Savient Pharmaceuticals to Hold Second Quarter Financial Results Conference Call on Thursday, August 7, 2008

Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) announced today that the company will release financial results for the second quarter 2008 following the close of the market on Wednesday, August 6, 2008. Christopher Clement, President and Chief Executive Officer, and Brian Hayden, Senior Vice President and Chief Financial Officer, will host an investment community conference call beginning at 10:00 a.m. Eastern Time on August 7, 2008 to discuss these results and to answer questions. Those interested in listening to the conference call live via the Internet may do so by visiting the Investor Relations section of Savient Pharmaceuticals’ web site at http://www.savient.com. To listen to the live call, please go to the web site fifteen minutes prior to its start to register, download, and install the necessary audio software. A replay will be available on the web site. A telephone replay will be available from 12:00 p.m. Eastern Time on August 7, 2008 through 11:59 p.m. Eastern Time on August 21, 2008 by dialing (800) 642-1687 (domestic) or (706) 645-9291 (international) and entering conference ID number 55401705. ABOUT SAVIENT PHARMACEUTICALS, INC. Savient Pharmaceuticals is a biopharmaceutical company engaged in developing and distributing pharmaceutical products that target unmet medical needs in both niche and broader markets. The company's product development candidate, Puricase® (pegloticase) for treatment-failure gout, has reported positive Phase 1, 2 and 3 clinical data. Patient dosing in the Phase 3 clinical studies began in June 2006; patient enrollment was completed in March 2007; and the Phase 3 clinical studies were completed in October 2007. Savient has exclusively licensed worldwide rights to the technology related to Puricase from Duke University and Mountain View Pharmaceuticals, Inc. Savient's experienced management team is committed to advancing its pipeline and expanding its product portfolio by in-licensing late-stage compounds and exploring co-promotion and co-development opportunities that fit the Company's expertise in specialty pharmaceuticals and biopharmaceuticals with an initial focus in rheumatology. Savient also manufactures and supplies Oxandrin® (oxandrolone tablets, USP) CIII in the U.S. Puricase is a registered trademark of Mountain View Pharmaceuticals, Inc. Further information on Savient can be accessed by visiting: http://www.savient.com. SVNT-I