Taro to Defer Annual General Meeting to September 12, 2013

Taro Pharmaceutical Industries Ltd. TARO (“Taro” or the “Company”) announced today that the Company has deferred its upcoming annual general meeting of shareholders (the “Annual General Meeting”), originally scheduled for September 9, 2013, to September 12, 2013. The deferred meeting will include on its agenda two additional nominees to serve as external directors of the Company. These nominees were added at the request of a minority shareholder, Blue Mountain Capital Management, LLC. The Taro Board of Directors reaffirms its support of the Company's current external directors, Mrs. Ilana Avidov Mor and Mr. Dan Biran, and its position that they are eminently qualified and have been an integral part of the Board's oversight of the financial and operational success of the Company over the last three years. The Company will issue a revised proxy statement for the deferred Annual General Meeting, which will be held on September 12, 2013, at 10:00 a.m. (Israel time), at the offices of the Company, Euro Park, Italy House, Yakum, Israel.