Bangalore, October 16, 2007

Ms. Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon Limited has been honoured with the 'Veuve Clicquot Initiative For Economic Development For Asia' award. The award for Economic Development was introduced for the first time in 2007. There were three Economic Development awards that went to three women from Asia (India) Latin America (Bolivia) and Africa (Algeria). This is a special award that looks beyond business success to CSR and a combined effort to bring about economic change in developing economies. Ms. Kiran Mazumdar-Shaw has been nominated as the very first winner for Asia. Ms. Shaw was presented the award at Reims, one hour away from Paris over a unique two-day function.

Started in 1972, the Veuve Cliquot Business Woman Award was created to pay lasting tribute to one of the world's greatest businesswomen, probably the very first one, Madame Clicquot. The award celebrates special women who have demonstrated undisputable business success, clear strategic vision, entrepreneurship, daring vision and unique leadership skills, providing them wide recognition within their business sector as well as the media.

Highly prized, it is the first and original award for women in business life. In its 35th year, the Award was founded to celebrate the memory of Madame Clicquot, who created the Champagne House that bears her name. Her audacity, bravery and creativity are celebrated each year, in the light of the finalists whose achievements, in their turn, present role models for women aspiring to take their place in the business world.

Past winners represent some of the most famous women in business: Dame Marjorie Scardino; Dame Anita Roddick; Ms Dianne Thompson; Mrs Ann Gloag; Ms Linda Bennett. Last year's winner was Vivienne Cox, Executive Vice President & CEO, BP Gas.

About The Veuve Clicquot Ponsardin Champagne House

The Veuve Clicquot Ponsardin Champagne House in France was founded in 1772 and bears the name of an exceptional woman ("veuve" meaning "widow" and "Ponsardin" was her maiden name who lived and ran the company in the XIXth century. The company is totally dedicated to produce this prestigious wine and promote it all over the world.

About Biocon

Established in 1978, Biocon Limited is one of India's premier biotechnology companies. Biocon and its two subsidiary companies, Syngene International Ltd and Clinigene International Ltd form a fully integrated biotechnology enterprise, specializing in biopharmaceuticals, custom research, clinical research and enzymes. With successful initiatives in clinical development, bio-processing and global marketing, Biocon delivers products and solutions to partners and customers across the globe. Many of these products have USFDA and EMEA acceptance. Biocon launched the world's first recombinant human insulin, INSUGEN^® in November 2004 using Pichia expression and India's first indigenously produced monoclonal antibody BIOMAb-EGFR^™.