SPEEDEL ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER 2008

Reduced net loss for the period

Basel/Switzerland and Bridgewater NJ/USA, 15 May 2008 Speedel Holding Ltd. (SWX: SPPN) today announced financial results for the three months ending 31 March 2008.

Financial Highlights

  * CHF 2.2 million recognised as estimated revenues for Q1 2008 from
    sales of SPP100/Aliskiren (Tekturna/Rasilez®)[1][1] by Novartis
  * Reduced operating expenses: CHF 14.1 million in Q1 2008
  * Liquid assets of CHF 94.5 million as of 31 March 2008

Konrad P. Wirz, Chief Financial Officer, commented: "We are pleased to note that SPP100/Aliskiren (Tekturna/Rasilez®)[1] sales grew substantially over the last two quarters. Due to the U.S. Dollar exchange rates our corresponding revenues in CHF do not entirely reflect the increase of this positive sales development."

Financial Key Data [i] (CHF million)

+-------------------------------------------------------------------+
|                                  |   Q1 2008 |   Q1 2007 | Change |
|----------------------------------+-----------+-----------+--------|
| Revenues [ii]                    |       2.2 |       0.0 |   +2.2 |
|----------------------------------+-----------+-----------+--------|
| Research & Development           |    (11.4) |    (11.6) |   +0.2 |
|----------------------------------+-----------+-----------+--------|
| General & Administration         |     (2.7) |     (3.4) |   +0.7 |
|----------------------------------+-----------+-----------+--------|
| Total                  operating |    (14.1) |    (14.9) |   +0.8 |
| expenses                         |           |           |        |
|----------------------------------+-----------+-----------+--------|
| Operating loss                   |    (11.9) |    (14.9) |   +3.0 |
|----------------------------------+-----------+-----------+--------|
| Finance costs, net               |     (1.0) |     (0.1) |   -0.9 |
|----------------------------------+-----------+-----------+--------|
| Taxes                            |       0.0 |       0.0 |        |
|----------------------------------+-----------+-----------+--------|
| Loss for the period              |    (12.9) |    (15.0) |   +2.1 |
|----------------------------------+-----------+-----------+--------|
| Basic   &   diluted   loss   per |    (1.66) |    (1.96) |  +0.30 |
| share/CHF [iii]                  |           |           |        |
|----------------------------------+-----------+-----------+--------|
|                                  |           |           |        |
|----------------------------------+-----------+-----------+--------|
| Cash-burn [iv]                   |      15.2 |      14.9 |   +0.3 |
|----------------------------------+-----------+-----------+--------|
|                                  |           |           |        |
|----------------------------------+-----------+-----------+--------|
|                                  | 31 Mar 08 | 31 Dec 07 | Change |
|----------------------------------+-----------+-----------+--------|
| Liquid assets [v]                |      94.5 |     107.9 |  -13.4 |
+-------------------------------------------------------------------+

Footnotes i-v can be found on last page of this press release. Consolidation is based on IFRS, but these results for the period are unaudited. Complete financial statements and notes for the 3 months ending 31 March 2008 can be accessed at http://www.speedel.com/section/6/subsections/4 .

Revenues

Accrued revenues reflect management's best estimate regarding royalty income on global net sales of SPP100/Aliskiren (Tekturna/Rasilez®)[1] by Novartis and compensation from Novartis for reduced manufacturing costs of SPP100, using the chemical synthesis route developed by Speedel and licensed to Novartis in 2002. This Q1 estimate is subject to revision once Speedel has received the Q1 2008 royalty report from Novartis.

Research & Development Expenses

R&D expenses decreased by CHF 0.2 million for the first quarter 2008 compared to the corresponding period in 2007. Two factors partially offset each other: expenses for SPP301 decreased significantly, whereas investments in our next generation renin inhibitor programmes increased - both in clinical development (SPP635 in Phase IIa, SPP1148 Phase I, SPP676 Phase I) and in research.

General & Administration Expenses

G&A expenses decreased by CHF 0.7 million for the first quarter 2008 compared to the first quarter in 2007, mainly due to less non-cash expenses for new share options granted to staff.

Finance Costs, net

Net finance costs increased by CHF 0.9 million for the first quarter 2008 compared to the same period of 2007. This difference mainly mirrors exchange losses on U.S. Dollar positions and higher expenses for the convertible bond issued end of January 2007.

Net loss

The reduced net loss for the period under review arises mainly from the increase in recognised revenues from SPP100/Aliskiren.