Bentley Pharmaceuticals Reports Third Quarter 2000 Results.

Business Editors and Health/Medical Writers

NORTH HAMPTON, N.H.--(BUSINESS WIRE)--Oct. 30, 2000

Bentley Pharmaceuticals, Inc. (AMEX:BNT), a drug delivery company with a commercial presence in Europe, today reported revenues of $3,626,000 for the third quarter ended September 30, 2000 compared with $5,187,000 in last year's third quarter.

Fluctuations in foreign currency exchange rates were responsible for $562,000 of the decrease when the results were translated into U.S. dollars. The company reported a net loss for the quarter of $419,000, or three cents per basic and diluted common share (13,662,000 weighted average common shares outstanding), compared with a net loss of $188,000, or two cents per basic and diluted common share (9,522,000 weighted average common shares outstanding), for the same quarter of 1999.

Revenues for the nine months ended September 30, 2000 totaled $13,305,000 compared with $14,295,000 in the same period of the prior year. Revenues for the nine-month period increased by five percent when expressed in local currency; however, movements in foreign currency exchange rates offset this growth when the results were translated into U.S. dollars. The net loss for the nine months ended September 30, 2000 totaled $560,000, or four cents per basic and diluted common share (12,672,000 weighted average common shares outstanding), compared with a net loss of $1,187,000, or fourteen cents per basic and diluted common share (8,808,000 weighted average common shares outstanding), in the comparable period of the prior year.

James R. Murphy, president and CEO of Bentley, said, "We are continuing to position our business in Spain as a leader in the newly emerging generic marketplace, as evidenced by our recent announcement that we have formed a strategic alliance with Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA), one of the world's largest generic pharmaceutical companies. We believe that this new relationship will significantly increase Laboratorios Belmac's growth rate and enable our other division in Spain, Laboratorios Davur, to become a leader in the Spanish generic market."

Murphy continued, "To further our presence in Europe, we also recently announced that we will be launching several new generic drugs in Spain during the fourth quarter, including the antibiotic product ciprofloxacin and the antidepressant fluoxatine to name just a couple."

"Laboratorios Davur has also been granted approval by the Spanish Ministry of Health to market selegiline, a drug useful in the treatment of Parkinson's disease. Approvals to manufacture and market these drugs represent important new opportunities for our Spanish subsidiaries, and a significant number of other products await approval."

Bentley Pharmaceuticals, Inc. is a drug delivery company focused on improving the absorption of a wide range of drugs and peptides through its drug delivery technologies, which it intends to commercialize in the U.S. and other major markets by licensing to other pharmaceutical companies. Bentley also manufactures and commercializes branded and generic products in Europe for the treatment of cardiovascular, gastrointestinal, neurological and infectious 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 the uncertainty of future financial results, additional financing requirements, the ability to find effective market distribution channels, development 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.

            BENTLEY PHARMACEUTICALS, INC. AND SUBSIDIARIES
     Condensed Consolidated Statements of Operations (Unaudited)
                (In thousands, except per share data)

                   For the Three                 For the Nine
                    Months Ended                 Months Ended
                  ---------------               --------------
                9/30/00       9/30/99         9/30/00       9/30/99
                -------       -------         -------       -------

Sales           $  3,626      $  5,187        $ 13,305      $ 14,295
Cost of
 sales             1,483         2,062           5,177         6,070
                --------      --------        --------      --------
Gross profit       2,143         3,125           8,128         8,225
Total operating
 expenses          2,619         2,800           8,237         8,197
                --------      --------        --------      --------
Income (loss)
 from operations    (476)          325            (109)           28
Other (income)
 expense, net        (39)          233              73           680
                ---------     --------        --------      --------
Income (loss)
 before income
 taxes              (437)           92            (182)         (652)
Provision
 (benefit)
 for foreign
 income taxes        (18)          280             378           535
                --------      --------        --------      --------
Net loss           ($419)        ($188)          ($560)      ($1,187)
                ========      ========        ========      ========
Basic and
 diluted net
 loss per common
 share             ($.03)        ($.02)          ($.04)        ($.14)
                ========      ========        ========      ========
Weighted average
 common shares
 outstanding      13,662         9,522          12,672         8,808
                ========      ========        ========      ========



            BENTLEY PHARMACEUTICALS, INC. AND SUBSIDIARIES
          Condensed Consolidated Balance Sheets (Unaudited)
                            (In thousands)

                                9/30/00                 12/31/99
Assets
Cash and cash
 equivalents                  $   4,349                $   4,422
Other current assets              6,505                    7,267
                              ----------               ----------
   Total current assets          10,854                   11,689
Non-current assets               14,866                   10,548
                              ----------               ----------
   Total                      $  25,720                $  22,237
                              ==========               ==========

Liabilities and Stockholders' Equity
Current liabilities           $   7,455                $  10,559
Non-current liabilities           1,593                      104
                              ----------               ----------
   Total liabilities              9,048                   10,663
Stockholders' equity             16,672                   11,574
                              ----------               ----------
   Total                      $  25,720                $  22,237
                              ==========               ==========