Mylan Declares Quarterly Cash DividendPITTSBURGH, June 17 /PRNewswire-FirstCall/ -- Mylan Laboratories Inc. (NYSE: MYL) announced today that the regular quarterly cash dividend of $.03 per share will be payable on July 15, 2004, to shareholders of record at the close of business on June 30, 2004.

Mylan Vice Chairman and CEO, Robert J. Coury stated, "Once again, we are among the very few companies in our sector that pays a dividend and we believe it is an important component of total shareholder return."

Mylan paid its first cash dividend July 15, 1983. The company paid a semi-annual dividend from 1985 to 1990 and has paid a quarterly dividend consecutively since 1990.

Mylan Laboratories Inc. is a leading pharmaceutical company with four subsidiaries, Mylan Pharmaceuticals Inc., Mylan Technologies Inc., UDL Laboratories, Inc. and Bertek Pharmaceuticals Inc., that develop, manufacture and market an extensive line of generic and proprietary products.

For more information about Mylan, visit www.mylan.com .

This press release includes statements that constitute "forward-looking statements," including with regard to the Company's payment of dividends. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: a business decision by the Company to change its dividend program; a decline in the price of the Company's stock due to market conditions or other matters outside of the Company's control; the Company's ability to successfully develop, license or otherwise acquire and introduce new products on a timely basis in relation to competing product introductions; the Company's exposure to lawsuits and contingencies associated with its business; other uncertainties and matters beyond the control of management, which could affect the Company's net income; and the other risks detailed in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

SOURCE Mylan Laboratories Inc.
06/17/2004
CONTACT:
Media, Heather Bresch, +1-724-514-1800
or Investors, Kris King, +1-724-514-1800
both of Mylan Laboratories Inc.
Web site: http://www.mylan.com