DPC and Thermo Electron Announce an Agreement for the Codevelopment of a New Clinical Chemistry Platform.

LOS ANGELES -- Diagnostic Products Corporation (NYSE:DP) and Thermo Electron Corporation (NYSE:TMO) announced that they have entered into an agreement for the codevelopment of a new, high throughput clinical chemistry platform. This platform will integrate with DPC's future immunochemistry platforms, and will be ideally suited for the medium and large volume laboratories both in the hospital and private laboratory segments. The combination of DPC's broad experience in immunochemistry with Thermo's clinical chemistry and automation expertise will provide clinical laboratories with a comprehensive diagnostic test solution that will automate most of their routine testing needs.

"This new development agreement extends the current relationship between Thermo and DPC to a new level," said Lew Rosenblum, President of Clinical Diagnostics at Thermo. "The existing distribution agreements, which were put in place in 2004 and cover Thermo's current clinical chemistry and automation products, have already generated excellent results in many European markets. The mutual commitment to develop the next-generation chemistry platform as a joint effort reflects the dedication of both companies to continue to build a strong, strategic partnership. Partnering with DPC also provides Thermo with access to the excellent distribution network that they have established throughout the world and will help ensure the global success of the new system.

"We are very excited about this new level of collaboration with DPC as it fits perfectly with our vision of the future," Rosenblum continued. "Both companies are focused on developing cost-efficient, automated and user-friendly systems with broad test menus, complemented with top level customer service. We expect customers will definitely benefit from this new collaboration, which combines core strengths of both companies."

"The new codevelopment agreement is very exciting for DPC as it will enable the company to offer a full clinical chemistry, immunoassay and automation solution for laboratories worldwide," said DPC's Ira Ziering, Senior Vice President, Business and Legal. "The ability to provide the full array of immunoassay and clinical chemistry automation is an important step in expanding our ability to provide excellent systems solutions for our worldwide customers."

The new system will be distributed exclusively by DPC worldwide except in selected European countries, where Thermo will also continue to sell its clinical chemistry and automation products.

About Thermo Electron Corporation

Thermo Electron Corporation is the world leader in analytical instruments. The company's instrument solutions enable its customers to make the world a healthier, cleaner and safer place. Thermo's Life and Laboratory Sciences segment provides analytical instruments, scientific equipment, services and software solutions for life science, drug discovery, clinical, environmental and industrial laboratories. Thermo's Measurement and Control segment is dedicated to providing analytical instruments used in a variety of manufacturing processes and in-the-field applications, including those associated with safety and homeland security. Based near Boston, Thermo has revenues of approximately $2.7 billion, and employs approximately 11,000 people in 30 countries. For more information, visit http://www.thermo.com.

The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth under the heading "Forward-Looking Statements" in the company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 2, 2005. These include risks and uncertainties relating to: the need to develop new products and adapt to significant technological change; dependence on customers that operate in cyclical industries; general worldwide economic conditions and related uncertainties; the effect of changes in governmental regulations; dependence on customers' capital spending policies and government funding policies; use and protection of intellectual property; exposure to product liability claims in excess of insurance coverage; retention of contingent liabilities from businesses sold; realization of potential future savings from new productivity initiatives; implementation of the company's branding strategy; implementation of strategies for improving internal growth; the effect of exchange rate fluctuations on international operations; identification, completion and integration of new acquisitions and potential impairment of goodwill from previous acquisitions. Thermo Electron undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

About Diagnostic Products Corporation

Diagnostic Products Corporation, founded in 1971, is the global leader dedicated exclusively to immunodiagnostics. DPC's product menu includes over 75 immunoassays and more than 360 specific allergens and allergy panels. In addition, DPC addresses the chemistry and laboratory automation testing needs of its customers through partnerships with manufacturers of chemistry systems and reagents. The combined chemistry and immunoassay menu is one of the largest and most diversified available, covering most laboratory tests requested. DPC also designs and manufactures automated laboratory instrumentation, which provides fast, accurate results while reducing labor and reagent costs. DPC sells its products to hospitals, clinics and laboratories in more than 100 countries. Additional Company information can be found on DPC's website at http://www.dpcweb.com.

Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These factors include the effects of governmental or other actions relating to the FDA's decision that its Application Integrity Policy should be applied to the Company or relating to the Company's Chinese affiliate; the rate of customer demand for the Company's products; the Company's ability to successfully market new and existing products; its dependence on certain suppliers; domestic and foreign government regulation; its ability to keep abreast of technological innovations and to translate them into new products; competition; political and economic instability in certain markets, including the movements of foreign currencies relative to the dollar; and other risks and uncertainties disclosed from time to time in the Company's SEC reports and filings.