Mylan Names Margaret McKenna Chief Business Development OfficerPITTSBURGH, June 29 /PRNewswire-FirstCall/ -- Mylan Laboratories Inc. (NYSE: MYL) today announced the appointment of Margaret A. McKenna to the newly created position of Chief Business Development Officer, effective June 29, 2004.

McKenna has led an extensive career in healthcare-focused corporate finance, having worked for Salomon Smith Barney, ING Barings, UBS Securities, and JP Morgan. As Managing Director at Salomon Smith Barney, she was responsible for the firm's biotechnology and the specialty pharmaceutical practice. Prior to that, McKenna held a similar position at ING Barings. During her two-year tenure at UBS Securities, McKenna was responsible for US and international CROs and biotechnology. During her eighteen-year tenure at JP Morgan, McKenna established the firm's loan sale program, co-founded JP Morgan's high yield business, and was responsible for the investment and commercial banking business with pharmaceutical, biotech, and other health care companies. Most recently, McKenna has been working as an independent strategic consultant for specialty pharmaceutical and biotech companies.

"Our organic growth strategy has enabled us to become a leader in the generic pharmaceutical industry. Mylan's continued success will be driven by our core organic growth and a strategic, external strategy. Margaret's addition will go a long way towards achieving this endeavor," said Robert J. Coury, Mylan's Vice Chairman and CEO.

Margaret McKenna said, "I feel very strongly about the growth potential of this business, and am thrilled to be joining the team at this time. I look forward to helping Mylan achieve its business development goals for the future."

Mylan Laboratories Inc. is a leading pharmaceutical company with four subsidiaries, Mylan Pharmaceuticals Inc., Mylan Technologies Inc., UDL Laboratories, Inc. and Mylan 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 growth and continued success, the achievement of the Company's business development goals and Ms. McKenna's affiliation with the Company. 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: risks and uncertainties inherent in acquisition strategies; the effects of vigorous competition on commercial acceptance of the Company's products and their pricing; the Company's exposure to lawsuits, regulatory and legislative changes and other contingencies associated with its business; the cessation of Ms. McKenna's employment relationship with the Company; 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.
    -0-                             06/29/2004
    /CONTACT:  Media, Heather Bresch, or Investors, Kris King of Mylan
Laboratories Inc., +1-724-514-1800/
    /Web site:  http://www.mylan.com /
    (MYL)

CO:  Mylan Laboratories Inc.
ST:  Pennsylvania
IN:  HEA MTC
SU:  PER

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