ASINEX LTD. AND RECORDATI S.P.A. ANNOUNCE AN INTEGRATED DRUG DISCOVERY PROJECT

Milan, 19 October 2004 – ASINEX Ltd, a worldwide leader in lead generation and lead optimization, and Recordati S.P.A., announce an integrated drug discovery collaboration in the area of micturition disorders.

The first phase of the collaboration consists of the design by ASINEX of several unique new chemical structures and the creation of a library of new candidate compounds for the potential treatment of overactive bladder . The second phase will be the synthesis of these structures, which will be followed by a final round of optimization. ASINEX’s aim is to provide Recordati, to whom all intellectual property rights will belong, with  patentable candidate series.

Avi Sartani, VP Pharmaceutical R&D and Licensing at Recordati said, “The collaboration with Asinex allowed Recordati to select new chemical structures of interest for its drug discovery programs. The collaboration is now continuing with the synthesis of new lead compounds, that will be tested in our laboratories. We are looking forward to continuing the collaboration with ASINEX all the way through to candidate selection and optimization”.

Dmitry Genis, ASINEX’s CEO stated, “We are very pleased to announce the success of our first integrated drug discovery project, and are delighted that Recordati has decided to enlarge the collaboration to the library synthesis and optimization stage. Once again, ASINEX’s technology platform has proved to be a creative tool to design unique small molecules drug candidates for protein targets. We are determined to provide Recordati with a high value set of lead compounds and to establish a long-term relationship”.

About ASINEX

ASINEX (www.asinex.com) is a full-service chemistry provider of 'Intelligent Chemistry' for the lead generation and optimization stage of drug discovery. Well known as a supplier of diverse, small molecule libraries for screening and building blocks for combinatorial chemistry, ASINEX has developed a reputation for cost-effective and efficient Lead Optimization, Custom Synthesis and Focused Library Generation. Based in Moscow, with a total of 122 chemists (54 Ph.D.), 9 computational chemists (7 Ph.D.) and 38 biologists / pharmacologists (24 Ph.D.). ASINEX is a powerful drug discovery resource.

ASINEX Contact

Andrea Altieri

European Business Development

ASINEX Ltd

5 Gabrichevskogo St. Bldg 8,

Moscow 123367, Russia

Tel +7 095 780 34 11 ext 2306

aaltieri@asinex.com

About Recordati

Recordati (www.recordati.com), established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003074447), dedicated to the research, development, manufacturing and marketing of pharmaceuticals and pharmaceutical chemicals, with headquarters in Milan, Italy and operating subsidiaries in France, Ireland,  Spain, Switzerland and the United States.

Communications                          Investor Relations                          (39)0248787576                          Marianne Tatschke

e-mail: comimagen@recordati.it    (39)0248787393                                              e-mail: inver@recordati.it

Claudio Rossetti (Echo Comunicazione d’Impresa)  

 (39)028056134

e-mail:  crossetti@echocom.it 

Statements contained in this release, other than historical facts, are "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best estimates, and on assumptions believed to be reasonable. This information, these estimates and assumptions may prove to be incomplete or erroneous, and involve numerous risks and uncertainties, beyond the Company’s control. Hence, actual results may differ materially from those expressed or implied by such forward-looking statements.

All mentions and descriptions of Recordati products are intended solely as information on the general nature of the company’s activities and are not intended to indicate the advisability of administering any product in any particular instance.