Bentley Pharmaceuticals Re-elects Three Directors.

Business Editors

NORTH HAMPTON, N.H.--(BUSINESS WIRE)--May 23, 2002

Bentley Pharmaceuticals, Inc. (AMEX:BNT), a specialty pharmaceutical company focused on advanced drug-delivery technologies, which also manufactures and markets generic and branded products in Europe, today announced that shareholders voting at its annual meeting on May 22 re-elected three directors to its eight member board.

Re-elected to three year terms were James Murphy, chairman, president and CEO, 52, and Robert M. Stote, M.D., senior vice president and chief science officer, 62, who have both served as Directors since 1993, as well as Miguel Fernandez, 71, who has served as Director since 1999.

At the meeting, the company also recapped its advancements in drug-delivery technologies, including progress on plans to expand its clinical programs toward achieving commercialization. The FDA is reviewing the first NDA to include Bentley's proprietary CPE-215 technology, which was filed for Auxilium's novel male hormone replacement therapy, Testim(TM). Following FDA approval, commercialization of this product is initially targeted for the U.S., Europe and Japan. Bentley will receive royalties on all sales to this expansive market, which is estimated to be a $2 billion market over the next five years.

In addition, clinical trials for evaluating Bentley's topical nail lacquer for treating nail-fungal infections remain on track at the University of Alabama-Birmingham. The company is also progressing with its pre-clinical study at Dartmouth College for evaluating topical androgen therapy for women suffering from fibromyalgia syndrome and continues to gather valuable information for more advanced studies.

Jim Murphy, chairman, president and CEO, stated, "We are well positioned for future success, and expect our generic products and our proprietary drug-delivery technologies to drive additional revenue growth and profits. As indicated in our first quarter earnings announcement and conference call, we expect to generate total revenues of approximately $35-$37 million in 2002."

Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley's proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Spain for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries Laboratorios Belmac and Laboratorios Davur.

Copies of the company's press releases and other information may be obtained through Bentley's web site at www.bentleypharm.com.

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 identifying suitable drugs for drug delivery technologies, expanding generic and branded drug operations, development and commercialization of our products, relationships with our strategic partners, uncertainty of clinical trials, regulatory approval process, product sales concentration, unpredictability of patent protection, technological changes, the effect of economic conditions and other uncertainties detailed in Bentley's filings with the Securities and Exchange Commission.