Fagron N.V. — Earnings Release 2011

Apr 8, 2011

Press Release Regulated information | Trading update 1st quarter 2011

ARSEUS REALISES TURNOVER GROWTH OF 15% REALISES TURNOVER STRONG ORGANIC GROWTH AT CORILUS AND FAGRON ORGANIC GROWTH AT CORILUS

Waregem (Belgium) / Rotterdam (the Netherlands)¹ , 8 April 2011 – In the first quarter of 2011, the consolidated turnover of Arseus increased 15.0% to € 111.3 million. Organic growth was 3.2%.

x 1,000 euros	Q1 2011	Q1 2010	Total growth	Org. growth
Fagron	51,323	38,633	+32.8%	+8.2%
Arseus Dental	39,315	38,423	+2.3%	+0.1%
Arseus Medical	12,502	12,632	-1.0%	-6.5%
Corilus	8,205	7,103	+15.5%	+4.6%
Total	111,345	96,791	+15.0%	+3.2%

The evolution of turnover2 per division is as follows

Ger van Jeveren, CEO of Arseus: 'Arseus had a good start of 2011 with turnover growth of 15.0% and organic growth of 3.2%. All divisions of Arseus laid a solid foundation for growth by continuous investments in innovation and product development. This press release explains a number of these innovations.

In the first quarter, the integration of the Brazilian DEG and the Belgian Devroe, both acquired in December, was successfully completed. I am enthusiastic about the many benefits and possibilities that these acquisitions offer for our clients and our employees.

In 2011 Fagron wants to further strengthen its worldwide market leadership in the rapidly growing market for pharmaceutical compounding. Add-on acquisitions in existing markets are being considered for Arseus Dental, Arseus Medical and Corilus as suitable opportunities arise. We look to the future with confidence and consequently confirm the expectations for 2011 that we announced earlier.'

¹ This press release was sent out by Arseus NV and Arseus BV.

² Unaudited management figures.

Fagron

Fagron's turnover increased 32.8% in the first quarter. Organic growth was 8.2%. Fagron's persistently strong turnover growth is due to the successful revitalisation of pharmaceutical compounding to fulfil the growing worldwide need for tailor-made medication. Fagron continuously invests in innovation and the development of new concepts and products for pharmaceutical compounding. The first quarter of 2011 proved that the combined product range created by the successful integration of the American Gallipot and the Brazilian DEG had already resulted in great advantages.

In 2011 Fagron wants to further strengthen its market leadership in the rapidly growing market for pharmaceutical compounding through robust organic growth and a focused buy-and-build strategy. The emphasis in Europe is on acquisitions in the existing markets, and in Scandinavia and Central and Eastern Europe. Fagron is also looking for acquisition possibilities in North America and Latin America in order to further strengthen Fagron's market positions in these regions.

Arseus Dental

Arseus Dental's turnover increased 2.3% in the first quarter of 2011. Organic growth was 0.1%.

The activities focused on dental practices were further integrated in the first quarter. The emphasis here was on the strategic structuring of product portfolios and the introduction of total solutions that increase efficiency. Arseus Dental's concepts for structuring dental practices that have been successful in the Netherlands and Belgium will soon be introduced in Germany and France. With strong A brands in combination with 3D imaging equipment, intra-oral sensors from OwandyTM and practice management software from JulieTM and BaltesTM, all developed inhouse, Arseus is excellently positioned to profit from the increasing digitalisation in the dental world.

In Arseus Dental's technological activities, the emphasis was on the introduction of innovative technology that improves the quality, efficiency and effectiveness of both dental laboratories and dentists. In the first quarter, the Ceka-Preciline attachments product range was further expanded and the private quality brand Selexion was introduced to the international dental market during the IDS dental trade fair in Cologne. Selexion includes a wide range of products that are used daily by dental laboratories.

Arseus Medical

In the first quarter of 2011, the focus at Arseus Medical was on simplifying its market approach and expanding its range of high value-added solutions. Arseus Medical saw growth of -1.0% in the first quarter. Organic growth was -6.5%. Despite the negative organic growth, Arseus Medical has a solid pipeline of innovative products and solutions with substantial added-value that constitute the basis for future growth.

The 'Surgery to Sterilization' concept ('S2S') offers total solutions for surgery and sterilisation departments in hospitals and concentrates on improving the efficiency, traceability and quality in instrument and implant management. The activities of Devroe Instruments, acquired at the end of 2010, and the surgery and sterilisation activities of Arseus Medical have been brought together and integrated under the name Arseus Devroe. Arseus Medical also strengthened its position in

endoscopic surgery with the introduction of tailor-made packages of surgical instruments at Duo-Med.

Corilus

Corilus managed to continue its strong organic growth from 2010 into the first quarter of 2011. Turnover increased by 15.5%. Organic growth was 4.6%. This growth was realised by further strengthening its market leadership in Belgium and the successful international roll-out of medical software.

Corilus started the sale of high qualitative measuring equipment from Nidek in cooperation with Arseus Medical. This enables it to offer total solutions to opticians. Corilus entered into a partnership with Vitalsys for telemonitoring. VitalCare is a web-based application that allows doctors to monitor patients' vital parameters remotely using software for general practitioners from Corilus.

In the first quarter of 2011, Corilus strengthened its position on the Belgian market for software for Residential Care Centres with the acquisition of the Belgian company CMS. As a result of this acquisition, Corilus can quickly respond to and profit from the consolidation trend among Residential Care Centres. An additional advantage is that Corilus can directly integrate its Infiplus software for home care nurses with CMS's GERACC software for Residential Care Centres. This enables it to respond to the important development that Residential Care Centres are increasingly cooperating with home care.

Exercise of warrants / Development in treasury shares

On 18 February 2011, Arseus issued 1,018 new shares as a result of the exercise of warrants under the Warrant plan of the Offer. These newly issued shares are entitled to dividend as of the 2011 financial year. Consequently, until close of trading on 10 May 2011, these 1,018 newly issued shares will be listed on a separate line at NYSE Euronext (ISIN code BE0380320805). The number of Arseus shares with voting rights is 31,196,139. The total number of voting rights (denominator) is 31,196,139. The authorised capital is € 319,820,911.43.

As of 31 December 2010, Arseus owned 1,300,585 treasury shares. The acquisition of the Belgian CMS was partially financed with treasury shares. As a result, the number of treasury shares decreased. At 31 March 2011, the number of treasury shares totalled 1,105,585.

Outlook³

Based on the current view and the existing Arseus portfolio, Arseus' management is expecting turnover growth of between 8% and 12% in 2011, organic growth in turnover of between 3% and 6% and a recurring EBITDA that is expected to grow faster than turnover.

3/4

³ This press release contains data related to the future based on the current internal estimates and forecasts in addition to market forecasts. The statements concerning the future contain inherent risks and are only applicable on the date on which they are issued. There may be substantial differences between the actual results and the results cited in the statements about the future.

Conference call

Ger van Jeveren (CEO) and Jan Peeters (CFO) will provide further details on the trading update for the first quarter of 2011 during a conference call scheduled for today. The conference call starts at 9:30 CET. You can join from 9:15 onwards by calling +31 10 713 72 95 (the Netherlands) or +32 24 04 03 34 (Belgium).

For additional information:

Constantijn van Rietschoten Director of Corporate Communications +31 88 33 11 222 (office) +31 6 536 91 585 (mobile) constantijn.van.rietschoten@arseus.com

Arseus profile

Arseus is a multinational group of companies that supplies products, services and concepts to professionals and institutions in the healthcare sector in Europe, the United States and Brazil. Arseus is subdivided into four divisions and operates in the markets for pharmaceutical compounding for pharmacies, dental products, medical and surgical products, and medical ITsolutions. The Belgian company Arseus NV is located in Waregem, and is listed on NYSE Euronext Brussels and NYSE Euronext Amsterdam. The operational activities of the Arseus group are driven by the Dutch company Arseus BV. The head office of Arseus BV is located in Rotterdam.

In the event of any discrepancy between the English translation and the original Dutch version of this press release, the latter shall prevail.