PAREXEL International Completes Acquisition of APEX International Clinical Research Co., Ltd.


- Acquisition Strengthens PAREXEL's Leadership Position in the Asia-Pacific Region -

BOSTON, Sept. 26 / -- PAREXEL International Corporation (NASDAQ:PRXL), a leading global biopharmaceutical services organization, today announced the successful completion of the acquisition of Taiwan-based APEX International Clinical Research Co., Ltd. ("APEX"). The acquisition strengthens PAREXEL's global capabilities, providing clients with a wide range of clinical research service offerings throughout the Asia- Pacific region, including mainland China, Hong Kong, India, Taiwan, Singapore, Indonesia, South Korea, Malaysia, Thailand, the Philippines, New Zealand, and Australia.

PAREXEL (Taiwan), Inc., a wholly owned subsidiary of PAREXEL, initiated a Tender Offer on June 29, 2007 to purchase all of the issued and outstanding shares of common stock of APEX. On September 7, 2007, the Tender Offer closed and PAREXEL acquired 20.3 million shares of common stock of APEX, representing 93.9% of APEX's total issued and outstanding shares. Pursuant to the terms of the Tender Offer, the Company paid New Taiwan Dollars (NT) of $82.94 or U.S. Dollars (USD) of approximately $2.51 for each APEX share of common stock tendered, for a total purchase price of approximately NT $1.7 billion, which equates to USD of approximately $50.9 million. The name of the new entity is PAREXEL APEX International.

Four years ago PAREXEL purchased a minority interest in APEX after conducting a considerable amount of due diligence to ensure that the company's programs and standards met PAREXEL's rigorous quality guidelines. During this time, APEX established a strong track record of success, carrying out numerous clinical studies with PAREXEL.

"The Asia-Pacific region is becoming increasingly important and attractive for a wide range of clinical development activities," stated Josef von Rickenbach, Chairman and Chief Executive Officer of PAREXEL International. "Several factors are driving client demand for clinical research services in the Asia-Pacific region including established and sophisticated healthcare systems in many countries, the availability of highly trained professionals, and attractive end markets for biopharmaceutical products. We believe that the acquisition of APEX is of great strategic value, and combined with PAREXEL's existing presence in Japan, India, and Australia, will make PAREXEL a formidable competitor and one of the leading providers of biopharmaceutical services in the Asia-Pacific region."

Mr. von Rickenbach continued, "Our long-term alliance with APEX and subsequent acquisition reinforces our commitment to providing high quality clinical development services in the Asia-Pacific region. By fully integrating APEX into PAREXEL's global operations, we will enhance our ability to help clients more quickly achieve their goals of bringing important therapies to patients not only in the Asia-Pacific region, but also throughout the rest of the world."

"Our diverse client base will greatly benefit from the combination with PAREXEL, which will provide a broader global scope and the ability to offer a wider array of capabilities for clinical programs," said Albert Liou, founder of APEX and newly-appointed Corporate Vice President and General Manager of PAREXEL APEX International. "The APEX team is eager to combine PAREXEL's deep experience in clinical development with APEX's extensive knowledge of medical and clinical development practices and approaches that are specific to the Asia-Pacific region."

Through the acquisition of APEX, PAREXEL augments its service offering with additional capabilities in key areas, including:

o Good Clinical Practice (GCP)-compliant services, especially in late
phases of clinical development, in 11 Asia-Pacific countries, including
China and several other emerging geographies
o Clinical and regulatory experts with local experience
o Medical expertise and access to patient populations across a wide range
of complex and important therapeutic areas, including cardiology,
rheumatology, endocrinology, oncology, infectious disease, and
neurology

PAREXEL APEX International will host an Opening Ceremony on October 4, 2007 in Taiwan for clients and government officials to celebrate the combination of PAREXEL and APEX. Guest speakers will include Josef von Rickenbach, Albert Liou, and local dignitaries.

About PAREXEL

PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, medical communications and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. Perceptive Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 65 locations throughout 51 countries around the world, and has approximately 7,000 employees. For more information about PAREXEL International visit www.PAREXEL.com.

Investor Contact:

PAREXEL International
Jill Baker, Vice President of Investor Relations
Tel: + 781-434-4118
Email: Jill.Baker@PAREXEL.com

Media Contacts:

PAREXEL International
Jennifer Baird, Director of Public Relations
Tel: +781-434-4409
Email: Jennifer.Baird@PAREXEL.com

SHIFT Communications
Rebecca Passo
Tel: +617-779-1817
Email: rpasso@shiftcomm.com

FCMN Contact: ruth.hannon@parexel.com

Source: PAREXEL International Corporation

Web site: http://www.parexel.com/

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