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Taro Pharmaceutical Industries Reports Retirement of Aaron Levitt as President of the Company

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HAWTHORNE, NY--(BUSINESS WIRE)--Oct. 1, 2004--Taro Pharmaceutical Industries Ltd. ("Taro," Nasdaq: TARO) today announced the retirement of Aaron Levitt, President of the Company.

Mr. Levitt has built a distinguished career as a pharmaceutical and cosmetics executive over more than 30 years, during which he has served in key positions in marketing, sales, business development and general management. He was elected to Taro's Board of Directors in 1981 and became President of the Company in 1982. In 1984, Mr. Levitt was responsible for Taro's entry into the U.S. and North American market.

"Aaron has been with Taro every step of the way as we built the company into a leading manufacturer of topical prescription products sold in the United States," said Barrie Levitt, M.D., Chairman of Taro Pharmaceutical Industries Ltd. "We will miss Aaron's presence at Taro and wish him the best in his retirement and future endeavors."

During his years at Taro, Mr. Levitt became a well-known figure in the U.S. pharmaceutical industry. In the United States, among other activities, he helped to establish funding for pharmacy students through the National Association of Chain Drug Stores.

Mr. Levitt was a seasoned sales and marketing executive when he came to Taro. He joined the Company in 1980 after serving as Regional Sales Manager for the Coty Division of Pfizer Inc. from 1970 to 1976 and later as the Regional Sales Manager for the Ultima Division of Revlon Group Inc. from 1976 to 1979.

Taro is a multinational, science-based pharmaceutical company dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. For more information on Taro, please visit www.taro.com.


    CONTACT: Taro Pharmaceutical Industries Ltd.
             Daniel Saks
             Vice President, Corporate Affairs
             914-345-9000 ext. 6208
             or
             Kevin Connelly
             Chief Financial Officer
             914-345-9000 ext. 6338

    SOURCE: Taro Pharmaceutical Industries Ltd.
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