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SYNTEX ANNOUNCES ALL EMPLOYEE STOCK OPTION PLAN

 SYNTEX ANNOUNCES ALL EMPLOYEE STOCK OPTION PLAN
 PALO ALTO, Calif., May 21 /PR Newswire/ -- Syntex Corp. (NYSE: SYN) has awarded its approximately 11,000 employees around the world a one-time stock option grant to buy 100 shares of Syntex stock.
 The award is available to everyone employed by Syntex on May 20, 1992, except executive officers. It allows those employees to purchase Syntex stock at the stock option price of $43.625 -- the average of the high and the low price of Syntex stock on the New York Stock Exchange on May 20 -- after a four-year waiting period. The option may be exercised anytime between May 20, 1996, and May 20, 2002, provided the employee still works at Syntex or retires from Syntex after May 20, 1992. Employees stand to profit from any increase in Syntex's stock price over the option price, thereby sharing in the company's future success along with other shareholders. In the most recent five-year period, fiscal 1987 through 1991, the value of Syntex stock increased an average of 20 percent a year.
 "We hope this stock option grant will help employees recognize that there is a direct connection between their performance and Syntex's long-term financial performance," said Paul E. Freiman, Syntex's chairman and chief executive officer. "We want to encourage our employees to do their very best on behalf of the company by offering them a powerful incentive: the rewards of ownership."
 -0- 5/21/92
 /CONTACT: Marcie Lynn Smith, 415-855-5051, or Linda Thomas, 415-852-1321, both of Syntex/
 (SYN) CO: Syntex Corp. ST: California IN: MTC SU:


MM -- SJ004 -- 2884 05/21/92 13:20 EDT
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Date:May 21, 1992
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