Bradley Pharmaceuticals Initiates the Stern Stewart Eva-R Financial Management System.

FAIRFIELD, N.J.--(BUSINESS WIRE)--July 28, 1998--BRADLEY PHARMACEUTICALS, INC. (NASDAQ NMS:BPRX) today announced that it will implement the EVA(R) (Economic Value Added) financial management system, developed by management consultants Stern Stewart & Co. EVA(R) is a tool used by managers to identify, measure and reward value creation. EVA(R) growth has been demonstrated to increase the stock price and MVA (Market Value Added) of companies using the EVA(R) financial management system. To ensure the success of creating shareholder value, Bradley will implement an EVA(R) incentive compensation plan in 1999 and eventually extend this plan company-wide. This new system will foster an improved corporate culture focusing on increasing production and improving capital allocation throughout Bradley, while increasing the wealth of both stockholders and Bradley associates alike.

The EVA(R) financial management system will encourage Bradley associates to make decisions that are clearly modeled, monitored and communicated and they will be compensated in terms of their impact on EVA(R). It also provides management and associates with a clear, consistent framework to use in setting goals, measuring performance, planning and budgeting, evaluating strategies and capital investments, valuing acquisitions and paying for performance.

EVA(R) is one of the most well-known financial management systems and has been recently adopted by Goldman Sachs, CS First Boston and other top investment banks as a better way to measure corporate performance. Other companies that have implemented EVA(R) include Coca-Cola (NYSE: KO), Briggs and Stratton (NYSE: BGG), Becton Dickinson (NYSE: BDX), SmithKline Beecham (NYSE: SBH), Eli Lilly (NYSE: LLY), Bausch & Lomb (NYSE: BOL), and SPX (NYSE: SPW).

Chairman and Chief Executive Officer, Daniel Glassman stated, "To reap the full benefits of becoming an "EVA(R) Company" all of Bradley's associates must realize that we can increase EVA by our daily decisions, actions, energy and vision. Furthermore, everyone should understand about how increasing EVA(R) will be rewarded through an innovative bonus plan. The purpose of establishing EVA(R) is to motivate managers to create value and align all associates' interests with those of stockholders, the owners of Bradley."

BRADLEY PHARMACEUTICALS, INC. manufactures and markets brandname products and over-the-counter pharmaceuticals and health-related products throughout the United States as well as in twenty-six international markets. Bradley Common A Shares (BPRX) are traded on the NASDAQ National Market System.

Please visit our website at www.bradpharm.com

This release may contain forward-looking statements which reflect management's current views of future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to regulatory action, capital requirements and competing products. And changes in such assumptions are external factors and could produce significantly different results.

    CONTACT: Daniel Glassman                           Dennis Soter
              Chairman and Chief Executive Officer      Partner
              Bradley Pharmaceuticals, Inc.             Stern Stewart
              973/882-1505, Ext. 210                    212/261-0600