Molecular Devices Announces Continuation of Share Repurchase Program

Molecular Devices Announces Continuation of Share Repurchase
Program 


SUNNYVALE, Calif., Feb. 17  /PRNewswire-FirstCall/ -- Molecular Devices
Corporation (NASDAQ:MDCC) today announced that its Board of Directors has
approved the continuation of Molecular Devices' share repurchase program and
authorized the repurchase of up to an additional 1.5 million shares of its
common stock.  In August 2001, Molecular Devices announced that its Board of
Directors had approved the current share repurchase program.  Since August
2001, Molecular Devices has repurchased approximately 4.3 million shares of its
common stock pursuant to the share repurchase program.  "Based on current
market prices, we continue to believe that our stock is undervalued and that
the continuation of the repurchase program is a good investment of available
funds," said Joseph D. Keegan, Ph.D., the Company's President and Chief
Executive Officer.  The repurchases will be made from time to time on the open
market at prevailing market prices or in negotiated transactions off the
market.

About Molecular Devices Corporation

Molecular Devices Corporation is a leading supplier of high-performance
bioanalytical measurement systems that accelerate and improve drug discovery
and other life sciences research.  The Company's systems and consumables enable
pharmaceutical and biotechnology companies to leverage advances in genomics,
proteomics and parallel chemistry by facilitating the high-throughput and
cost-effective identification and evaluation of drug candidates.  The Company's
solutions are based on its advanced core technologies that integrate its
expertise in engineering, molecular and cell biology and chemistry.  Molecular
Devices enables its customers to improve research productivity and
effectiveness, which ultimately accelerates the complex process of discovering
and developing new drugs.

This press release contains "forward-looking" statements, including statements
related to future repurchases of common stock. Any statements contained in this
press release that are not statements of historical fact may be deemed to be
forward-looking statements. Words such as "believes," "anticipates," "plans,"
"expects," "will," and similar expressions are intended to identify
forward-looking statements. There are a number of important factors that could
cause the results of Molecular Devices Corporation to differ materially from
those indicated by these forward-looking statements, including, among others,
risks detailed from time to time in the Company's SEC reports, including its
Annual Report on Form 10-K for the year ended December 31, 2003, as amended,
and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2004.
 In addition, Molecular Devices may repurchase all of the shares currently
authorized for repurchase under the share repurchase program, or no such
shares, or any amount in between, and may suspend or terminate the share
repurchase program at any time, depending on the trading price of its common
stock, market conditions, determinations following the date of this press
release to use its available funds for other purposes, or for other reasons.
Molecular Devices Corporation does not undertake any obligation to update
forward-looking statements. 

DATASOURCE: Molecular Devices Corporation



CONTACT:  Tim Harkness of Molecular Devices Corporation, [phone]



Web site:  http://www.moleculardevices.com/ 

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