Bentley Pharmaceuticals reports first quarter results; Gross margins double in period.

TAMPA, Fla.--(BUSINESS WIRE)--May 15, 1997--Bentley Pharmaceuticals, Inc. (AMEX: BNT) today reported that for the first quarter ended March 31, 1997, the company doubled its gross profit margins to 44 percent, or $1,790,000, from 21 percent, or $2,062,000, for the same period of the prior year despite sales that decreased to $4,078,000, from $9,698,000 in the previous year's first quarter. The company attributed the improved margins to the discontinuation of low margin product sales in France, and continued solid growth in sales of higher-margin products in Spain.

The company also reported a loss of $583,000, or 18 cents per common share for the 1997 quarter, before recording a provision for unrealized currency exchange loss in the amount of $243,000, resulting in a net loss for the quarter of $826,000 or 26 cents per common share, compared with a net loss of $679,000, or 21 cents per common share for the previous year's first quarter. Results for the prior year's first quarter included an extraordinary expense of $446,000, or 13 cents per common share.

James R. Murphy, president and chief executive officer of Bentley, said, "We are particularly pleased with the continuing sales growth and improved gross margins in our Spanish operations, which have partially offset the decrease in sales volume and low gross margins associated with the March 31, 1996 expiration of the Ceredase marketing agreement in France. We are aggressively pursuing our corporate strategy to emphasize promotion of high gross margin products as the key to achieving our goals and objectives."

By leveraging competitive advantages of relatively low-cost GMP accredited manufacturing capability, novel drug-delivery technologies and an international sales and marketing presence, Tampa-based Bentley Pharmaceuticals, Inc. is an emerging international pharmaceutical company with a broad and expanding line of off-patent drugs marketed in Spain that prevent or treat illnesses in the following therapeutic categories: cardiovascular, gastrointestinal, neurological and infectious diseases. -0-

                      BENTLEY PHARMACEUTICALS, INC.
            Condensed Consolidated Statement of Operations
                              (Unaudited)

                                   For the Three Months Ended
                                     3/31/97         3/31/96

Sales                             $4,078,000       $9,698,000

Cost of sales                      2,288,000        7,636,000

Gross margin                       1,790,000        2,062,000

Total operating expenses           2,054,000        2,052,000

(Loss) income from operations       (264,000)          10,000

Non-operating items, net             562,000          689,000

Net loss                           ($826,000)       ($679,000)

Net loss per common share              ($.26)           ($.21)

Weighted average common shares
  outstanding                      3,346,000        3,330,000
-0-

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, 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.

CONTACT: Bentley Pharmaceuticals Inc., Tampa

Michael D. Price, 813/286-4401

Chief Financial Officer

or

Porter, Le Vay & Rose, Inc., New York

L. B. Stauffer, 212/564-4700