JLL Announces Extension of Its Offer to Acquire Patheon and Take Up of Deposited...

JLL Announces Extension of Its Offer to Acquire Patheon and Take Up of
Deposited Restricted Voting Shares

NEW YORK, June 30 /PRNewswire/ -- JLL Partners, Inc. and its affiliate, JLL
Patheon Holdings, LLC (collectively, "JLL"), announced today that as at 6:00
p.m. (Toronto time) on June 29, 2009 (the "Expiry Time") a total of 33,842,137
Restricted Voting Shares in the capital of Patheon Inc. ("Patheon") have,
since commencement of the offer, been validly deposited to JLL's offer to
acquire, at a price of US$2.00 cash per Restricted Voting Share, all of the
issued and outstanding Restricted Voting Shares of Patheon (the "Offer"). As
all of the conditions of the Offer have been met, JLL has taken up and made
payment to the Depository for all of the Restricted Voting Shares validly
deposited as of the Expiry Time. Payment will be made on or before Friday,
July 3, 2009 to Patheon shareholders who have validly deposited their
Restricted Voting Shares under the Offer since June 16, 2009.

The Restricted Voting Shares taken up since the Offer was launched represent
approximately 38% of the outstanding Restricted Voting Shares of Patheon not
already owned by JLL or its affiliates and associates. Together with the
Restricted Voting Shares owned prior to the Offer, JLL or its affiliates and
associates now own 35,492,137 Restricted Voting Shares of Patheon or
approximately 39% of the outstanding Restricted Voting Shares of Patheon. JLL
also holds 150,000 convertible preferred shares convertible into Restricted
Voting Shares representing approximately 29% of the currently issued and
outstanding Restricted Voting Shares on an as-converted basis. If JLL were
to convert its convertible preferred shares, which it is free to do at any
time, it would hold in the aggregate 57% of the total number of Restricted
Voting Shares issued and outstanding and would be entitled to vote such
securities at any shareholders meeting. JLL will continue to assess whether
or not to convert its convertible preferred shares as facts and circumstances
develop.

JLL also announced that it has extended the Offer which will now expire ten
days from the mailing of a formal notice of extension. JLL expects to mail a
formal notice of extension to Patheon shareholders shortly. JLL intends to
take up and pay for any further Restricted Voting Shares as and when they are
deposited.

About JLL Partners

JLL Partners, Inc. is a New York-based leading private equity investment firm
with approximately $4.0 billion of capital under management. JLL's investment
philosophy is to partner with outstanding management teams and invest with
them in companies that they can continue to grow into market leaders. JLL has
invested in a variety of industries, with special focus on financial services,
building products, and healthcare services and medical products. More
information on JLL can be found on the website www.jllpartners.com.

Forward-Looking Statements

Certain statements made in this press release are forward-looking statements
that involve risks and uncertainties. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans", "expects",
"expected", "scheduled", "estimates", "intends", "anticipates", or "believes",
or variations of such words and phrases, or state that certain actions, events
or results "may", "could", "would", "might" or "will" be taken, occur or be
achieved. These forward-looking statements reflect JLL's best judgment based
on current information, factors and assumptions, and although it bases these
statements on circumstances that it believes to be reasonable when made, there
can be no assurance that future events will not affect the accuracy of such
forward-looking information. As such, the forward-looking statements are not
guarantees of future performance or actions, and actual performance and
actions may vary materially from the actions and expectations discussed in
this documentation. JLL disclaims any intention or obligation to update or
revise any forward looking information whether as a result of new information,
future events or otherwise, except as required by applicable law.

The Information Agent for the Offer is:

Laurel Hill Advisory Group
366 Bay Street, Suite 200
Toronto, ON M5H 4B2
Telephone Toll Free (North America):
(888) 290-1555
Telephone Collect (outside North America):
(416) 637-4661

The Dealer Manager for the Offer is:

UBS Securities Canada Inc.
161 Bay Street
Suite 4100, P.O. Box 617
Toronto, ON M5J 2S1
Telephone: (416) 350-2201

SOURCE JLL Partners

Brian Wade, +1-212-210-9317