Savient Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4) (SVNT)

Savient Pharmaceuticals, Inc. SVNT today announced that it has granted time-based and performance-based options to purchase shares of common stock to Richard Crowley, the Company's newly appointed Executive Vice President of Biopharmaceutical Operations. The grants were made pursuant to the NASDAQ inducement grant exception as components of Mr. Crowley's employment compensation. The inducement grants were approved by the Company's Board of Directors on March 22, 2011 and are being made as an inducement material to Mr. Crowley's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4). Savient previously announced that Mr. Crowley has been appointed Executive Vice President of Biopharmaceutical Operations effective April 30, 2011.