3rd Quarter Results

FINANCIAL AND OPERATING PERFORMANCE OF A&D PHARMA HOLDINGS N.V. FOR THE FIRST NINE MONTHS OF 2008

25% year-on-year growth in consolidated Group sales

31% year-on-year growth in Wholesale sales

15% year-on-year growth in Sales & Marketing sales

27% year-on-year growth in Retail sales

A&D Pharma Holdings N.V. (the “Group”, the “Company” or “A&D Pharma”), the Dutch holding company that owns the largest integrated pharmaceutical sales and marketing services, wholesale and retail business in Romania, announces a 25% year-on-year increase in unaudited consolidated net sales for the nine months ended 30 September 2008 to EUR 376.9 million (9 months 2007: EUR 301.8 million).

A&D Pharma operations recorded strong year-on-year sales growth for the nine month period ended 30 September 2008. Mediplus Exim S.R.L. ('Mediplus'), recorded year-on-year sales growth of 27% to EUR 325.3 million for the first nine months of 2008 compared to EUR 256.5 million during the same period of 2007. This includes unaudited sales of EUR 70.8 million from the Sales and Marketing business segment (9 months 2007 pro-forma: EUR 61.6 million) and unaudited sales of EUR 254.6 million from the wholesale business segment (9 months 2007 pro-forma: EUR 194.9 million). The retail division, Sensiblu SRL ('Sensiblu'), recorded year-on-year sales growth of 27% to EUR 111.2 million for the nine months of 2008, compared to EUR 87.4 million for the same period in 2007. These unconsolidated divisional sales figures include inter-company sales of EUR 59.6 million from Mediplus to Sensiblu (9 months 2007: EUR 42.2 million).

Due to the depreciation of the Romanian Leu (“RON”) against the Euro over the nine month period ended 30 September 2008 compared to the corresponding period of 2007, the increase in the unaudited consolidated Group sales denominated in RON reached 38% while the sales growth denominated in EUR was 25%.

Robert Popescu, interim CEO of A&D Pharma commented: “Our growth in revenues is driven by the Company’s efforts to consolidate and optimize its operations in all business areas and by the growth potential of the Romanian pharmaceutical market. Romania is the second largest consumer market in CEE and current low level of drug consumption per capita supports a projected growth in healthcare spending per capita. Our focus on reducing operating costs, optimising internal processes and growing high margin business areas, such as our Sales & Marketing division, will help us to deliver the best possible results.”

Sales & Marketing

A&D Pharma’s high margin Sales & Marketing division recorded a 15% year-on-year increase in revenues, supported by the strong performance of its Amgen and OTC franchises that significantly outperformed the market. This business segment continues to focus its efforts on developing its higher margin product portfolios, containing prescription drugs for primary care and chronic diseases, OTC products, cosmetics, dermo-cosmetics, and medical devices. The Company intends to capitalize on the strength of its sales force and its in-depth knowledge of the pharmaceutical regulatory, sales and marketing areas, to forge other strategic partnerships that will enhance its growing products portfolio to further boost growth in the Sales & Marketing segment.

Wholesale

The Wholesale segment continued to outperform the total pharmaceutical market by recording a 31% year-on-year increase in sales during the first nine months of 2008. This increase in revenues can be attributed to the higher sales of oncology and other drugs to hospitals during the period.

Mediplus increased its share of the total pharmaceutical wholesale market to 19.4% during the first nine months of 2008 compared to 17.8% for the same period in 2007. Mediplus significantly outperformed the general hospital market to increase its share of the hospital market to 10.0% during the first nine months of 2008 compared to a 3.7% share during the corresponding period of 2007. Mediplus's share of pharmaceutical sales to pharmacies in Romania continues to be strong, with the Company recording a slight increase in market share to 20.7% for the period ending September 2008, compared to 20.1% for the same period in 2007. Regulators’ refusal to keep prescription prices in line with rising exchange rates had an impact on the growth levels in this segment.

Retail

During the third quarter of 2008, A&D Pharma continued to focus on the vertical growth of Sensiblu’s pharmacy chain by developing its existing pharmacy base and focusing on the development of existing outlets. This resulted in a 27% increase in turnover during the first nine months of 2008, with only 6 additional stores opened during the period (221 locations in September 2008 vs. 215 locations in September 2007). We continue to focus on growing sales per outlet by offering high quality services, by adapting our product portfolio to clients’ profiles, and by evaluating the profitability of each of our stores.

Focus on Profitability and the balanced growth of A&D Pharma’s business portfolio

As current global economic conditions and the situation in the local Pharmaceutical market, have become more uncertain, A&D Pharma is taking the following steps to ensure the Company continues to meet its growth and profitability objectives:

• Better cost management and increased efficiency by reducing operating costs across all business lines;
• Re-organize business processes, especially in the area of wholesale and support functions. This will result in some workforce reduction over the coming months;
• Optimize internal processes to increase workforce output;
• Continue to optimize A&D Pharma’s business portfolio by growing high margin business areas such as the Sales & Marketing business segment and capitalizing on the stable, steady growth segments such as Wholesale and Retail;
• Continue to focus on per store profitability of Sensiblu stores, strengthen and consolidate its existing network;
• Maintain stable working capital through the efficient management of suppliers and customers’ portfolio.

Financial Summary

Turnover		(EUR million)		(EUR million)				(RON million)		(RON million)
Group		9M 2008		9M 2007		%		9M 2008		9M 2007		%
Mediplus		325.3		256.5		27%		1,184.8		845.6		40%
Wholesale		254.6		194.9		31%		927.2		642.2		44%
Sales & Marketing		70.8		61.6		15%		257.6		203.4		27%
Sensiblu		111.2		87.4		27%		404.4		288		40%
Retail		111.2		87.4		27%		404.4		288		40%
Eliminations		(59.6)		(42.2)		41%		(217.5)		(137.8)		58%
Group		376.9		301.8		25%		1,371.7		995.7		38%
Average FX Rate (EUR/RON)		3.64		3.30		10%

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For further information, please visit www.adpharma.ro or contact:
A&D Pharma Investor Relations Cristian Barbulescu Tel: +40 21 301 7474 cristian.barbulescu@adpharma.ro	A&D Pharma Romanian Press Relations Diana Klusch Tel: +40 728 188 146 presa@adpharma.ro
Shared Value Limited Investor & Media Relations Nicolas Duperrier / Mark Walter Tel. +44 (0)20 7321 5010 adpharma@sharedvalue.net

ABOUT A&D PHARMA

A&D Pharma Holdings N.V. is the Dutch holding company of A&D Pharma Holdings S.R.L., the leading pharmaceutical sales and marketing services, wholesale and retail business in Romania. Founded in 1994, the Group owns Romania’s leading pharmaceutical wholesale, sales and marketing services for CHC and Rx products network “Mediplus”, and Romania’s largest national branded chain of pharmacies “Sensiblu”.

The Group’s consolidated sales increased at a compound annual rate of 45% between 2003 and 2007, amounting to €425 million for the twelve months ended 31 December 2007. A&D Pharma’s shares have been traded in the form of Global Depositary Receipts (“GDRs”) on the regulated market of the London Stock Exchange since October 2006 under the symbol 'ADPH'.

This release is not an offer for sale of the GDRs of A&D Pharma, or any other of its securities, in the United States or in any jurisdiction where any offer, sale or solicitation in respect of such securities is not permitted. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended, or in any jurisdiction where such offer or sale is not permitted.

Certain statements made in this release are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results referred to in these forward looking statements.

This release should not be construed as the giving of advice or the making of a recommendation and should not be relied on as a basis for any decision or action. In particular, actual results and developments may be materially different from any forecast, opinion or expectation expressed in this presentation and the past performance of the price of securities must not be relied upon as a guide to their future performance.