Molecular Devices Announces Share Repurchase Program

Molecular Devices Announces Share Repurchase Program 


SUNNYVALE, Calif., July 29  /PRNewswire-FirstCall/ -- Molecular Devices
Corporation (NASDAQ:MDCC) today announced that its Board of Directors has
approved the repurchase of up to an aggregate of 1.5 million shares of its
common stock.  "Based on current market prices, we believe that our stock is
undervalued and that 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.

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 combinatorial 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 related to the recent acquisition of Axon Instruments and other 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, its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2004, and its
Registration Statement on Form S-4 (Registration No. 333-114934), as amended. 
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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