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West Pharmaceutical Services Sells GFI Clinical Services Unit

Posted on: Tuesday, 23 August 2005, 09:01 CDT

LIONVILLE, Pa., Aug. 23 /PRNewswire-FirstCall/ -- West Pharmaceutical Services, Inc. today announced the sale of the assets of the Company's GFI Clinical Services, an 80-bed Phase I clinical trial facility in Evansville, IN, to Covance, Inc. . The sale completes the divestiture of the businesses that comprised the Company's former Drug Delivery division. West received $5.7 million for the assets, subject to a closing-date working capital adjustment, and will recognize an after-tax gain from the sale of discontinued operations of approximately $0.5 million, or $0.02 per share, in the third quarter of 2005. Pursuant to the agreement between West and Covance, substantially all of the approximately 100 employees at the Evansville facility will continue to be employed at the facility.

Donald E. Morel, Jr., Ph.D., West's Chairman and Chief Executive Officer said, "With the sale of West's Drug Delivery unit in January 2005, GFI no longer fits into West's manufacturing and products-focused strategy. We are delighted that the sale will preserve the GFI operation and employment, and believe that, under the Covance umbrella, GFI will continue to provide outstanding service to our mutual pharmaceutical customers."

About West Pharmaceutical Services, Inc.

West Pharmaceutical Services, Inc. is the world's premier manufacturer of components and systems for injectable drug delivery, including stoppers and seals for vials, and closures and disposable components used in syringe, IV and blood collection systems. The Company also provides products with application to the personal care, food and beverage markets. West's customers include the world's leading pharmaceutical, biotechnology, generic drug and medical device producers. Headquartered in Lionville, Pennsylvania, West Pharmaceutical Services supports its partners and customers from 50 locations throughout North America, South America, Europe, Mexico, Japan, Asia and Australia. For more information, visit West at http://www.westpharma.com/

West Pharmaceutical Services, Inc.

CONTACT: Michael A. Anderson, Vice President and Treasurer of WestPharmaceutical Services, Inc., +1-610-594-3345, mike.anderson@westpharma.com;Media: Risa Goldman of Schwartz Communication, +1-781-684-0770,westpharma@schwartz-pr.com; Investors and Financial Media: Julie Huang orTheresa Kelleher, both of Financial Dynamics, +1-212-850-5600, wst@fd-us.com,all for West Pharmaceutical Services, Inc.

Web site: http://www.westpharma.com/

Source: PRNewswire-FirstCall

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