Lyon, France, June 30, 2005—The general meetings of Boiron and Dolisos have approved today all resolutions related to the proposed merger of Dolisos with and into Boiron, and notably the parity of 1.97514 Dolisos shares for 1 Boiron share.

The conditions outlined in the merger treaty are completed and the merger is now effective.

The Boiron Company has issued 3,334,286 new shares for the benefit of the shareholders of Dolisos to be listed on July 5, 2005. The number of shares has consequently risen from 18,672,000 to 22,006,286.

Furthermore, The Boiron General Meeting has appointed two new directors for a three year period: Pierre Fabre SA and Mr. François Marchal.

The merger is intended to allow the Group to:

• Significantly increase research investments
• Develop the prescription of homeopathic medicines by all physicians, general practitioners or specialists in their general practice, and in hospitals in France and abroad
• Allow all pharmacists to integrate the counseling of homeopathic medicines in their daily practice
• Enhance the assets of homeopathy vis-à-vis public authorities, not only from a therapeutic and economic point of view, but also in terms of health policy
• Accentuate the promotion of OTC specialties
  

Boiron and Laboratoires Dolisos have prepared a prospectus (Schéma E) registered with the French Autorité des marchés financiers under reference number E.05-082 and dated June 1, 2005, and accompanied with a notice, which constitutes an annex to the reports of both the board of directors of Boiron and the surveillance council of Dolisos presented to the general meetings of Boiron and Dolisos that will vote on the merger of Dolisos with and into Boiron. This prospectus contains information on the merger and its consequences, and establishes in view of the listing on the Eurolist Euronext Paris of the shares to be issued in the context of the merger.

Financial Markets Authority (AMF) notice

“The Financial Markets Authority draws the attention of the public to the conclusions of the Merger auditor in its reports shown in Appendix I (assessment of the contribution value) and Appendix II (payment for contributions) of Document E.”