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Post Offer Public Announcement to the Shareholders of ALPHA DRUG INDIA LTD.

The details subsequent to the completion of the Offer made vide Public Announcement dated 27/02/2003 in terms of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto by �Punjab Chemicals & Pharmaceuticals Ltd.� to acquire 75,84,690 equity shares representing 20% of total paid up capital of Alpha Drug India Ltd. at a price of Rs. 10/- per fully paid up equity shares payable in cash are as under:

1.	Name of the Target Company	:	Alpha Drug India Ltd.
2.	Name of Acquirer(s) including PACs	:	Punjab Chemicals & Pharmaceuticals Ltd. (Acquirer)
3.	Name of Manager to the offer	:	Fortune Financial Services (India) Limited.
4.	Name of the Registrar to the offer	:	Intime Spectrum Registry Limited
5.	Offer details
	Date of opening of the offer	:	21/04/2003
	Date of closure of the offer	:	20/05/2003
6.	Details of the acquisition

Sr. No.	Particulars	Proposed in the offer document		Actuals
1	Offer price	Rs. 5.50		Rs. 5.50
2	Share holding of acquirer (No & %) before MOU / P.A.	Nil		Nil
3	Shares acquired by way of MOU or market purchases (No & %)	1,88,56,058 Shares (49.72%)		1,88,56,058 Shares (49.72%)
4	Shares acquired in the open offer (No. & %)	75,84,690 Shares (20.00%)		15,08,813 Shares (3.98%)
5	Size of the open offer (No of shares multiplied by offer price per share)	Rs. 4,17,15,795/-		Rs. 82,98,471.50
6	Shares acquired after P.A. but before 7 working days prior to closure date, if any. (No. & %) 6.1 Price of the shares acquired 6.2 No. of shares acquired 6.3 % of shares acquired	Nil N.A. N.A. N.A.		Nil N.A. N.A. N.A.
7	Post offer share holding of acquirers (No. & %) (2+3+4+6)	2,64,40,748 Shares (69.72%)		2,03,64,871 Shares (53.70%)
8	Pre & Post offer share holding of public (No. & %)	Pre Offer	Post Offer	Pre Offer	Post Offer
		1,57,72,640 41.59%	81,87,950 21.59 %	1,57,72,640 41.59%	1,42,63,827 37.61%
9	Share holding of Other Promoter (PSIDC) (No & %)	32,94,750 Shares (8.69%)		32,94,750 Shares (8.69%)

7.	Status of the escrow account, whether released or not.	:	Bank Guarantee not released
8.	Payment of interest, if any, to shareholders alongwith the details thereof	:	Not Applicable
9.	Status of Investor Complaints received, if any	:	Nil

The Directors of the Acquirer accept full responsibility for the information contained in this Public Announcement and are jointly and severally responsible for the obligations of the Acquirer as laid down in the SEBI (SAST) Regulations.

This Public Announcement would also be available on the SEBI�s website www.sebi.gov.in

Issued by the MANAGER TO THE OFFER:

FORTUNE FINANCIAL SERVICES

(INDIA) LIMITED.

2^nd Floor, K. K. Chambers,

Sir Purushottamdas Thakurdas Marg,

Fort, Mumbai � 400 001.

Tel: (022) 2207 7931, Fax No. (022) 2207 2948,

e-mail : gfaspl@bom5.vsnl.net.in

Contact Person: Mr. Jinesh N. Mehta

On behalf of the Acquirer:

Punjab Chemicals &

Pharmaceuticals Ltd.

SCO 417-418, Sector 35C,

Chandigarh-160 022.

Place : Mumbai

Date : June 30, 2003

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