TARO PHARMACEUTICAL TO RESTATE 2003-04 RESULTS, PROVIDES ESTIMATES FOR 2005 SALES

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Taro Pharmaceutical Industries Ltd. said that it expects to report 2005 sales in a range of approximately $295 million to $305 million, and net income in a range of approximately $14.0 million to $16.0 million. These estimates are subject to change pending completion of the audit of 2005 results. Although Taro does not ordinarily provide estimates or guidance on earnings, the Company is making an exception in light of the extended period for completion of its 2005 audit.

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