Bentley Acquires Rights to Market Leading Anti-Depressant in Spain.

TAMPA Fla.--(BW HealthWire)--June 11, 1998--Bentley Pharmaceuticals Inc. (AMEX:BNT) Thursday announced that its Spanish subsidiary, Laboratorios Belmac, has acquired the regulatory dossier and the rights from SEQ Ltd. to register and commercialize a generic version of FLUOXETINE in Spain.

The terms of the deal were not disclosed. Fluoxetine is the worldwide leading anti-depressant in the serotonin uptake inhibitor class and is sold in the United States under the trade name of Prozac(TM). Worldwide annual sales of Prozac are estimated at approximately $2.58 billion of which $71.5 million are in Spain.

Chairman and Chief Executive Officer Jim Murphy said: "The acquisition of the rights to this product is a major triumph. Fluoxetine has true star potential for Bentley. It is highly recognized and regularly prescribed worldwide. We project that as we expand over the next several years, this product could result in a significant increase in Bentley's annual revenues.

"We are enthusiastic about the potential profitability of Fluoxetine. In part, our enthusiasm regarding this acquisition stems from our understanding and appreciation of the events that led to the explosion of high value generic pharmaceuticals in the U.S. The boom that we saw occur in the U.S. is beginning to occur in Spain.

"According to IMS, the market in Spain for the class of anti-depressants is $200 million and growing at a rate of approximately 15 percent annually. Historical experience shows that a branded product can lose as much as 50 percent of its market share to generic competition, and that the first to exploit the generic market effectively gains a strong competitive advantage.

"Our goal is to capture a large part of the generic market. In accordance with our safe harbor clause, although there can be no assurance of regulatory approval, we are hopeful that sales of Fluoxetine will commence within the next year. This acquisition, and other product acquisitions on which we are currently working, are indicative of the strategy that we are deploying both to gain market penetration and to enhance shareholder value."

Prozac is a registered trademark of Eli Lilly.

Tampa-based Bentley Pharmaceuticals is an emerging international pharmaceutical company that leverages the competitive advantage of its manufacturing facility in Spain with its drug delivery technology to provide treatment for cardiovascular, gastrointestinal, neurological and infectious diseases.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, the intensity of competition in the generic market place, the potential uncertainties of consumer acceptance of generic drugs in Spain, the ability to find effective market distribution channels, developments of new products, regulatory approval processes, the impact of competitive products or pricing, unpredictability of patent protection, technological changes, the effect of economic conditions and other uncertainties detailed in the company's filings with the Securities and Exchange Commission.

CONTACT: Kinexsys, Newport Beach, Calif.

Timothy R. Forstrom, 714/520-7507

or

Bentley Pharmaceuticals, Tampa

Elaine Melia, 813/286-4401