BEXIMCO PHARMACEUTICALS LTD.

SEC Consent to GEM Placing

Further to the announcement of 19 February 2009, Beximco announces that the Securities and Exchange Commission has accorded its consent under the provisions of the Securities and Exchange Commission (Issue of Capital) Rules 2001, for the issuance of 16,000,000 Ordinary Shares of Tk 10 each at an issue price up to Tk 312.50 per share (including a premium up to Tk 302.50 per share) and Warrants to subscribe for a maximum 2,500,000 Ordinary Shares of Tk 10 each at an issue price at Tk 200 per share (including a premium of Tk 190 per share), through a private placement with GEM Global Yield Fund Limited.

For further enquiries please contact:

Libertas Capital

Aamir Quraishi / Anthony Rowland

Tel: +44 (0)20 7569 9650

Financial Dynamics

David Yates / Susan Quigley

Tel: +44 (0)20 7269 7169

Notes to Editors

About Beximco Pharmaceuticals Limited

Founded in 1976 and based in Dhaka, Bangladesh, BPL manufactures and sells generic pharmaceutical formulation products, active pharmaceutical ingredients and intravenous fluids. The Company also manufactures and markets its own branded generics for almost all diseases. The Company also undertakes contract manufacturing for multinational pharmaceutical companies. The Company operates from a 20 acre site in Dhaka and currently employs over 2,400 staff.

The Company's products are sold to retail outlets, medical institutions and other pharmaceutical manufacturers in Bangladesh, in regional markets such as Sri Lanka, Nepal, Bhutan, Vietnam, Cambodia and Myanmar and in other markets overseas, principally in East Africa, Pacific Island and Central American countries and South East Asia, including Singapore and Hong Kong.