Moscow, 27 March, 2008 – OJSC Pharmstandard (LSE: PHST LI, RTS: PHST RU), the leading domestic pharmaceutical company in Russia and the third largest pharmaceutical company operating in Russia overall, announces that:

OJSC Pharmstandard today disclosed the completion of transactions by which structures affiliated with Messrs. V.V. Kharitonin and E.N. Kulkov – the main beneficiaries of Pharmstandard’s largest shareholder, Augment Investments Limited – acquired an additional 17% stake in the company.

The transactions involved the acquisition of shares in Augment Investments Limited previously controlled by Mr. R.A. Abramovich, Mr. E.M. Shvidler and structures affiliated with the management of Millhouse LLC.