PITTSBURGH and BRISTOL, Tenn., Feb. 27 /PRNewswire-FirstCall/ -- Mylan Laboratories Inc. (NYSE: MYL) and King Pharmaceuticals, Inc. (NYSE: KG) today announced that the companies have mutually agreed to terminate the agreement pursuant to which Mylan was to acquire King. Following discussions, the companies were not able to agree upon terms for a revised transaction.

About Mylan Laboratories:

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 http://www.mylan.com.

About King Pharmaceuticals:

King, headquartered in Bristol, Tennessee, is a vertically integrated branded pharmaceutical company. King, an S&P 500 Index company, seeks to capitalize on opportunities in the pharmaceutical industry through the development, including through in-licensing arrangements and acquisitions, of novel branded prescription pharmaceutical products in attractive markets and the strategic acquisition of branded products that can benefit from focused promotion and marketing and product life-cycle management.

     CONTACTS:
     Heather Bresch (Public Relations)
     Mylan Laboratories Inc.
     724.514.1800

     Kris King (Investor Relations)
     Mylan Laboratories Inc.
     724.514.1800

     James E. Green
     King Pharmaceuticals
     423.989.8125


SOURCE  Mylan Laboratories Inc.
    -0-                             02/27/2005
    /CONTACT:  Public Relations: Heather Bresch, Investor Relations: Kris
King, both of Mylan Laboratories Inc., +1-724-514-1800; or James E. Green,
Corporate Affairs of King Pharmaceuticals, +1-423-989-8125/
    /Web site: http://www.mylan.com /
    (MYL KG)

CO:  Mylan Laboratories Inc.; King Pharmaceuticals
ST:  Pennsylvania, Tennessee
IN:  MTC HEA
SU:  TNM

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2531 02/27/2005 19:45 EST http://www.prnewswire.com