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Eckert & Ziegler announces offer to Board to Acquire Theragenics

Berlin, March, 17, 2011. Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700) has announced today that it has submitted a non-binding proposal to the Board of Directors of Theragenics Corporation (NYSE: TGX), based in Buford, Georgia, USA to acquire, either directly or through IBt Bebig, all the outstanding shares of Theragenics for $2.20 per share, in cash.  The offer represents a total equity value of approximately $74 million and a premium of 38.4% over Theragenics' closing stock price on March 16, 2011.  The offer also represents a premium of 15.8% over the 52 week high trading price of Theragenics stock.

The non-binding offer, which was made on February 8, 2011, and rejected by Theragenics on March 11, 2011, was reiterated in a letter sent today to Theragenics' Board of Directors.  Theragenics has been unwilling to engage in discussions with Eckert & Ziegler. Eckert & Ziegler is disclosing the contents of its letter and non-binding offer in order to inform Theragenics' shareholders of the significant shareholder value and compelling strategic fit inherent in a combination of the two companies.

Eckert & Ziegler has named Canaccord Genuity, based in Boston, Massachusetts, USA, as its U.S. Financial advisor and Equinet Bank AG, based in Frankfurt, Germany, as its European Financial advisor. Eckert & Ziegler has secured several support letters from major financial institutions and is confident of its ability to finance the transaction.

"We believe this proposed combination provides superior value to our respective shareholders and will enable us to offer better products, better services and innovation to our customers," said Dr. Andreas Eckert, CEO of Eckert & Ziegler and Chairman of the Board of IBt Bebig.  "We continue to believe that our all cash offer of $2.20 per share is a highly welcome and fair exit for shareholders of Theragenics.  We are disappointed that the Theragenics Board of Directors has thus far refused to engage in a discussion of acceptable terms. However we remain committed to the transaction and are prepared to consider all alternatives to successfully complete this transaction."

No decisions have been taken about the final form and structure that a combination of the two radiation therapy businesses might have. The Executive Directors and the Board of IBt Bebig, however, have been closely involved in the Eckert & Ziegler discussions regarding Theragenics and support an integration of the Theragenics businesses into the IBt Bebig structures.

At this stage, there can also be no assurance that any agreement could be reached between the Eckert & Ziegler AG and Theragenics. Neither the letters to the Theragenics' Board of Directors nor this press release constitute an offer to the Theragenics' shareholders nor do they constitute a statement of current intention to commence a tender offer to the Theragenics shareholders.

"Since the merger of IBt and Bebig that started in 2008, our strategy is to create a true international Group with a strong ambition to become a world leader in Brachytherapy. With this planned acquisition we would move one step forward, as we would re-enter in the United States, the largest brachytherapy market. We are the best strategic partner to expand the potential of Theragenics and together broaden the product portfolio with our SmartSeed® and MultiSource® Afterloader", commented Dr. Edgar Löffler Managing Director of IBt Bebig.

Permanent Brachytherapy has faced strong competition in recent years from more expensive alternative treatment options, including Intensity Modulated Radiation Therapy (IMRT) and Robotic Surgery. As health care costs are rising and are a key concern in most countries, the Management of IBt Bebig sees a real opportunity to further promote Permanent Brachytherapy, a minimally invasive one day procedure, as an effective and economical treatment option.

"We have great respect for Theragenics, one of the leading Brachytherapy companies in the US. We have known them a long time, since IBt was founded in 1996 by a few former Theragenics Executives. We have the same vision, that Brachytherapy is a well tolerated treatment option to cure cancer and aligned to patient requirements. Our combined company will be uniquely positioned to further promote this efficient and economical treatment option worldwide", commented Dr. Gunnar Mann, Managing Director of IBt Bebig.