Mr. Joaquin Viso and Ms Olga Lizardi Terminate the Voting Agreement and the Stockholders' Representative Agreement



    SAN JUAN, May 5 /CNW/ - TSX:PTI - Mr. Joaquin Viso and Ms Olga Lizardi
announced today that the voting agreement (the "Voting Agreement") dated March
10, 2009 between Mr. Viso, Ms Lizardi, Mr. Jose A. Negroni, Ms Lorraine
Hernandez and Ms Aida Garcia (collectively, the "Stockholders") and JLL
Patheon Holdings, LLC and JLL Patheon Holdings II, LLC was terminated
effective April 16, 2009. The termination of the Voting Agreement puts the
parties to that agreement back in the same position they were in prior to
entering the agreement. As a consequence to the termination of the Voting
Agreement, the stockholders' representative agreement dated March 10, 2009
between each of the Stockholders pursuant to which, among other things, Mr.
Viso was appointed as the lawful agent and representative of such Stockholders
in respect of their restricted voting shares (the "Restricted Voting Shares")
of Patheon Inc. ("Patheon") was automatically terminated effective April 16,
2009 in accordance with its terms.
    Mr. Viso and Ms Lizardi currently own and control 10,824,053 Restricted
Voting Shares, representing approximately 12.0% of such class of security on
an unconverted basis. The Restricted Voting Shares were originally acquired by
Mr. Viso and Ms Lizardi for investment purposes as part of the consideration
received by them from Patheon for the shares of a private company. They may
increase or decrease their ownership of Restricted Voting Shares, whether in
the open market, by privately negotiated agreements, or otherwise.
    This press release is issued pursuant to National Instrument 62-103 - The
Early Warning System and Related Take-Over Bid and Insider Reporting Issues,
which requires an early warning report to be filed on SEDAR (www.sedar.com)
containing additional information with respect to the foregoing matters.

    %SEDAR: 00001700E




For further information:

For further information: To obtain a copy of the early warning report
you may visit SEDAR or contact Ryan Szainwald at (416) 849-6892

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MR. JOAQUIN VISO AND MS OLGA LIZARDI

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