Bausch & Lomb Completes Acquisition of Shandong Chia Tai Freda Pharmaceutical Group.

ROCHESTER, N.Y. -- Bausch & Lomb (NYSE:BOL) has completed the previously announced acquisition of a controlling interest in Shandong Chia Tai Freda Pharmaceutical Group (CTF), the leading ophthalmic pharmaceutical company in China, from Sino Biopharmaceutical Ltd. (HKSE: 1177.HK) for $200 million in cash.

The acquisition will accelerate Bausch & Lomb's expansion into the rapidly growing ophthalmic pharmaceuticals market in China and provide Bausch & Lomb with a national pharmaceuticals sales and distribution network, strong domestic brands, a GMP-certified manufacturing facility, and expertise in regulatory affairs and product development.

The leader in the China ophthalmic pharmaceuticals market, CTF primarily develops, manufactures and markets medications used to treat ocular inflammation and infection, glaucoma and dry eye. In 2004, CTF recorded sales of US$62 million. Headquartered in the city of Jinan in Shandong Province, CTF has roughly 1,300 employees.

The transaction is projected to be essentially neutral to 2005 earnings per share, five-to-10-cents-per-share accretive in 2006, and 10-to-15-cents-per-share accretive in 2007, excluding transaction-related costs and customary one-time purchase-accounting adjustments that may be recorded.

This news release contains, among other things, certain statements of a forward-looking nature relating to future events or the future business performance of Bausch & Lomb. Such statements involve a number of risks and uncertainties including, without limitation, those concerning global and local economic, political and sociological conditions, and the effect on economic, commerce, social and political systems caused by natural disasters (such as, without limitation, earthquakes, hurricanes/typhoons, tornadoes and tsunamis), currency exchange rates, government pricing changes and initiatives with respect to healthcare products, changes in laws and regulations relating to the Company's products and the import and export of such products, product development and rationalization, enrollment and completion of clinical trials, the ability of the Company to obtain regulatory approvals, the outcome of litigation, the ability of the Company to launch products within planned timeframes, the success of product introductions, the financial well-being of key customers, development partners and suppliers, the successful execution of marketing strategies, the continued successful implementation of the Company's efforts in managing and reducing costs and expenses, the Company's success in introducing and implementing its enterprise-wide information technology initiatives, including the corresponding impact on internal controls and reporting, the Company's success in the process of management testing, including the evaluation of results, and auditor attestation of internal controls (as required under the Sarbanes-Oxley Act of 2002), the continued successful execution of the Company's profitability improvement plans, continued positive relations with third party financing sources, as well as the risk factors listed from time to time in the Company's SEC filings, including but not limited to, the current report on Form 8-K dated June 14, 2002 and the Form 10-Q for the quarter ended June 25, 2005.

Bausch & Lomb is the eye health company, dedicated to perfecting vision and enhancing life for consumers around the world. Its core businesses include soft and rigid gas permeable contact lenses and lens care products, and ophthalmic surgical and pharmaceutical products. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. Founded in 1853, the Company is headquartered in Rochester, New York. Bausch & Lomb's 2004 revenues were $2.2 billion; it employs approximately 12,400 people worldwide and its products are available in more than 100 countries. More information about the Company can be found on the Bausch & Lomb Web site at www.bausch.com. Copyright Bausch & Lomb Incorporated.