8th April, 2002

SIGMA GROWS BRANDS 20% BY NEW ACQUISITION

Sigma Company Limited today announced that it had acquired a range of branded pharmaceutical products for the Australian and New Zealand markets from Wyeth and entered into a co-promotion agreement with Abbott Australasia.

Commenting on today's announcement, Sigma's Managing Director, Elmo de Alwis said, "This product range acquisition will add approximately $20 million per annum in revenue to the existing $100 million Sigma branded product portfolio. This purchase and the new marketing agreement are in line with the strategy we have been pursuing for the last two years. In 2001 Sigma had a big year in acquiring new manufacturing contracts from multinational pharmaceutical companies in Australia, and this year we are looking for similar expansion of our brand portfolio. While this announcement is significant in terms of brand growth, we will continue to look for further opportunities as the year progresses"

Wyeth Australia Managing Director, Mr Geno Germano said "This transaction is consistent with our strategy to focus more on Wyeth's emerging pipeline of novel biotechnology, small molecule and vaccine products. We have enjoyed a very positive relationship with Sigma over several years and are delighted to reach this agreement and advance the business objectives of both companies".

Profit margins from these new products will be at similar levels to Sigma's existing branded portfolio. Some of the purchased product presentations are currently contract manufactured by Sigma on behalf of Wyeth with the manufacture of the majority of the other product brands due to be transferred into Sigma manufacturing facilities in a timely fashion to further improve and optimise manufacturing facility volumes.

The acquisition is consistent with the strategic objectives for the Pharmaceutical business in acquiring well known brands that have a core fit with the current portfolio and lend themselves to in-house manufacturing in Sigma facilities.
The product parcel includes such Major brands as Ativan tablets, Normison and Serepax (hypnotic sedatives, Aristocort (topical steroid); Minomycin (antibiotic); and Nilstat (antifungal).

The marketing arrangement further consolidates Sigma's alliance with Abbott Australasia with an agreement to co-promote the recently launched weight management product REDUCTIL (sibutramine). Sigma and Abbott sales teams will promote REDUCTIL to medical practitioners throughout Australia.

REDUCTIL, like other newer introductions for weight management, is available on private prescription. The market for such products in Australia is now over $50 Million and growing at 17% per annum.

Last year Sigma licensed a key new antibiotic, Klacid, from Abbott Australasia and sales exceeded both companies' expectations.

For further information, please contact:
Gerry Bullon, Investor Relations