Savient Pharmaceuticals, Inc. Announces Results of Annual Meeting of Stockholders

Stockholders elected the following members of Savient's Board ofDirectors for a one-year term:

-- Christopher Clement, President and Chief Executive Officer, Savient Pharmaceuticals, Inc.

-- Herbert Conrad, President (retired), Roche Pharmaceuticals Division, Hoffmann La-Roche, Ltd.

-- Alan L. Heller, Investment Advisor to Water Street Capital, former Chief Executive Officer and President, American Pharmaceutical Partners, Inc.

-- Stephen O. Jaeger, President and Chief Executive Officer (retired), eBT International, Inc.

-- Joseph Klein III, Managing Director of Gauss Capital Advisors, LLC

-- Lee S. Simon, M.D., Member of the Staff of Beth Israel Deaconess Medical Center and Associate Clinical Professor of Medicine at Harvard Medical School

-- David Tendler, Partner, Tendler Beretz LLC, former Co-Chairman and Chief Executive Officer, Phibro-Solomon, Inc.

-- Virgil Thompson, President, Chief Executive Officer and Director, Angstrom Pharmaceuticals, Inc.

-- Faye Wattleton, President, Center for the Advancement of Women

Stockholders approved the amendment to the Company's 1998 EmployeeStock Purchase Plan to eliminate the Purchase Plan's expiration date.

Following the annual meeting of stockholders, the Board ofDirectors elected Stephen O. Jaeger non-executive Chairperson of theBoard.

An audio archive of the annual meeting can be accessed on SavientPharmaceutical's website on the "Events & Webcasts" page under the"Investor Relations" section at www.savientpharma.com through June 23,2006.

ABOUT SAVIENT

Based in East Brunswick, New Jersey, Savient Pharmaceuticals,Inc., is a specialty pharmaceuticals company and is engaged indeveloping, manufacturing and marketing pharmaceutical products thataddress unmet medical needs in both niche and broader markets. TheCompany's lead product development candidate, Puricase(R)(PEG-uricase), for the treatment of refractory gout has reportedpositive Phase 1 and 2 clinical data. Savient's experienced managementteam is committed to advancing its pipeline and expanding its productportfolio by in-licensing late stage compounds and exploringco-promotion and co-development opportunities that fit the Company'sexpertise in specialty pharmaceuticals and initial focus inrheumatology. Savient markets its product Oxandrin(R) (oxandrolone,USP) in the United States. The Company's subsidiary, RosemontPharmaceuticals Ltd., develops, manufactures, and markets through itsown sales force oral liquid formulations of prescription products forthe UK pharmaceutical market. Rosemont's product portfolio includesover 100 liquid formulations primarily targeting the geriatricpopulation. Puricase is a registered trademark of Mountain ViewPharmaceuticals, Inc. Further information on the Company can beaccessed by visiting: www.savientpharma.com.

FORWARD LOOKING LANGUAGE

This news release contains forward-looking statements within themeaning of Section 21E of the Securities Exchange Act of 1934. Allstatements, other than statements of historical facts, included inthis report regarding the Company's strategy, expected futurefinancial position, results of operations, cash flows, financingplans, discovery and development of products, strategic alliances,competitive position, plans and objectives of management areforward-looking statements. Words such as "anticipate," "believe,""estimate," "expect," "intend," "plan," "will" and other similarexpressions help identify forward-looking statements, although not allforward-looking statements contain these identifying words. Inparticular, the statements regarding the completion of the evaluationof strategic alternatives and for a potential transaction regardingRosemont Pharmaceuticals, the clinical development of Puricase(PEG-uricase), commencement of the Phase 3 clinical trial for Puricase(PEG-uricase), time for completion of patient recruitment and timingfor the filing of an BLA for Puricase (PEG-uricase), and the timingand size of a stock repurchase plan are forward-looking statements.These forward-looking statements involve substantial risks anduncertainties and are based on current expectations, assumptions,estimates and projections about the Company's business and thebiopharmaceutical and specialty pharmaceutical industries in which theCompany operates. Such risks and uncertainties include, but are notlimited to, the Company's ability to conclude its strategic evaluationand consummate an appropriate transaction with respect to RosemontPharmaceuticals on attractive terms; delay or failure in developingPuricase and other product candidates; difficulties of expanding theCompany's product portfolio through in-licensing; introduction ofgeneric competition for Oxandrin; fluctuations in buying patterns ofwholesalers; potential future returns of Oxandrin or other products;the Company's continuing to incur substantial net losses for theforeseeable future; difficulties in obtaining financing; potentialdevelopment of alternative technologies or more effective products bycompetitors; reliance on third-parties to manufacture, market anddistribute many of the Company's products; economic, political andother risks associated with foreign operations; risks of maintainingprotection for the Company's intellectual property; risks of anadverse determination in on-going or future intellectual propertylitigation; and risks associated with stringent government regulationof the biopharmaceutical and specialty pharmaceutical industries. TheCompany may not actually achieve the plans, intentions or expectationsdisclosed in its forward-looking statements, and you should not placeundue reliance on the Company's forward-looking statements. Actualresults or events could differ materially from the plans, intentionsand expectations disclosed in the forward-looking statements that theCompany makes. The Company's forward-looking statements do not reflectthe potential impact of any future acquisitions, mergers,dispositions, joint ventures or investments that the Company may make.The Company does not assume any obligation to update anyforward-looking statements.

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