Caraco Pharmaceutical Laboratories, Ltd. Receives Notice Regarding NYSE Amex Continued Listing Standards

Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) announced that on July 12, 2010, NYSE Amex notified the Company that it was not in compliance with the requirement under its continued listing standards that its audit committee be comprised of three independent members. On July 9, 2010, the Company informed NYSE Amex of its non-compliance with Section 803(B)(2)(a) of NYSE Amex Company Guide following the resignation of Mr. Madhava Reddy as a director of the Company on July 6, 2010, leaving two independent directors on the Company's audit committee. Additionally, the Company notified NYSE Amex that it intends, in conformance with NYSE Amex rules, to add another independent director to the audit committee within 180 days of the resignation.