- Actavis' Board recommends Novator's revised offer


Reykjavik, Iceland, 22 June, 2007 ― The Board of Actavis Group, the
international generic pharmaceuticals company (OMX: ACT), notes the revised
voluntary offer that Novator has made today to acquire A class shares of
Actavis.  Novator is an investment firm led by Bjorgolfur Thor Bjorgolfsson,
Chairman of Actavis. 

Under the terms of Novator's revised offer, Actavis shareholders would receive
EUR1.075 per share. This represents a premium of 19.6% to Actavis's share price
on 9 May 2007, the day immediately prior to Novator's announcement of its
initial offer, which was subsequently published on 1 June 2007. The revised
offer represents an additional10.6% increase on the initial offer of EUR 0.98
per share. 

Additional cash payment clause

In addition, the revised offer contains a clause where existing Actavis
shareholders are entitled to receive an additional payment in the event that
Novator sells 10% or more of its common equity interest in Actavis within 12
months of the revised offer closing. Full details of the additional payment
clause are set out in Novator's revised offer. 

Recommendation 

The Board of Actavis, which excludes Bjorgolfur Thor Bjorgolfsson, Andri
Sveinsson and Robert Wessman, has considered the terms of the revised offer by
Novator. 

Following consultation with JPMorgan, who have acted as financial advisors, the
Board believes that the terms of the revised offer are fair and reasonable to
Actavis shareholders. According to article 41 of the Act no. 33/2003 on
securities transactions in Iceland, the Board has also taken into account other
factors included in the offer such as the way the bid will be financed and
Novator's future plans for Actavis' senior management, details of which have
been set out in the published offer. 

Accordingly, Actavis' Board unanimously recommends that Actavis shareholders
accept the revised offer from Novator. 


For further information:
   
Sindri Sindrason, Actavis Board member
(+354) 892-4481

Halldor Kristmannsson, VP Corporate Communications                   
(+354) 535-2300 / 840-3425 
hkristmannsson@actavis.com 


About Actavis
Actavis is one of the world's leading generic pharmaceutical companies
specializing in the development, manufacture and sale of generic
pharmaceuticals.  Based in Iceland, the company has operations in 39 countries,
with over 11,000 employees. The Company's market capitalization is
approximately EUR3.3bn and it's listed on the OMX Exhange in Iceland. For
further information, visit www.actavis.com