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ELITE ANNOUNCES AGREEMENT WITH PLIVA

June 29, 2005

Elite Pharmaceuticals announced that it has entered into a product development and license agreement with Pliva, a subsidiary of Pliva d.d., a specialty generics pharmaceutical company, for a generic, controlled release drug product formulated by Elite. The product is an anti-infective with a U.S generic market size of approximately $90 million in 2004 and which had an approximate 10 percent growth in dose units sold in 2004. A pilot bioequivalence study has been completed and scale up will begin shortly.

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