SCHEIN PHARMACEUTICAL MANAGEMENT WILL CONTINUE UNDER DIRECTION

Executive Summary

SCHEIN PHARMACEUTICAL MANAGEMENT WILL CONTINUE UNDER DIRECTION of current president, Martin Sperber, following the death of Chairman Jacob Schein on Nov. 4. Schein, who was 49, had been CEO of the company for the past 10 years. His cancer had been diagnosed for over a year-and-a-half, and he was involved in the establishment of the management group to continue operation of the company. Sperber currently heads the corporation's pharmaceutical component, which includes Phoenix-based Steris Laboratories (makers of sterile parenteral, ophthalmic and otic products) and Danbury Pharmacal. In that role Sperber will be chairman of Danbury. William Haddad remains vice chairman of the Carmel, N.Y.-based generic drug manufacturer. Stanley Bergman is president and CEO of Schein's distribution business. Dental, medical and veterinary products manufactured by Schein and brandname companies are handled by the distribution component. * Ownership of the privately-held company remains within the Schein family estate trust. Organization of the family's interest in the company, which constitutes the vast majority of stock, was established in 1982 and provides for continuity of family ownership. The Scheins asked that expressions of sympathy be made in the form of contributions to the Schein Family Memorial Fund, in care of the New York Community Trust, 415 Madison Avenue, New York, NY 10017. The fund was established when the company's founder Henry Schein died in 1987.