Aceto Corporation Expands Chinese Headquarters.

LAKE SUCCESS, N.Y. -- Aceto Corporation (Nasdaq:ACET), a global distributor of chemically-derived pharmaceuticals, biopharmaceuticals, specialty chemicals and agrochemicals, today announced that its wholly-owned subsidiary, Aceto (Hong Kong) Limited, entered into an agreement to purchase an entire floor of office space totaling approximately 1,300 gross square meters in Shanghai, China that will house Aceto's Chinese corporate headquarters. The new space, which is expected to be completed in March 2005, represents an increase of four times from Aceto's current Shanghai office space nearby.

The Company currently employs 24 people in Shanghai, all of whom are Chinese, and plans to initially expand the staff by at least 10%.

The purchase price for the office space is approximately $2.9 million, of which approximately $1.7 million was paid upon execution of the agreement, approximately $0.9 million will be paid on December 20, 2004 and the balance will be paid on March 20, 2005.

ABOUT ACETO

Aceto Corporation, which was incorporated in 1947, is a global leader in the distribution and marketing of biopharmaceuticals, chemically-derived pharmaceuticals, specialty chemicals and agrochemicals used principally as raw materials in the agricultural, color, pharmaceutical, surface coating/ink and general chemical consuming industries. With offices in ten countries, Aceto Corporation distributes over 1,000 chemicals in these and other fields.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. All forward-looking statements in this press release are made as of the date hereof, and the Company assumes no obligation to update these forward-looking statements whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. These uncertainties include, but are not limited to, the completion of Aceto's office space in China and the ability to hire additional staff, as well as other risks detailed in the Company's SEC reports, including the Company's Form 10-K and other filings. Copies of these filings are available at www.sec.gov.