QVT Supports Alternative Restructuring Plan for FCCB Default by Wockhardt

Without Prejudice

MUMBAI, India, February 22, 2010 - QVT Advisors Private Limited ("QVT") today said it supports on a without
prejudice basis the restructuring plan proposed on behalf of the holders of
the USD 110 million Foreign Currency Convertible Bonds ("Defaulted Bonds") of
Wockhardt Limited (the "Company" or "Wockhardt") and submitted to the
Corporate Debt Restructuring ("CDR") Cell, CDR lenders and the Company.

QVT believes the restructuring plan is in the best interests of Wockhardt
and all creditors of the company. QVT is disappointed that neither Wockhardt
nor the CDR lenders have engaged in a meaningful dialogue with the holders of
the Defaulted Bonds with respect to this plan.

Wockhardt is currently facing a winding up petition in the Honorable High
Court, Mumbai, as it has defaulted on its obligations under the terms of the
Defaulted Bonds. If the Company continues to ignore the efforts made by the
holders of the Defaulted Bonds to salvage the situation by restructuring the
debt in a mutually acceptable manner, the Company may remain exposed to this
winding up action, which may restrict the Company from selling its nutrition
business.

QVT looks forward to engaging in constructive dialogue with Wockhardt and
the CDR lenders and reaching an agreement that is fair to all involved.

Under the restructuring proposal, bondholders will exchange their
Defaulted Bonds for newly issued Foreign Currency Convertible Bonds (the new
"FCCBs") with a five-year maturity.

The New FCCBs will have the following terms:

    - Mandatory conversion into the Company's shares at maturity
    - Issuance at a ratio of 1.295 New FCCBs for every Defaulted Bond
    - Conversion price at a premium to the price of the Company's
      shares as on the date of maturity of the Defaulted Bonds
    - A semi-annual coupon of 5.0%

QVT believes the restructuring plan will help reduce the Company's
current debt burden and increase liquidity for the Company and its
stakeholders by freeing up additional cash. Moreover, QVT believes that the
restructuring further benefits the Company as the conversion of the new FCCBs
into equity at maturity will increase the equity base of the Company by up to
approximately USD 75 million, thereby reducing leverage and strengthening the
Company's balance sheet.

Shawn Pattison or Patrick Clifford both of The Abernathy MacGregor Group, +1-212-371-5999, for QVT, Worldwide; in India: Vikas Wadiker of Vaishnavi Corporate Communication Pvt. Ltd., Landline: +91-22-66568787, Handphone: +91-98214-30674