Recordati S.p.A. - Recordati completed all formalities related to its U.S. debt private placement

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Recordati completed all formalities related to its U.S. debt private placement

Milan, December 23, 2004

Recordati announced that it has completed all the formalities linked to its $ 100 million U.S. debt private placement which was concluded last October 14. The Senior Notes were issued by Recordati S.A., Luxembourg, and guaranteed by the parent company Recordati S.p.A.. The transaction comprises four series as follows: € 15 million with 7 year bullet maturity and fixed coupon at 4.52%, $ 40 million with 10 year bullet maturity and fixed coupon at 5.50%, € 26 million with 10 year bullet maturity and fixed coupon at 5.02% and £ 5 million with 10 year bullet maturity and fixed coupon at 6.09%. The main financial covenants are: consolidated net debt to EBITDA which must not exceed 3 to 1 and consolidated EBIT to net consolidated financial expenses which must be at least 3 to 1. As the issuer is 100% owned by the parent, this operation does not fall under art. 71-bis of the CONSOB regulation applicable to issuers.

Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003074447), dedicated to the research, development, manufacturing and marketing of pharmaceuticals and pharmaceutical chemicals, with headquarters in Milan, Italy and operating subsidiaries in France, Ireland, Spain, Switzerland and the United States.

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Shareholder information Recordati at a glance Key Financial Data Recordati Share Press Releases 2008 2007 2006 2005 2004 2003 2002 2001 2000 Company Presentations Annual and Interim Reports Calendar Analyst Coverage Contacts	Press Releases Recordati completed all formalities related to its U.S. debt private placement Milan, December 23, 2004 Recordati announced that it has completed all the formalities linked to its $ 100 million U.S. debt private placement which was concluded last October 14. The Senior Notes were issued by Recordati S.A., Luxembourg, and guaranteed by the parent company Recordati S.p.A.. The transaction comprises four series as follows: € 15 million with 7 year bullet maturity and fixed coupon at 4.52%, $ 40 million with 10 year bullet maturity and fixed coupon at 5.50%, € 26 million with 10 year bullet maturity and fixed coupon at 5.02% and £ 5 million with 10 year bullet maturity and fixed coupon at 6.09%. The main financial covenants are: consolidated net debt to EBITDA which must not exceed 3 to 1 and consolidated EBIT to net consolidated financial expenses which must be at least 3 to 1. As the issuer is 100% owned by the parent, this operation does not fall under art. 71-bis of the CONSOB regulation applicable to issuers. Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003074447), dedicated to the research, development, manufacturing and marketing of pharmaceuticals and pharmaceutical chemicals, with headquarters in Milan, Italy and operating subsidiaries in France, Ireland, Spain, Switzerland and the United States.