Banner Announces New CEO

HIGH POINT, NCBanner Pharmacaps, a leading global innovator of drug delivery technology and proprietary health care products, announced that Dr. Roger E. Gordon, president of Banner, was appointed Chief Executive Officer, effective February 1, 2004. He succeeds Dr. James W. Warren, Jr. in this position. Peter Beckers, vice-chairman of Sobel, Banner’s parent company, was appointed chairman of the board of directors for Banner effective January 1, 2004.

Dr. Gordon joined Banner in 1999 as senior vice president of R&D and has steadily progressed within the company. As president of Banner, Dr. Gordon was responsible for global commercial development worldwide. Prior to that, he was president of the United States region including Commercial, Product Development, Technical Operations, Finance, and Human Resources. As CEO, Dr. Gordon will be responsible for all global operations for Banner, and will continue to aggressively pursue the strategic direction of transforming Banner into a global drug delivery and proprietary health care products company.

Peter Beckers has served as a member and later on as a vice chairman of Sobel NV since 2001. As the chairman of Banner’s board of directors, Becker’s presence will provide Banner greater access to Sobel’s resources for continued growth in global markets. Sobel, Banner’s parent company, operates three internationally active divisions employing a total workforce of more than 4,700 and a yearly revenue of approximately EURO 700 Million (USD 850 Million). The three divisions operate in different industry segments—natural organic products (Rendac, Sonac), gelatin products (Rousselot) and healthcare products (Banner)—and all have positioned themselves to be among the market leaders in their respective sectors. Sobel is headquartered in Best, The Netherlands, and is part of the non-listed Dutch multinational Best Agrifund with revenue of about EURO 6.0 Billion (USD 7.2 Billion) and more than 15,000 employees.

Banner is a global company that researches, develops, and manufactures drug delivery technologies and proprietary healthcare products. With state-of-the-art, FDA-approved manufacturing facilities and significant investment in research and development, Banner provides innovative oral delivery solutions and unique products to the health care industry worldwide. A wholly owned subsidiary of Sobel N.V., Banner has operations in the United States, Canada, Europe, Latin America and Asia-Pacific.

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