Impax Laboratories Inc.

Charles Hsiao, Ph.D. has been Chairman and a Director of the Company since December 14, 1999. Since January 1, 2004, Dr. Hsiao has also been leading IMPAX Technologies, a division of IMPAX Laboratories, Inc. In addition, Dr. Hsiao was Co-Chief Executive Officer of the Company from 1999 to 2003. Dr. Hsiao co-founded Impax Pharmaceuticals, Inc. in 1994, and served as its Chairman, Chief Executive Officer and a Director from its inception. Dr. Hsiao co-founded IVAX Corporation in 1986 with two partners. By October 1994, when he left the Vice-Chairman position at IVAX, this company had become the world's largest generic pharmaceutical company with approximately 7,000 employees and $1 billion in worldwide sales. Dr. Hsiao's technical expertise is in the area of formulation and development of oral controlled-release dosage forms. Dr. Hsiao obtained his Ph.D. in pharmaceutics from the University of Illinois.

Leslie Z. Benet, Ph.D . has been a Professor since 1969 of, and has also served as Chairman of, the Department of Biopharmaceutical Sciences, University of California, San Francisco. Dr. Benet has since 1995 been Chairman, President or Chief Executive Officer of AvMax Inc., a biopharmaceutical company. He received his A.B. (English), B.S. (Pharmacy), and M.S. from the University of Michigan, and his Ph.D. from the University of California. Dr. Benet has received six honorary doctorates: Uppsala University, Sweden (Pharm.D., 1987); Leiden University, The Netherlands (Ph.D., 1995); University of Illinois at Chicago (D.Sc., 1997); Philadelphia College of Pharmacy and Science (D.Sc., 1997); Long Island University (D.Sc., 1999); and University of Athens (Ph.D., 2005). Dr. Benet s research interests, more than 470 publications, and 11 patents are in the areas of pharmacokinetics, biopharmaceutics, drug delivery, and pharmacodynamics. He is listed among the 250 most highly cited pharmacologists worldwide. In 1985, Dr. Benet served as President of the APhA Academy of Pharmaceutical Sciences. During 1986, Dr. Benet was a founder and first President of the American Association of Pharmaceutical Scientists (AAPS). In 1987, Dr. Benet was elected to membership in the Institute of Medicine (IOM) of the National Academy of Sciences. Dr. Benet has received the highest scientific awards of AAPS (1989 and 2000), Rho Chi (1990), American Association of Colleges of Pharmacy (1991), American Society for Clinical Pharmacology and Therapeutics (1995), American Pharmaceutical Association (2000), International Pharmaceutical Federation (2001) and in 2004 received the Pharmaceutical Sciences World Congress Research Achievement Award and the Controlled Release Society Career Achievement in Oral Drug Delivery Award. Dr. Benet formerly served as Chair of the FDA Expert Panel on Individual Bioequivalence and the FDA Center for Biologics Peer Review Committee, and as a member of the FDA Science Board and the Generic Drugs Advisory Committee. Dr. Benet presently serves as a member of the IOM Forum on Drug Discovery, Development and Translation.

Mr. Terreri has over 20 years of experience primarily in generic pharmaceuticals with a specialized expertise in finance. Currently he is President & CEO of CGM, Inc., a manufacturing company that he owns and operates and is responsible for all functional areas of the business. Prior to CGM, Mr. Terreri was Senior Vice President and Chief Financial Officer of Teva Pharmaceuticals USA from 1985 to 2000 where he actively participated in the growth of Teva from a $20 million local generic pharmaceutical company into a global leader in generic pharmaceuticals. As an active member of senior management, he was involved in all facets of decisions within Teva, including structuring and negotiating company and product acquisitions, participating in multiple public financings, and securing several licensing deals and a substantial credit line. In addition to his role as CFO, Mr. Terreri contributed to many areas related to the Company's success outside of finance, including product development selection, facility utilization, business development, strategic planning and implementing integration plans for the Company's acquisitions. He also supervised areas such as operations, sales and marketing, and information technology during his tenure.

Bob Burr has been a Director of the Company since August 1999. Mr. Burr has been a Partner of Windcrest Discovery Investments LLC, an investment management firm, from its inception in February 2002 and since October 2001 has a consulting agreement with J.P. Morgan Partners under which he is the lead partner of Fleming US Discovery Partners, L.P., a private equity sponsor affiliated with J.P. Morgan Chase & Co. Fleming US Discovery Partners, L.P. is the general partner of Fleming US Discovery Fund III, L.P. and Fleming US Discovery Offshore Fund III, L.P. Mr. Burr was employed by J. P. Morgan Chase & Co. from July 1995 to October 2001. From 1992 to 1995, Mr. Burr was head of Private Equity at Kidder, Peabody & Co., Inc. Previously, Mr. Burr served as the Managing General Partner of Morgan Stanley Ventures and General Partner of Morgan Stanley Venture Capital Fund I, L.P. and was a corporate lending officer with Citibank, N.A. Mr. Burr serves on the Board of Directors of Displaytech, Inc. and Impax Laboratories, Inc.