to see connected able advance in the additional bisected of the year culminating in abounding year advantage for Sensiblu as able-bodied as for Mediplus.”

FINANCIAL SUMMARY

*please see ‘Consolidated assets statement’ for added details

OPERATING REVIEW

Overview

A&D Pharma added circumscribed its position as the arch biologic wholesale, business account and retail business in Romania during the aboriginal bisected of 2007. Mediplus, the Group’s broad and business casework division, added adequate its bazaar administration position and invested in the development of its infrastructure. Sensiblu, the Group’s retail division, added added the cardinal of diplomacy and boilerplate amount per transaction as able-bodied as broadcast its arrangement throughout Romania to added advance its able-bodied recognised brand. By continuing to angular accommodate its broad and retail operations, and by continuing to innovate and accompany affection articles to the market, A&D Pharma is well-positioned to capitalise on the added advancing advance in the biologic markets in Romania and neighbouring countries.

The Romanian biologic market

Romania’s GDP advance of 5.8% year-on-year for the aboriginal bisected of 2007 (source: Civic Institute for Statistics) and over 4% of GDP allocated to bloom breadth this year as able-bodied as the 15% account access in the funds fabricated accessible to the NHIH (National Bloom Allowance House), accord a bright adumbration that the Romanian biologic bazaar still has ample advance potential. Added key advance drivers are the ageing population, ascent levels of disposable income, accretion bloom awareness, and a added favourable authoritative altitude afterward new developments and EU accession.

The biologic bazaar in Romania grew by 26% year-on-year to €915.3 actor in EUR broad prices (source: Cegedim) in the aboriginal six months of the year. A&D Pharma added circumscribed its market-leading position by breeding year-on-year circumscribed net sales advance of 35%.

Regulatory update

A cardinal of authoritative changes were alien in Romania during the aboriginal bisected of the year. In April, the administration of insulin, oncology articulate drugs and post-transplant medicines was transferred from hospitals to retail pharmacies.

The claim to accede with GDP (Good Administration Practice) has been adjourned for a year until July 2008 by the Government.

Another development is the accession of chargeless bloom checks for all Romanian citizens, whether insured by the Civic House of Bloom Allowance or not, in July 2007. Chargeless bloom checks were ahead belted to citizens who were insured. Every Romanian aborigine will now be able, to accept a chargeless anniversary bloom check, which will not alone accord to adopting medical and bloom awareness, but additionally aftereffect in college biologic burning and healthcare spending.

In June and July 2007, the Ministry of Bloom issued abstract regulations apropos the alteration of advertence prices and mark-ups of price-regulated medicines, and a alive accumulation of assembly from the Bloom authorities, biologic manufacturers, wholesalers and retailers, was appointed to altercate the adjustment of these medicines. The discussions accept been connected and new legislation is accepted to be agreed aloft and implemented afore the end of the year.

Wholesale and Business Services: Mediplus

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Mediplus, the Group’s broad and business casework division, connected to accomplish acerb during the aboriginal bisected of 2007. Mediplus’s bazaar allotment of biologic sales to pharmacies in Romania added from 19.7% over January-June 2006 to 20.2% over January-June 2007 (source: Cegedim), in animosity of the acting business abeyance in February acquired by the allotment of the new civic acumen centre. Mediplus’s final account bazaar allotment for June 2007 stood at 20.5% compared to 19.9% in the aforementioned ages of aftermost year (source: Cegedim).

Mediplus’s allotment of the complete biologic broad bazaar in Romania, which includes sales to hospitals, accomplished 17.7% over January-June 2007, compared to 16.5% for the agnate aeon in 2006 (source: Cegedim). Mediplus’s final account bazaar allotment of the complete biologic broad bazaar in June 2007, accomplished 18.6%, compared to 16.7% in June 2006 (source: Cegedim).

The access in bazaar allotment can be attributed to the achievement of the sales and business team, the development of Mediplus’s artefact portfolio and amount added casework offered to suppliers and pharmacies as able-bodied as extensions and improvements fabricated to the division’s logistical infrastructure. The closing resulted in added accumulator capacity, afterward the allotment of the new civic acumen centre in Mogosoaia, as able-bodied as new bounded warehouses in Iasi and Craiova during the aboriginal bisected of 2007. Mediplus invested €0.9 actor to assemble the new barn in Craiova which has a complete - 1,455 m2 and serves 244 pharmacies in bristles counties. The Iasi barn spans over a complete breadth of 1,206 m2 and serves pharmacies in four counties in the Moldova region.

As of 30 June 2007, Mediplus’s warehousing accommodation totalled 28,000 m2 in 12 warehouses, from area it broadcast a portfolio of over 5,000 articles to over 3,500 pharmacies throughout Romania, apery added than 70% of the complete cardinal of pharmacies in the country. Sales to pharmacies represented over 97% of Mediplus’s turnover, while the absolute 2.8% of broad sales broadcast articles to over 300 hospitals.

Looking accurately at sales by artefact category, 65% of sales in the aboriginal bisected of 2007 were from decree medicines, 31% from OTC articles and 4% from dermo-cosmetics, cosmetics and para-pharmaceuticals. Inter-company sales to Sensiblu represented 16% of net broad sales in the period.

In adjustment to added advance operational ability through optimising synergies amid the broad and retail businesses, Mediplus has assassin a absolute acclaimed alien adviser to abetment with the accomplishing of a company-wide ERP (Enterprise Resource Planning) arrangement during the additional bisected of 2007. This assignment is on-going and is accepted to abide into 2008.

The Accumulation continues to accept ambitions to aggrandize into neighbouring countries such as: Ukraine; Bulgaria; Slovenia; Macedonia; Croatia, Serbia & Montenegro, application the company’s ability and acquaintance in architecture up and accretion a angular chip wholesale-retail business. Currently we are complex in bazaar assay and establishing another bazaar access strategies. Elantis Farm SRL, accustomed as a broad collective adventure in Moldova, charcoal to date the Group’s alone adopted venture.

Recent Mediplus Developments

As the bright bazaar baton in the Romanian biologic broad breadth alms a advanced ambit of amount added casework to its suppliers, Mediplus is a absolute adorable accomplice for ample producers. In August 2007, Mediplus was called by the arch bunch cast Colgate-Palmolive to administer its articulate affliction and cosmetics portfolio in the Romanian market. The cardinal acceding covers the administration of Colgate-Palmolive articles by Mediplus to Sensiblu and third-party pharmacies beyond Romania. The artefact ambit broadcast by Mediplus is accepted to aggrandize as new Colgate-Palmolive articles are alien in Romania in the future.

Retail: Sensiblu

The Pharmacy alternation Sensiblu, which is the bigger of its affectionate in Romania, circumscribed its bazaar position during the aboriginal bisected of 2007 by accretion the complete cardinal of diplomacy by 14% year-on-year to 6.5 million, 52% of which were agitated out with adherence agenda holders. The boilerplate transaction amount added added by 25% year-on-year to €8.6 for the aboriginal bisected of 2007 due to the aerial advance in boilerplate agenda transaction value. The boilerplate transaction amount per adherence agenda added by 36% to €10.5 during the aboriginal bisected of 2007 (€7.8 during the aboriginal bisected of 2006), compared to an boilerplate amount per non-card transaction of €6.8 (€5.9 during the aboriginal bisected of 2006).

During the aboriginal bisected of 2007, Sensiblu added a added eight new outlets. These outlets are amid in hypermarkets run by a Sensiblu cardinal partner. In addition, seven complete pharmacy outlets accept been relocated to college cartage areas during the period, and three accepted pharmacies were bankrupt during the aboriginal six months of the year. The arrangement now comprises a complete of 213 outlets in 51 Romanian towns and cities.

Sensiblu operates four types of pharmacy: Accepted pharmacies (189 branches breeding 85% of revenues); Prestige pharmacies (18 branches breeding 14% of revenues calm with two L’Occitane shops); analytic pharmacies (three branches breeding 1% of revenues); and one rural pharmacy.

Sensiblu’s avant-garde pharmacy accoutrement agency that its added than one actor account barter are able to accept from a advanced ambit of products. Added than 25,000 articles were offered beneath six altered categories by the end of the analysed period: decree drugs (55.4% of Sensiblu sales, compared to 55.2% in June 2006); self-medication (23.8% of Sensiblu sales, compared to 24% in June 2006); accumulation bazaar cosmetics (8.7% of sales, compared to 7.9% in June 2006); babyish articles (6.2% of sales, compared to 7% in June 2006); dermo-cosmetics (5.6% of sales, compared to 5.5% in June 2006) and casework (0.3% of sales, compared to 0.4% in June 2006).

Recent Sensiblu Developments

In July, Lauren Finance, the aboriginal non-banking cyberbanking academy in the Romanian biologic sector, and a accessory of A&D Pharma Holdings SRL, launched Respiro, the aboriginal defalcation agenda to be acclimated for purchases of medicines and healthcare articles in pharmacies. This arrangement was initially launched for Sensiblu’s barter beyond the country and it is accepted that the agenda will additionally be connected to third-party pharmacies in the future. The accession of this agenda is accepted to added accession retail revenues.

During July and August 2007, Sensiblu opened three new pharmacies, of which two are amid in hypermarkets and one is a hospital in-patient pharmacy. One added abundance was relocated to a business centre, one new L’Occitane boutique was opened and one annex was closed. As at August 2007, Sensiblu had 216 outlets throughout Romania.

FINANCIAL REVIEW

Sales

A&D Pharma connected to beat accepted bazaar advance for the aboriginal bisected of 2007 and acquirement advance remained in band with administration expectations. Circumscribed sales for the six months catastrophe 30 June 2007 were €199.1 million, an access of €51.2 actor or 35% from €147.9 actor for the six months catastrophe 30 June 2006. The advance in sales can be attributed to the basal advance in the biologic bazaar in Romania, which grew by 26% during the bisected year to June 2007, in EUR benefactor prices, and the Group’s bigger achievement adjoin its peers.

Mediplus’s sales for the six months catastrophe 30 June 2007 were €170.1 million, a year-on-year access of €42.5 actor or 33% from €127.6 actor during the aboriginal bisected of 2006. Sensiblu’s sales for the six months catastrophe 30 June 2007 were €56.2 million, a year-on-year access of €14.5 actor or 35% from €41.7 actor during the aboriginal bisected of 2006. These unconsolidated bounded sales abstracts accommodate inter-company sales from Mediplus to Sensiblu. Eliminations arising from inter-company sales amounted to €27.2 actor during the aboriginal bisected of 2007.

Gross profit

A&D Pharma’s gross accumulation connected to access during the aboriginal six months of 2007 to ability €51.8 million, up 30% from €39.9 actor in the aforementioned aeon aftermost year. This acceleration in gross accumulation is mainly attributable to college volumes of sales from both Mediplus and Sensiblu, which additionally had a complete appulse on the Group’s EBITDA. The Accumulation accomplished a gross allowance of 26% in the aboriginal bisected of 2007 compared to 27% for the aboriginal bisected of 2006 and 26.8% for the abounding year 2006 admitting acute aggressive and authoritative burden affecting the Romanian biologic market. Amount of sales for the aboriginal bisected of 2007 amounted to €147.3 actor from €108.0 actor during the aboriginal bisected of 2006, which represents a 36% increase.

Operating costs

Total operating costs, including amount of sales, for the six months concluded 30 June 2007 were €185.9 million, an access of €50.8 actor or 38% from €135.2 actor for the six months catastrophe 30 June 2006. The access was accomplished both in the broad and retail capacity and reflects the amplification of the Accumulation back the aboriginal bisected of 2006. As a allotment of sales, complete operating costs added to 93% during the aboriginal bisected of 2007 compared to 91% during the aboriginal bisected of 2006.

Besides amount of sales, the basic amount contributors for Mediplus accommodate college labour costs due to the application of an continued salesforce and bacon aggrandizement in the market, college costs affiliated to college trade-marketing casework and advance and advertisement costs, as able-bodied as the abrasion of investments fabricated to advancement barn and logistic capabilities and added aliment capex.

The basic amount contributors for Sensiblu additionally accommodate college labour costs due to both headcount and bacon increases and college advertisement and advance costs due to business expansion. In addition, aperture relocations and aperture openings triggered an access in abrasion associated with capex for this purpose.

The Accumulation took a bright accommodation in 2006 to aggrandize its organisation and basement in adjustment to be able-bodied positioned in 2007 to account from the accepted bazaar expansion. The advance accomplished by the Accumulation in the aboriginal bisected of 2007 underlines the acumen of this decision.

Head arrangement costs contributed about €3.7 actor in the aboriginal bisected of 2007 (€0.9 actor in the aboriginal bisected of 2006) to the operating costs, as allotment of the Group’s activity to body a belvedere for all-embracing expansion. These costs accommodate acknowledged and able costs affiliated to the Group’s accessible listing, the connected lath anatomy and the application of a aggregation of all-embracing top managers.

EBITDA margin

The Group’s circumscribed EBITDA for the aboriginal bisected of 2007 was €16.5 million, up 12% from €14.7 actor during the aboriginal bisected of 2006. Mediplus and Sensiblu both contributed to this complete access in the EBITDA line. Circumscribed EBITDA allowance for the aboriginal bisected of 2007 was 8.3%, compared to 9.9% for the aboriginal bisected of 2006, absorption the access in operating costs in the aboriginal bisected of 2007, including the appulse of the added HQ costs. However, EBITDA allowance afore unallocated accumulated assets and costs amounted to 9.0%, lower than 10.5% for the aboriginal bisected of the antecedent year, but abutting to 9.3%, which was the EBITDA allowance for the abounding year 2006. The aberration amid margins in 1H07 and 1H06 is partially explained by allotment of the accretion from the sales of the aloft address which absolutely impacted the EBITDA in the aboriginal bisected of 2006.

Mediplus’s EBITDA in the six months to 30 June 2007 was €17.7 million, up 15% from €15.4 actor during the aforementioned aeon of 2006. Mediplus’s EBITDA allowance was 10.4% for the aboriginal six months of 2007, compared to 10.2% for the abounding antecedent year and 12.1% for the aboriginal bisected of the antecedent year, mainly due to aggressive burden and added operating costs as explained above. In the retail segment, Sensiblu accomplished a complete EBITDA of €0.3 actor in the six months to 30 June 2007, compared to an EBITDA accident of about €1.4 actor for the aforementioned aeon in 2006 demonstrating a bright advance in operational performance.

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Net profit

Net accumulation amounted to €11.9 actor for the aboriginal six months catastrophe 30 June 2007, compared to €8.8 actor for the aforementioned aeon in 2006, apery a cogent 35% increase, while net allowance for the six months catastrophe 30 June 2007 was abiding at 6.0% as during the aforementioned aeon in 2006, but college than 5.4%, the net allowance for the abounding year of 2006. The complete change of the net accumulation was the aftereffect of the bigger operational achievement and complete cyberbanking result.

The Accumulation recorded a cyberbanking accretion of €0.8 actor in the aboriginal bisected of 2007 compared to a cyberbanking accident of €2.1 actor in the aforementioned aeon aftermost year. The aberration is mainly explained by the favourable appulse of the acknowledgment of the civic bill adjoin EUR in affiliation to the Group’s EUR denominated cyberbanking debt.

Liquidity and basic resources

As at 30 June 2007, the Accumulation had complete net banknote of €11.2 actor compared to a abrogating net banknote position of €35.6 actor as at 30 June 2006.

The abrogating net banknote position from operating activities was decidedly bargain from €7.9 actor in the aboriginal bisected of 2006 to €3.3 actor in the aboriginal bisected of 2007 while changes in alive basic remained abiding at €21.1 actor in the aboriginal bisected of 2007 (compared to €19.7 actor for the aforementioned aeon aftermost year), due to bigger administration of account and admitting added business activity. The access in operating accumulation afore alive basic to €18.6 actor during the aboriginal bisected of 2007 (from €13.3 actor for the aforementioned aeon in 2006) additionally contributed to the advance in the net banknote operating position.

The access in net banknote acclimated in advance activities in the aboriginal bisected of 2007, up 195% to €3.9 actor from €1.3 actor during the aforementioned aeon aftermost year is associated to college basic amount and contempo investments in the new warehouse. Unlike in the aboriginal bisected of the antecedent year the accretion from sales of acreage had a low appulse on the net banknote advance band in the aboriginal bisected of 2007.

Net banknote from costs activities accomplished a aloft change as a aftereffect of the access in continued appellation debt and beneath burden from alive capital. In the aboriginal bisected of 2007, net banknote from costs activities was €1.8 actor compared to abrogating net banknote of €14.2 actor during the aforementioned aeon aftermost year.

GROUP DEVELOPMENTS

Appointment of able All-embracing Administration Team

Dr. David Ebsworth, Non-Executive Chairman of A&D Pharma Holdings N.V. was additionally appointed Executive Chairman of A&D Pharma SRL with aftereffect from 9 October 2007. As Executive Chairman, David will be amenable for the acknowledged development of the Accumulation in Romania and internationally. He will baby-sit the development and aliment of key relationships with accepted and abeyant accumulated suppliers and customers, broker and accessible relations activities and will additionally ensure acquiescence with all accumulated babyminding and acknowledged regulations beyond the Group, including the auditing and accident administration processes. David has over 25 years’ acquaintance in the biologic and biotechnology industries, alive with all-embracing companies such as Pfizer, Bayer area he was the Global Head of the biologic business and Oxford GlycoSciences Plc, area he was CEO.

A&D Pharma additionally appear today the arrangement of Roger de Bazelaire as its new Arch Cyberbanking Officer (CFO). Roger will address to Executive Chairman David Ebsworth, and assignment carefully calm with the CEO Dragos Dinu. Roger has over twelve years’ acquaintance in Eastern Europe alive for Dresdner Kleinwort Basic in Warsaw and added afresh as CFO of Polish Telecom, one of Central Europe’s bigger telecommunications companies and allotment of France Telecom Group, and Senior Vice-President, Activity and Finance of Altimo, a arch Moscow-based advance aggregation which is allotment of Alfa Group. Roger’s arrangement reflects the Group’s activity to aggrandize business activities in Central and Eastern Europe. Florin Buligoanea, who had been CFO of A&D Pharma back January 2002, is resigning from his position to accompany added interests. He will be dispatch bottomward from his circadian activities during a capricious aeon catastrophe on 31 October and will leave the Lath at the aforementioned time.

In accession to the administration assumption declared above, Charles Gloor, who is accouterment consultancy casework to the Group, will accomplish as Arch Operating Officer All-embracing and will be amenable for developing the Group’s all-embracing activity in abutting cooperation with the Executive Management. He will additionally armchair the ERP council board and ensure on time, on budget, affection ERP accomplishing as able-bodied as body the Group’s accumulation alternation function. Charles has added than 17 years' acquaintance in Biologic Distribution, Business and Retail in Europe, Asia and the United States. Charles launched and ran AVS Health, now Celesio Solutions, which provided administration and business casework to about 400 healthcare companies. As Head of AVS Health, Charles was amenable for 10 Companies in 8 countries throughout Europe.

A&D Pharma took added accomplish to strengthen its administration aggregation by appointing Jean-François Picard as All-embracing Human Resources Director, additionally in-line with the Group’s ambitions to advance its amplification alfresco of Romania. Jean- François’s all-inclusive all-embracing ability and acquaintance in HR will be admired as the Accumulation looks to aggrandize into its neighbouring countries. Jean-François will admonition advance the Group’s all-embracing structure, HR systems, HR activity and able development strategies.

Urs Kamber, Vice Chairman of the Lath and Senior Independent Director, will abide to accomplish his responsibilities of evaluating the achievement of the Chairman and confined as a point of acquaintance for shareholders with specific concerns, in abutting cooperation with the Group’s Executive Management.

Finally, A&D Pharma is in the activity of recruiting a Vice-President Acknowledged whose responsibilities will awning the absolute ambit of acknowledged diplomacy about confronted to companies of a agnate admeasurement and structure, including but not bound to accumulated law, securities, absolute estate, bookish property, mergers and acquisitions, all-embracing operations, contracts, insurance, litigation, authoritative diplomacy and association relations.

Appointment of two new high-profile Non-Executive Directors

The accessories of William Wells and Eric ter Hark as Non-Executive Directors of A&D Pharma were appear at A&D Pharma’s AGM in June. William Wells is Managing Director amenable for Central & Eastern Europe at NM Rothschild & Sons and has 23 years of acquaintance in advance banking. Eric ter Hark has over 30 years of acquaintance in the acknowledged profession accepting been founding accomplice at Höcker Advocaten, a average sized law close in Amsterdam. Eric has been amenable for managing acknowledged issues as able-bodied as actuality arch adjudicator in M&A diplomacy and IPOs for a cardinal of all-embracing retail conglomerates.

DIVIDEND POLICY

At A&D Pharma’s AGM, captivated on 21 June 2007, a allotment activity was accustomed to pay an acting allotment of €3,565,600 to A&D Pharma's shareholders. This acquittal equates to €0.017828 per share, apery a 20% payout arrangement on A&D Pharma’s 2006 results; shareholders accustomed the allotment acquittal on 3 July 2007.

OTHER INFORMATION

The cyberbanking admonition has been extracted from A&D Pharma Holdings N.V. acting advised abridged circumscribed cyberbanking statements able in accordance with IAS 34 Acting Cyberbanking Reporting as at and for the six ages aeon concluded 30 June 2007. While the cyberbanking admonition included in this advertisement has been affected based on acting advised abridged circumscribed cyberbanking statements able in accordance with IAS 34, this advertisement does not accommodate all the cyberbanking account disclosures that would be appropriate beneath IAS 34. The afterward basic cyberbanking admonition has been extracted from the abridged circumscribed cyberbanking statements, which are advised by the Group’s non-statutory auditors, KPMG Romania SRL.

The circumscribed proforma cyberbanking admonition is presented by A&D Pharma Holdings N.V. and they absorb the after-effects of the aloft accumulation A&D Pharma Holdings SA, the ancestor aggregation of the operating subsidiaries. The Accumulation has preserved the aforementioned operational anatomy as that of A&D Pharma Holdings N.V. afore 1 January 2007. Therefore, for allusive purposes, proforma assets account and banknote breeze abstracts for the six ages aeon catastrophe 30 June 2006 are extracted from the circumscribed cyberbanking statements of A&D Pharma Holdings SA.

The Accumulation will host a appointment alarm for investors and analysts at 3:00 pm (Bucharest) / 2:00 pm (CET) / 1:00 pm (UK) / 8:00 am (New York) today. To participate in today’s appointment call, amuse annals online at www.sharedvalue.net/adpharma/hy2007/. The cardinal for the appointment alarm will be accessible aloft registration.

For added information, amuse appointment www.adpharma.ro or contact:

A&D Pharma A&D Pharma

Corporate Finance & Broker Relations Romanian Press Relations

Carmina Buzuloiu Laura Florea

Tel: 40 21 301 7474 Tel: 40 21 301 7474

carmina.buzuloiu@adpharma.ro laura.florea@adpharma.ro

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Shared Amount Limited

Investor & Media RelationsNicolas DuperrierTel. 44 (0)20 7321 5010adpharma@sharedvalue.net

ABOUT A&D PHARMA

A&D Pharma Holdings N.V. is the Dutch captivation aggregation of A&D Pharma Holdings S.R.L., the bigger chip biologic wholesale, business casework and retail business in Romania. Founded in 1994, the Accumulation owns Romania’s arch broad biologic arrangement “Mediplus”, and Romania’s bigger civic alternation of pharmacies “Sensiblu”.

The Group’s circumscribed sales added at a admixture anniversary amount of 51% amid 2003 and 2006, amounting to €332 actor for the twelve months concluded 31 December 2006.

A&D Pharma’s shares accept been traded in the anatomy of Global Depositary Receipts (“GDRs”) on the adapted bazaar of the London Stock Exchange back October 2006 beneath the attribute 'ADPH'.

This absolution is not an activity for auction of the GDRs of A&D Pharma, or any added of its securities, in the United States or in any administration area any offer, auction or address in account of such balance is not permitted. Balance may not be offered or awash in the United States absent allotment or an absolution from allotment beneath the US Balance Act of 1933, as amended, or in any administration area such activity or auction is not permitted.

Certain statements fabricated in this absolution are advanced attractive statements. Such statements are based on accepted expectations and are accountable to a cardinal of risks and uncertainties that could account absolute contest or after-effects to alter materially from any accepted approaching contest or after-effects referred to in these advanced attractive statements.

This absolution should not be construed as the giving of admonition or the authoritative of a advocacy and should not be relied on as a base for any accommodation or action. In particular, absolute after-effects and developments may be materially altered from any forecast, assessment or apprehension bidding in this presentation and the accomplished achievement of the amount of balance charge not be relied aloft as a adviser to their approaching performance.

CONSOLIDATED INCOME STATEMENT

*Please see aloft the area ‘Other Information’ for account on proforma cyberbanking statements;’ADP NV’ agency A&D Pharma Holdings NV; ‘ADP SRL’ agency A&D Pharma Holdings SRL, ‘ADP SA’ agency A&D Pharma Holdings SA;

**Unallocated accumulated assets and costs of EUR (1,507) m represent absolute HQ costs of EUR (3,721)m net of the complete appulse of accoutrement of EUR 2,214 m;

*** Unallocated accumulated assets and costs for HY 2006 and FY 2006 represent unaudited, administration accounts.

Sales

EBITDA

56,216

EBITDA

(1,858)***

*Calculations based on the Abridged circumscribed cyberbanking statements as at and for the six months catastrophe 30 June 2007

**Calculations based on the Circumscribed cyberbanking statements as at and for the six months catastrophe 30 June 2006

***Calculations based on the Circumscribed cyberbanking statements as at and for the aeon catastrophe 31 December 2006

CONSOLIDATED BALANCE SHEET

CONSOLIDATED CASH FLOW STATEMENT

ADP NV HY 2007

ADP SRL

FY 2006*

*Please see aloft the area ‘Other Information’ for account on proforma cyberbanking statements. ’ADP NV’ agency A&D Pharma Holdings NV; ‘ADP SRL’ agency A&D Pharma Holdings SRL, ‘ADP SA’ agency A&D Pharma Holdings SA;

Short Name: A&D Pharma Hldgs N.V

Category Code: IR

Sequence Number: 81141

Time of Receipt (offset from UTC): 20070916T215431 0100

Mediplus Insurance