Bilcare AG, part of the Bilcare group, today successfully completed
all formalities related to the acquisition of the global films
business from the INEOS Group. Bilcare AG had announced its intentions
to acquire the business for a sum of Rs. 607 crores on August 2, 2010.

Consequent to completion of all formalities, the global films
business, with 2009 annual sales of Rs.1458 crores, will now become a
part of the Bilcare group.

Dr. Heinz Gaertner, Executive Chairman of Bilcare AG, said, "This
transaction presents a unique opportunity and enhances our offer to
apply our innovation led approach to a broad range of industries,
currently served by INEOS Films, particularly in Europe and USA."

Mohan Bhandari, Chairman, Bilcare Limited, said, "This acquisition is
a paradigm shift in the pharma packaging space & a significant step
towards creating a customer centric company to deliver path breaking
innovations and establish global leadership."

INEOS Films division is a leading global producer of high quality
polymer films built on expertise and innovation. As part of the
Bilcare group it will continue to play a major role in the world of
pharmaceutical blister packaging, films for printing and decoration,
shrink film for sleeves, capsules and plastic credit cards. Bilcare AG
will now fully integrate the business, which had a turnover of around
EUR 240 million in 2009, employing around 1300 people across
manufacturing sites in Germany, Italy, India and USA.

Note to editors:

About BilcareBilcare (www.bilcare.com (http://www.bilcare.com/) )
Bilcare Ltd. (BSE code 526853) is an international, integrated service
provider to the global pharmaceutical industry offering Pharma
packaging & research, global clinical trial supplies services and
Bilcare Technologies offering nonClonableID identification,
authentication, secure track-n-trace anti-counterfeiting technology.
Bilcare operates state-of-the-art manufacturing and research
facilities in India, Singapore, USA and UK and has regional offices in
Brazil, Germany, China and Australia. Bilcare provides solutions that
address many of the industry's key concerns including counterfeit
drugs, compliance, costs, communication and convenience.