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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Biovail Corporation International
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
09067K106
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(CUSIP Number)
January 12, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/ / Rule 13d-1(b)
/X/ Rule 13d-1(c)
/_/ Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 09067K106
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Associated Capital, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) /X/
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
447,500
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH 447,500
REPORTING -------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
447,500
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.7%
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12 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 09067K106
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Associated Capital Offshore, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) /X/
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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NUMBER OF 5 SOLE VOTING POWER
40,000
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH 40,000
REPORTING -------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
40,000
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.1%
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12 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 09067K106
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
A Cap, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) /X/
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF 5 SOLE VOTING POWER
487,500
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH 487,500
REPORTING -------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
487,500
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.8%
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12 TYPE OF REPORTING PERSON (See Instructions)
CO
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CUSIP No. 09067K106
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Jay H. Zises
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) /X/
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5 SOLE VOTING POWER
811,494
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
95,561
OWNED BY -------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH 811,494
REPORTING -------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
95,561
WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
907,055
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.4%
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12 TYPE OF REPORTING PERSON (See Instructions)
IN
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CUSIP No. 09067K106
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Selig A. Zises
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) /X/
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5 SOLE VOTING POWER
243,936
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
172,929
OWNED BY -------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH 243,936
REPORTING -------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
172,929
WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
416,865
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.6%
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12 TYPE OF REPORTING PERSON (See Instructions)
IN
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CUSIP No. 09067K106
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Nancy J. Frankel-Zises
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) /X/
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5 SOLE VOTING POWER
73,603
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
EACH 73,603
REPORTING -------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
PERSON
WITH
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
73,603
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10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.3%
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12 TYPE OF REPORTING PERSON (See Instructions)
IN
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Item 1. (a) Name of Issuer:
Biovail Corporation International
(b) Address of Issuer's Principal Executive Offices:
2488 Dunwin Drive
Mississiaugt, Ontario L5L 1J9 Canada
Item 2. (a)(b)(c)Name of Person Filing; Address of Principal Business
Office or, if none Residence; Citizenship:
This Schedule 13G is being filed jointly by
Associated Capital, L.P., a Delaware limited
partnership ("Associated"), its general partner, A
Cap, Inc., a New York Corporation ("A Cap"), Jay H.
Zises, the President and a director of A Cap, Selig
A. Zises, Vice President, Treasurer and a director of
A Cap, Nancy J. Frankel-Zises, a director, Vice
President and Secretary and the sole stockholder of A
Cap, and Associated Capital Offshore, L.P., a Cayman
Islands limited partnership ("Associated Offshore").
Associated, A Cap, Jay H. Zises, Selig A. Zises,
Nancy J. Frankel-Zises and Associated Offshore are
hereinafter sometime referred to collectively as the
"Reporting Persons". The business address of
Associated Offshore is c/o Goldman Sachs (Cayman)
Trust, Limited, P.O. Box 896, George Town, Grand
Cayman, Cayman Islands, British West Indies. The
business address of each other Reporting Person is
477 Madison Avenue, 14th Floor, New York, New York,
10022. Jay H. Zises, Selig A. Zises and Nancy J.
Frankel-Zises are each United States citizens. The
Reporting Persons have previously filed a Statement
on Schedule 13D, dated September 19, 1995, as
amended, with respect to the Common Stock.
(d) Title of Class of Securities:
Common Stock, no par value
(e) CUSIP Number:
09067K106
Item 3. If this statement is being filed pursuant to Rule 13d-1(b),
or 13d-2(b), check whether the person filing is an:
(a)[ ] Broker or Dealer registered under Section 15 of the
Act
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(b)[ ] Bank as defined in section 3(a)(6) of the Act
(c)[ ] Insurance Company as defined in section 3(a)(19)
of the Act
(d)[ ] Investment Company registered under section 8 of the
Investment Company Act of 1940
(e)[ ] An Investment Adviser in accordance with Rule
13d-1(b)(1)(ii)(E)
(f)[ ] An Employee Benefit Plan or Endowment Fund in
accordance with Rule 13d-1(b)(1)(ii)(F)
(g)[ ] A Parent Holding Company or Control Person in
accordance with Rule 13d-1(b)(ii)(G)
(h)[ ] A Savings Association as defined in Section 3(b) of
the Federal Deposit Insurance Act
(i)[ ] A Church Plan that is excluded from the definition
of an investment company under Section 3(c)(14) of
the Investment Company Act of 1940
(j)[ ] Group, in accordance with 13d-1(b)(1)(ii)(J)
Item 4. Ownership:*
(a) Amount Beneficially Owned:
(b) Percent of Class:
(c) Number of Shares as to which such person has:
(i) sole power to vote or direct the vote -
(ii) shared power to vote or direct the vote -
(iii) sole power to dispose or direct the
disposition of -
(iv) shared power to dispose or direct the
disposition of -
*See Attachment A
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact
that as of the date hereof the reporting person has
ceased to be the beneficial owner of more than five
percent of the class of securities check the
following [ ]
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
N/A
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Item 7. Identification and Classification of the Subsidiary which
Acquired the Security Being Reported on by the Parent Holding
Company
N/A
Item 8. Identification and Classification of Members of the Group
Each of the Reporting Persons may be deemed to be members of a
group with each of the other Reporting Persons.
Item 9. Notice of Dissolution of Group
N/A
Item 10. Certification
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were not acquired and are not held for the
purpose of or with the effect of changing or
influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any
transaction having that purpose or effect.
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Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
ASSOCIATED CAPITAL, L.P.
By: A CAP, INC., as General Partner
By: /s/ Jay H. Zises
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Name: Jay H. Zises
Title: President
ASSOCIATED CAPITAL OFFSHORE, L.P.
By: A CAP, Ltd., as General Partner
By: /s/ Jay H. Zises
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Name: Jay H. Zises
Title:
A CAP, INC.
By: /s/ Jay H. Zises
----------------------------------
Name: Jay H. Zises
Title: President
/s/ Jay H. Zises
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Jay H. Zises
/s/ Selig A. Zises
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Selig A. Zises
/s/ Nancy J. Frankel-Zises
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Nancy J. Frankel-Zises
Dated: March 24, 1998
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ATTACHMENT A
As of March 23, 1998, Associated is the beneficial owner of
447,500 shares of Common Stock, for a total beneficial ownership of 1.7% of the
outstanding shares of Common Stock. As of March 23, 1998, Associated Offshore is
the beneficial owner of 40,000 shares of Common Stock, for a total beneficial
ownership of 0.1% of the outstanding shares of Common Stock. A Cap, as general
partner of Associated and investment manager of Associated Offshore has the
power to vote and to direct the voting of and the power to dispose and direct
the disposition of the 447,500 shares of Common Stock owned by Associated and
the 40,000 shares of Common Stock owned by Associated Offshore. Accordingly, A
Cap may be deemed to be the beneficial owner of 487,500 shares of Common Stock,
or 1.8% of the outstanding shares of Common Stock. As the President of A Cap,
Jay H. Zises has the power to vote and to direct the voting of and the power to
dispose and direct the disposition of the 487,500 shares of Common Stock deemed
beneficially owned by A Cap.
Jay H. Zises is the beneficial owner of an aggregate of
314,637 shares of Common Stock or 1.2% of the outstanding in his personal
account, individual retirement account ("IRA") and Keogh account. As hereinafter
described, Jay H. Zises also may be deemed to own beneficially an additional
104,918 shares of Common Stock or 0.4% of the outstanding. Such shares are owned
as follows: (i) 18,391 shares of Common Stock (less than one percent) in the
account of his son, Justin Zises, (ii) 9,357 shares of Common Stock (less than
one percent) held in an UGMA account for the benefit of his daughter, Meryl
Zises, (iii) 15,391 shares of Common Stock less than one percent) in the account
of his daughter, Lara Zises, (iv) 18,391 shares of Common Stock (less than one
percent) in the account of his daughter, Samantha Zises, (v) 23,388 shares of
Common Stock (less than one percent) in the account of his ex-wife, Susan Zises,
and (vi) 20,000 shares of Common Stock (less than one percent) in the account of
his mother-in-law, Inge Frankel. In addition to the 447,500 shares of Common
Stock owned by Associated and the 40,000 shares of Common Stock owned by
Associated Offshore, Jay H. Zises has sole power to vote or direct the vote of,
and to dispose and to direct the disposition of, 323,994 shares of Common Stock,
consisting of (A) the 314,637 shares held in Mr. Zises's personal, IRA and Keogh
accounts, and (B) the 9,357 shares held in the UGMA account for Meryl Zises. Jay
H. Zises has shared power to vote or direct the voting of, and shared power to
dispose or direct the disposition of 95,561 shares of Common Stock, consisting
of (A) the 15,391 shares held in Lara Zises's account, (B) the 18,391 shares
held in Samantha Zises's account, (C) the 18,391 shares held in Justin Zises's
account, (D) the 23,388 shares held in Susan Zises's account, and (E) the 20,000
shares held in Inge Frankel's account.
Selig A. Zises is the beneficial owner of an aggregate of
227,936 shares of Common Stock and options to purchase 16,000 shares of Common
Stock, totalling 0.9% of the outstanding, in Mr. Zises's personal account and
IRA. In addition, as described below, Mr. Zises also may be deemed to own
beneficially an additional 172,929 shares of Common Stock, totalling 0.6% of the
outstanding, held in the account of his daughter, Lynn Zises. Selig A. Zises has
shared power to vote or direct the voting of, and shared power to dispose or
direct the
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disposition of 172,929 shares of Common Stock, consisting of the shares held in
Lynn Zises's account.
Nancy J. Frankel-Zises is the beneficial owner and has the
sole power to vote or direct the voting of, and the sole power to dispose or
direct the disposition of 73,663 shares of Common Stock or 0.3% of the
outstanding in her IRA Account.
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AGREEMENT OF JOINT FILING
In accordance with Rule 13d-1(f) under the Securities Exchange
Act of 1934, as amended, the undersigned hereby agree to the joint filing with
all other persons signatory below of a statement on Schedule 13G or any
amendments thereto, with respect to the Common Stock of Biovail Corporation
International, and that this Agreement be included as an attachment to such
filing.
This Agreement may be executed in any number of counterparts
each of which shall be deemed to be an original and all of which together shall
be deemed to constitute one and the same Agreement.
IN WITNESS WHEREOF, the undersigned hereby execute this
Agreement on the 24th day of March, 1998.
ASSOCIATED CAPITAL, L.P.
By: A CAP, INC., as General Partner
By: /s/ Jay H. Zises
---------------------------------
Name: Jay H. Zises
Title: President
ASSOCIATED CAPITAL OFFSHORE, L.P.
By: A CAP, Ltd., as General Partner
By: /s/ Jay H. Zises
---------------------------------
Name: Jay H. Zises
Title:
A CAP, INC.
By: /s/ Jay H. Zises
---------------------------------
Name: Jay H. Zises
Title: President
/s/ Jay H. Zises
---------------------------------
Jay H. Zises
/s/ Selig A. Zises
---------------------------------
Selig A. Zises
/s/ Nancy J. Frankel-Zises
---------------------------------
Nancy J. Frankel-Zises
