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AMPAC Fine Chemicals and Codexis Enter Into a Manufacturing Partnership

RANCHO CORDOVA, Calif., March 26, 2010 /PRNewswire via COMTEX/ -- AMPAC Fine Chemicals LLC (AFC), a subsidiary of American Pacific Corporation (Nasdaq: APFC) announced today that it has entered into a manufacturing partnership with Codexis, Inc., a California based biotech company.

Under a new agreement, AFC will partner with Codexis to use Codexis' proprietary biocatalysis technology in combination with AFC's existing technologies to reduce cost, increase manufacturing efficiency and lessen environmental impact for pharmaceutical intermediates and APIs. Through this collaboration, AFC will have access to certain Codexis biocatalysts that add to the technology "toolbox" already present at AFC. AMPAC Fine Chemicals and Codexis will focus on development of new chemical processes through this collaboration that, if successful, could result in manufacturing cost reductions on a number of marketed pharmaceutical products.

"Ampac Fine Chemicals has established itself as a leader using innovative technologies such as Energetic Chemistry, Continuous Processes, commercial scale Simulated Moving Bed Chromatography and other innovative methods to bring value to our client base," stated Aslam Malik, President of AFC. "The partnership with Codexis brings the strengths of two innovative companies together to further leverage AFC's inherent skills. AFC technologies and commercial scale production capabilities have successfully enabled our customers' projects for over 50 years."

"Ampac Fine Chemicals is one of America's leading manufacturers of custom small molecule APIs," stated Joe Carleone, Chief Executive Officer of AMPAC. "This partnership with Codexis is another example of the forward looking steps our team has made to serve our customers with the most efficient and cost effective manufacturing processes for their products."

ABOUT AMPAC FINE CHEMICALS LLC

AFC is a U.S.-based company with demonstrated capabilities in process development, scale-up, and cGMP-compliant commercial production of active pharmaceutical ingredients (API's) and registered intermediates for pharmaceutical and biotechnology customers. Its specially engineered facilities and experienced staff allow AFC to safely produce highly energetic compounds at commercial scale. In addition, AFC's other technology platforms include production of highly potent compounds, continuous processes and industrial-scale chromatographic separation using simulated moving bed chromatography (SMB).

ABOUT AMERICAN PACIFIC CORPORATION

American Pacific Corporation (AMPAC) is a leading custom manufacturer of fine chemicals, specialty chemicals and propulsion products within its focused markets. We supply active pharmaceutical ingredients and advanced intermediates to the pharmaceutical industry. For the aerospace and defense industry we provide specialty chemicals used in solid rocket motors for space launch and military missiles. AMPAC also designs and manufactures liquid propulsion systems, valves and structures for space and missile defense applications. We produce clean agent chemicals for the fire protection industry, as well as electro-chemical equipment for the water treatment industry. Our products are designed to meet customer specifications and often must meet certain governmental and regulatory approvals. Additional information about us can be obtained by visiting our web site at www.apfc.com.

ABOUT CODEXIS

Codexis, Inc. is a leading provider of optimized biocatalysts that make existing industrial processes faster, cleaner and more efficient than current methods and have the potential to make new industrial processes possible at commercial scale. Codexis has commercialized its biocatalysts in the pharmaceutical industry and is developing biocatalysts for use in producing advanced biofuels under a multi-year research and development collaboration. The company is also using its technology platform to pursue biocatalyst-enabled solutions in other bioindustrial markets, including carbon management, water treatment and chemicals.

FORWARD-LOOKING STATEMENTS

Statements contained in this press release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including without limitation statements regarding anticipated benefits and outcomes from the partnership of Ampac Fine Chemicals LLC with Codexis, Inc., including the impact of such partnership on potential future manufacturing costs and efficiencies. The inclusion of forward-looking statements should not be regarded as a representation by American Pacific Corporation and its affiliates (collectively, "American Pacific") that any of American Pacific's expectations will be achieved. Actual results may differ materially from future results or outcomes expressed or implied by forward-looking statements set forth in this press release due to risks, uncertainties and other important factors inherent in American Pacific's business. Factors that might cause actual results to differ include, but are not limited to, those included in the "Risk Factors" section of the Form 10-Q for the quarter ended December 31, 2009 filed by American Pacific Corporation with the U.S. Securities and Exchange Commission. Readers of this press release are referred to the filings of American Pacific Corporation with the U.S. Securities and Exchange Commission, including the Form 10-Q for the quarter ended December 31, 2009 and the Form 10-K for the fiscal year ended September 30, 2009, for further discussion of these and other factors that could affect future results. The forward-looking statements contained in this press release are made as of the date hereof and American Pacific assumes no obligation to update for actual results or to update the reasons why actual results could differ materially from those projected in the forward-looking statements, except as required by law.

SOURCE American Pacific Corporation