Changes In PLIVA's Management Board

EAST HANOVER, N.J.--(BUSINESS WIRE)--Dec. 15, 2003--The PLIVA d.d. Supervisory Board has appointed Mr. Paul D. Cottone, CEO of PLIVA, Inc., a subsidiary of PLIVA d.d. as Vice President of the Management Board of PLIVA d.d., effective as of December 11, 2003.

Mr. Cottone has a long-standing experience in the pharmaceutical industry dating back to 1972, when he started his career with Merck Sharp & Dohme (MSD), a division of Merck and Co. Inc,. in New York. His appointment in 1982 as Director of Marketing and Sales for Australia marks the start of his international career. He also held positions as Executive Vice President for MSD in Brazil and Executive Director for Merck AgVet division responsible for the operations based in Australia, New Zealand, Japan, Canada, South Africa and South East Asia. In 1994, Mr. Cottone joined Mallinckrodt Inc. as a Senior Vice President. In 1998 he joined Sidmak Laboratories as President and CEO and was instrumental during PLIVA's acquisition of the company and the resulting integration.

Congratulating Mr. Cottone on his new appointment, Mr. Zeljko Covic, M. Sc., President of the Management Board and CEO of PLIVA d.d. emphasized: "The transformation that PLIVA is undergoing as a result of the NEW PLIVA project encompasses changes which will require a strong management team that will lead to the next stage in the company's development. The PLIVA Management Board believes that Mr. Cottone's extensive and international experience will be a great contribution to the successful implementation of changes and will help in strengthening the position of PLIVA on the global pharmaceutical market. Furthermore, the US has been identified as one of PLIVA's key markets and since the acquisition, Mr. Cottone's leadership of PLIVA, Inc. has secured notable advancements in this market."

This release contains certain "forward-looking statements", relating to the Group's business, which can be identified by the use of forward-looking terminology such as "will", "planned", "expectations", "forecast" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of new products expected to be introduced or have been introduced by the Group companies and anticipated customer demand for such products. Such statements reflect the current views of the Group with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the Group to be materially different from any future results that may be expressed or implied by such forward-looking statements.

PLIVA

PLIVA, Inc., a Specialty Pharmaceutical Company, is the result of the July 2002 acquisition of Sidmak by PLIVA d.d., Croatia, the largest pharmaceutical company in Central and Eastern Europe.

PLIVA d.d., is a unique company with investments in both research and development (R&D). With recent acquisitions of pharmaceutical and R&D companies in Poland, the Czech Republic, France, Germany, Denmark, Spain, the UK and now in the US PLIVA is in possession of more than 400 patents. Founded in 1921, PLIVA is best known for its discovery of the antibiotic azithromycin, licensed to Pfizer in the US as Zithromax*. With the development of new chemical entities (NCEs) and equivalent pharmaceutical products, including generic versions of biotech pharmaceuticals, PLIVA d.d., and PLIVA, Inc., are well positioned for sustained growth.

Zithromax is a registered trademark of Pfizer Inc.

Contact:

For PLIVA, Inc. Shannon McSweeney, 973-812-8883 Shannon@pfsmarketwyse.com www.pfsmarketwyse.com or

PLIVA, Inc. Corporate Communications: Marija Mandic, +385 1 6160 355, 6120 909 Fax: +385 1 6114 413 Marija.Mandic@pliva.hr or

Investor Relations: Ingrid Kukuljan, +385 1 6120 755 Fax: +385 1 6114 413 Ingrid.Kukuljan@pliva.hr

Source: PLIVA, Inc.