Reykjavik, Iceland, 8 June, 2007 ― Actavis Group, the international generic pharmaceuticals company (OMX: ACT), today announces that further to it's statement on 1 June, 2007, the Actavis Board of Directors has evaluated the voluntary offer by Novator, an investment firm led by Bjorgolfur Thor Bjorgolfsson, Chairman of Actavis. Under the terms of offer, Actavis shareholders would receive EUR0.98 per share in cash for A class shares. Having reviewed the offer, the Board of Actavis (which excludes Bjorgolfur Thor Bjorgolfsson, Andri Sveinsson and Robert Wessman for the purposes of evaluating the offer) does not believe the offer adequately reflects the fundamental value of Actavis or its future prospects. Accordingly, the Board does not consider the offer to be fair and does not recommend that shareholders accept it. According to article 41 of the Act no. 33/2003 on securities transactions in Iceland, the Board has looked at other factors in the offer in addition to the price offered to shareholders. These factors include the financing of the offer and the future plans for the company and its senior management, which Novator has set out in its published offer. The Board does not believe any of these factors have a material impact on its decision. The Board continues to be open to discussions with Novator and will form an opinion on new offers if they are submitted. For further information: Halldor Kristmannsson, VP Corporate Communications (+354) 535-2300 / 840-3425 hkristmannsson@actavis.com About Actavis Actavis is one of the world's leading generic pharmaceutical companies specializing in the development, manufacture and sale of generic pharmaceuticals. Based in Iceland, the company has operations in 39 countries, with over 11,000 employees. The Company's market capitalization is approximately EUR3.3bn and it's listed on the OMX Exhange in Iceland. For further information, visit www.actavis.com