----

|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   | A.      The      number of shares in said series is 40,000 shares of preferred stock, per      value $2.50 per share.                                                                                                                                                                                                                                                                                                                                                         |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
|   | B.      The      said series in designated Fifth Series Preferred Stock.                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
|   | C.      The      holders of said Fifth Series Preferred Stock shall be entitled to receive      cumulative dividends, as and when declared by the Board of Directors, out      of the annual net profits of the Corporation, at the rate of 8% per annum      payable semi-annually on June 15th and December 15th      of each year before any dividends shall be declared or paid upon or set      apart for the common stock, or any other series of preferred      stock. |   |

----

|   | D.     In      any year after said Fifth Series Preferred Stock, and the Fourth Series      Preferred, and the Third Series Preferred and the Second Series Preferred      Stock and the First Series Preferred Stock which is issued and outstanding      has received its stipulated dividends and any arrearages thereof that may      be due and unpaid, the directors may elect to make any further      distributions of dividends to holders of the shares of common      stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
|   | E.     In      case of any liquidation, dissolution, or winding up of the affairs of the      corporation, whether voluntary or involuntary, and after payment of all of      the debts of the corporation, the assets shall be distributed among the      holders of any series of preferred stock in accordance with the      preferences and limitations of the series and the remainder among the      holders of the common stock, share and share alike, subject to the      limitation that, if the stated dividends and amounts payable on      liquidation are not paid in full, the shares of all series of the same      class shall share ratably in the payment of dividends including      accumulations, if any, in accordance with the sums which would be payable      on such shares if all dividends were declared and paid in full, and in any      distribution of assets other than by way of dividends in accordance with      the sums which would be payable on such distribution if all sums payable      were discharged in full. |   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
|   | F.     The      holders of Fifth Series Preferred Stock shall have voting power and shall      entitle such holders to cast a number of votes which is equal to the      number of such holder’s shares, shall have the right to participate in any      meeting of stockholders, shall be entitled to notice of any such meeting      and shall be considered stockholders for the purpose of any election,      meeting, consent, or waiver of notice, under the provisions of any      law now in force of which may hereafter be enacted. If there shall be      an increase in the common stock of the Corporation through stock split,      stock distribution, stock dividend or the like, appropriate adjustment      shall be made in the number      of votes which the holders of Fifth Series Preferred Stock shall be      entitled to cast.                                                                                                                                                                                         |   |

----

|   | G.     Any      holder of Fifth Series Preferred Stock may at any time,      subject as hereinafter set forth with respect to the redemption      of such stock, convert all or any of the shares of such stock held by      such holder into the shares of common stock of the Corporation as      hereinafter specified, by the surrender to the Corporation for      cancellation of the certificate or certificates representing the preferred      stock so to be converted, and upon such surrender shall be entitled to      receive therefore one or more certificates for the number of shares of      common stock which on said conversion, as hereinafter specified, the      Corporation shall be required to issue. The basis for said conversion      shall be at the rate of five and one tenth (5.1) shares of Fifth Series      Preferred Stock for one (1) share of common stock, without any adjustments      for current dividends. If there shall be any change in the stock of the      Corporation through merger, consolidation, reorganization, stock split,      stock distribution, stock dividend or other change in the corporate      structure of the corporation, appropriate adjustment shall be made in the      basis for conversion. |   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
|   | H.     The      Corporation at its option may, pursuant to Sections 512 and 513 of the      Business Corporation Law, redeem the whole or any part of the Fifth Series      Preferred Stock outstanding at any time pro rata or by lot, by paying      therefore the sum of $2.50 per share, together with any accumulated      dividends due thereon on the date specified for redemption thereof by      mailing notices of such redemption to the holders of the Fifth Series      Preferred stock to be redeemed. The notice of such redemption shall be      mailed not less than ninety (90) days prior to the date upon which the      stock is to be redeemed to each holder of stock so to be redeemed, at such      holder’s address as it appears on the books of the Corporation. On and      after the date fixed for such redemption, the holders of shares so called      for redemption shall cease to be entitled to any further dividends, and      the respective holders thereof shall have no right or interest      thereon or therein, by reason of the ownership of such shares      except to receive the said redemption price, as a debt without interest,      upon presentation and surrender of their certificates      therefor.               |   |

----

|                (4)     The      foregoing amendment of the Certificate of Incorporation was authorized by      the unanimous vote of the Board of Directors of ACETO CORPORATION at a      meeting duly called and held on the 26th day of February,      1988. |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                |   |
|                IN      WITNESS WHEREOF, this Certificate has been subscribed this 1st day of      March, 1988, by the undersigned who affirm the statements made herein are      true under the penalties ofperjury.                                                                     |

|   |  /s/      Seymour Mann    |
|--------|--------------------------------|
|   | Seymour      Mann, President   |
|   |                           |
|   |  /s/      Arnold Frankel  |
|   | Arnold      Frankel, Secretary |