EU approves of AstraZeneca merger

EU APPROVES OF ASTRAZENECA MERGER Astra AB today announces that the Commission of the European Union has approved the proposed merger of Astra and Zeneca Group PLC. Commenting on the EU clearance Tom McKillop, CEO Designate of AstraZeneca said, "Achieving EU sign off so quickly at the end of Phase I review reflects the complementarity of the product portfolios and research activity of the two groups and the absence of material competition issues. This approval represents a further significant step towards the realization of the AstraZeneca merger." As part of the approval, undertakings have been given to the Commission in respect of a limited number of specific products areas. Zeneca will return to Chiroscience Group plc the worldwide license (which had excluded Japan) to the local anesthetic Chirocaine and on a transitional basis will continue to support the development of Chirocaine which is yet to be marketed. Zeneca will also establish exclusive third party distribution arrangements for the beta blocker Tenormin in Sweden and Norway only, and Astra will divest its small European beta blocker diuretic dual combination business. These arrangements will not have a material effect upon either group. Obtaining competition authority approvals will fulfill a specific condition of the Merger Agreement between Astra and Zeneca. Contact persons: Staffan Ternby, Vice President, PR & Information, Astra AB, +46 8 553 261 07 Mikael Widell, Press Officer, PR & Information, Astra AB, +46 8 553 264 28 Michael Olsson, Manager, Investor Relations, Astra AB, +46 8 553 259 52 Jörgen Winroth, Investor Relations U.S., Astra AB,+ 1 609 896 4148 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/01/19990301BIT00240/bit0001.doc http://www.bit.se/bitonline/1999/03/01/19990301BIT00240/bit0002.pdf