Dr Reddy Laboratories : D17 01.30 PR

Press Release

Dr. Reddy's Laboratories Limited invests in Perlecan Pharma Private Limited by acquiring shares of Joint Venture Partners

Hyderabad, India, July 30, 2008:

Dr. Reddy's Laboratories Ltd. (NYSE: RDY) today announced that it has purchased the equity holding of Citigroup Venture Capital International Mauritius Limited (CVCIML), its nominees and IDBI Trusteeship Services Limited (the merged entity after its merger with The Western India Trustee and Executor Company Limited) in Perlecan Pharma Private Limited.

The Board of Directors of Dr. Reddy's Laboratories Limited at their meeting held earlier on July 21, 2008 had approved this proposal aggregating to USD 18 Million. Consequent to this investment, Perlecan Pharma Private Limited would become a subsidiary of Dr. Reddy's Laboratories Limited.

Disclaimer

This press release includes forward-looking statements, as defined in the U.S. Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current expectations and projections about future events. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such factors include, but are not limited to, changes in local and global economic conditions, our ability to successfully implement our strategy, the market acceptance of and demand for our products, our growth and expansion, technological change and our exposure to market risks. By their nature, these expectations and projections are only estimates and could be materially different from actual results in the future.

About Dr. Reddy's

Established in 1984, Dr. Reddy's Laboratories (NYSE: RDY) is an emerging global pharmaceutical company with proven research capabilities. The Company is vertically integrated with a presence across the pharmaceutical value chain. It produces finished dosage forms, active pharmaceutical ingredients and biotechnology products and markets them globally, with focus on India, US, Europe and Russia. The Company conducts research in the areas of diabetes, cardiovascular, anti-infectives, inflammation and cancer.www.drreddys.com

For more information please contact:

Investors and Financial Analysts:

Nikhil Shah [e-mail] or on [phone]

Media:

M Mythili [e-mail] or on [phone].