RESEARCH TRIANGLE PARK, N.C. – March 22, 2011 – Quintiles Transnational Corp. (“Quintiles”) today announced that, as a result of recent unfavorable global credit market conditions, it has postponed its previously announced plans to enter into new $2.425 billion credit facilities. Quintiles continues to benefit from its strong cash position and existing favorable terms on its current credit facilities. It had entered the market to take advantage of what it considered to be favorable conditions at the time with the intention of supplementing its existing strong position.

As a result of the postponement of the proposed refinancing, Quintiles Transnational Holdings Inc. (“Holdings”), parent of Quintiles, also announced today that it has terminated its tender offer (the “Tender Offer”) to purchase for cash up to $525 million of its outstanding 9.50% Senior Notes due 2014 (CUSIP Nos. 74876Y AA9 and U74887 AA5)(the “Notes”) and the related solicitation of consents from the holders thereof to amend the indenture under which the Notes were issued to eliminate most of the restrictive covenants and amend certain related provisions (the “Consent Solicitation”). All notes tendered in the Tender Offer will be returned promptly to the respective holders thereof without any action required on the part of the holders. No consideration will be paid in the Tender Offer on any of the tendered notes.

The Tender Offer and Consent Solicitation was made upon the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated March 10, 2011, and related Letter of Transmittal, including, among other things, a financing condition that Quintiles borrow funds sufficient to purchase the Notes tendered and pay the related consent payments and fees and expenses in connection therewith on terms satisfactory to Quintiles. Quintiles has determined that the conditions are not met and has terminated and withdrawn the Tender Offer and Consent Solicitation.

This press release confirms formal termination of the Tender Offer and Consent Solicitation. Holdings reserves the right to make a new tender offer at a later date if market conditions become more favorable, but is under no obligation to do so.

The exclusive dealer manager for the Tender Offer and solicitation agent for the Consent Solicitation was Wells Fargo Securities, LLC (866) 309-6316 (toll-free) and (704) 715-8341 (collect). The tender agent and information agent for the Tender Offer and Consent Solicitation was Global Bondholder Services Corporation. Holders of Notes with questions regarding the termination of the Tender Offer and Consent Solicitation may call the information agent, Global Bondholder Services, toll free at (866) 470-4200 or collect at (212) 430-3774.
This press release is for informational purposes only and does not constitute an offer to buy, the solicitation of an offer to sell or the solicitation of consents with respect to the Notes. This press release shall not constitute an offer, solicitation or sale in any jurisdiction.

About Quintiles

Quintiles is the only fully integrated biopharmaceutical services company offering clinical, commercial, consulting and capital solutions worldwide. The Quintiles network of more than 20,000 engaged professionals in 60 countries around the globe works with an unwavering commitment to patients, safety and ethics. Quintiles helps biopharmaceutical companies navigate risk and seize opportunities in an environment where change is constant. For more information, please visit

Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially, including, without limitation, the possibility that Quintiles may not resume any refinancing in the near future, regardless of whether market conditions improve. Any forward-looking statements are as of the date hereof, and we have no duty to update them if our views later change.