Bentley Pharmaceuticals Notifies NYSE of Intention to Delist Common Stock

  
    
  
  
    
      Bentley Pharmaceuticals, Inc. (NYSE: BNT) (“Bentley” 
      or the “Company”) 
      announced today that it notified the New York Stock Exchange (the “NYSE”) 
      of its intent to delist its common stock, par value $0.02 per share, 
      from the NYSE immediately following the consummation of the transactions 
      contemplated by the Agreement and Plan of Merger, dated as of March 31, 
      2008, by and among Bentley, Teva Pharmaceutical Industries Ltd. (NASDAQ: 
      TEVA) (“Teva”) and 
      Beryllium Merger Corporation (the “Merger 
      Agreement”).
    
    
      As a result of the merger, Bentley’s common 
      stock will cease to be publicly traded and each outstanding share of the 
      Company’s common stock will be converted into 
      the right to receive approximately $14.82 in cash. If the Merger 
      Agreement is approved by Bentley’s 
      stockholders at the special meeting, which has been scheduled for 
      Tuesday, July 22, 2008, and the other closing conditions are satisfied 
      or waived in accordance with the Merger Agreement, the proposed 
      acquisition is expected to close on July 22 or as soon as 
      administratively practical after that. The affirmative vote of the 
      holders of a majority of the shares of the Company’s 
      common stock outstanding and entitled to vote on the matter will be 
      necessary to approve the merger.
    
    
      About Bentley
    
    
      Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company 
      focused on generic pharmaceutical products. Bentley manufactures and 
      markets a growing portfolio of generic and branded generic 
      pharmaceuticals in Europe for the treatment of cardiovascular, 
      gastrointestinal, infectious and central nervous system diseases through 
      its subsidiaries -- Laboratorios Belmac, Laboratorios Davur, 
      Laboratorios Rimafar and Bentley Pharmaceuticals Ireland. Bentley also 
      manufactures and markets active pharmaceutical ingredients through its 
      subsidiary, Bentley API. For more information about Bentley, please 
      visit www.bentleypharm.com.
    
    
      On October 23, 2007, the Company announced its plan to distribute to its 
      existing stockholders, on a pro rata basis, all of the shares of common 
      stock of CPEX Pharmaceuticals, Inc., the Company’s 
      drug delivery division. On March 31, 2008, Bentley announced that it had 
      entered into an agreement to be acquired by Teva. As one of the 
      conditions to the consummation of the acquisition, on June 30, 2008, 
      Bentley completed the spin-off of its drug delivery business as an 
      independent company known as CPEX Pharmaceuticals, Inc. (NASDAQ: CPEX). 
      As a result of the spin-off, Bentley now contains only its generic 
      pharmaceutical operations, which will be entirely acquired by Teva 
      through a merger of its wholly owned subsidiary, Beryllium Merger 
      Corporation, with and into Bentley.
    
    
      Important Information
    
    
      In connection with the proposed merger, Bentley has filed with the 
      Securities and Exchange Commission ("SEC") a definitive proxy statement, 
      which has been mailed to Bentley’s 
      stockholders. The proxy statement contains information about Bentley, 
      the proposed merger and related matters. STOCKHOLDERS ARE URGED TO READ 
      THE PROXY STATEMENT CAREFULLY, AS IT CONTAINS IMPORTANT INFORMATION THAT 
      STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING A DECISION ABOUT THE MERGER. 
      In addition to receiving the proxy statement from Bentley by mail, 
      stockholders may obtain the proxy statement, as well as other filings 
      containing information about Bentley, without charge, from the SEC’s 
      website (http://www.sec.gov) or, 
      without charge, from Bentley’s website www.bentleypharm.com 
      or by directing such request to Bentley Pharmaceuticals, Inc., Bentley 
      Park, 2 Holland Way, Exeter, NH 03833, Attention: Richard Lindsay, Chief 
      Financial Officer.
    
    
      Bentley and its directors and executive officers and other persons may 
      be deemed to be participants in the solicitation of proxies in respect 
      of the proposed merger. Information regarding Bentley’s 
      directors and executive officers is available in Bentley’s 
      2007 Annual Report on Form 10-K, as amended, which was filed with the 
      SEC on March 17, 2008 and amended on April 29, 2008. Other information 
      regarding the participants in the proxy solicitation and a description 
      of their direct and indirect interests, by security holdings or 
      otherwise, is contained in the proxy statement/prospectus and other 
      relevant materials, which have been filed with the SEC.
    
    
      Bentley’s Safe Harbor Statement under the 
      U. S. Private Securities Litigation Reform Act of 1995:
    
    
      This press release contains forward-looking statements, including, 
      without limitation, statements regarding the merger transaction entered 
      into between Bentley and Teva. These forward-looking statements are 
      subject to a number of risks and uncertainties that could cause actual 
      results to differ materially from future results expressed or implied by 
      such statements. Factors that may cause such differences include, but 
      are not limited to, risks associated with the following: approval of the 
      proposed merger transaction by the stockholders of Bentley and other 
      uncertainties detailed under “Risk Factors” 
      in Bentley’s 2007 Annual Report on Form 10-K, 
      as amended, and its other subsequent periodic reports filed with the SEC 
      and available at the SEC’s Internet site (http://www.sec.gov). 
      Bentley cautions investors not to place undue reliance on the 
      forward-looking statements contained in this release. These statements 
      speak only as of the date of this document, and Bentley undertakes no 
      obligation to update or revise the statements, except as may be required 
      by law.