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    Voluntary Takeover Bid for Zentiva N.V. Shares
    05/02/2008

    Anthiarose Limited, a wholly owned subsidiary of PPF Group N.V., announces its plan to make a voluntary takeover bid addressed to all of the owners of shares  and global depository shares of Zentiva N.V.

    The bid is aimed at acquiring such an interest in Zentiva, which will enable the offeror to actively influence the strategy and day-to-day business of Zentiva. With the aim to assert and increase the influence on the operations of Zentiva at the directions of PPF Group, PPF Group N.V. is cooperating with Generali PPF Holding B.V. Both entities have already notified the regulator AFM and the Board of Directors of Zentiva that they are acting in concert.

    In accordance with appropriate legislation of the Czech Republic (the Takeover Bids Act), the draft offer document related to the takeover bid is subject to the Czech National Bank’s supervision as the competent regulatory authority. The takeover bid will be launched only if and after the draft offer document passes through such a supervisory process.

    The bid price for the shares is set as CZK 950 and for the global depository shares as CZK 950 each. The bid price represents a premium of 3.3 percent of the six months volume weighted average price per share at Prague Stock Exchange (PSE), and a premium of 3.6 percent of the closing market share price at PSE (SPAD) as of April 30, 2008.

    PPF Group evaluates positively the strategic direction that Zentiva is pursuing. PPF Group plans to execute actively its shareholders rights in order to support the current management’s effort focused on further development and increase of the company’s value.

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