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Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Merck's Generic Pharmaceutical Business
Date:8/31/2007

PITTSBURGH, Aug. 31 /PRNewswire-FirstCall/ -- Mylan Laboratories Inc. (NYSE: MYL) ("Mylan") announced today that it is commencing tender offers to purchase for cash any and all of its outstanding 5.750% Senior Notes due 2010 (CUSIP No. 628530AE7) and 6.375% Senior Notes due 2015 (CUSIP Nos. 628530AF4, 628530AC1) (collectively, the "Notes").

Mylan is making the tender offers as part of a broader strategy to establish its new global capital structure and in preparation for the consummation of its previously announced proposed acquisition of Merck's generic pharmaceutical business pursuant to a Share Purchase Agreement, dated May 12, 2007, between Mylan and Merck Generics Holding GmbH, Merck S.A., Merck Internationale Beteiligung GmbH and Merck KGaA (the "Transaction").

In conjunction with the tender offers, Mylan is also soliciting consents from holders of each series of Notes to eliminate substantially all of the restrictive covenants and certain events of default in the indenture governing the Notes (the "Proposed Amendments"). Holders cannot tender their Notes without delivering their consent and cannot deliver a consent without tendering their Notes.

The tender offers and consent solicitations are being made upon the terms and subject to the conditions described in the Offer to Purchase and Consent Solicitation Statement and related Letter of Instructions dated August 31, 2007. Each of the tender offers will expire at 12:00 midnight, New York City time, on September 28, 2007, unless any tender offer is extended at the sole discretion of Mylan (such date and time, as it may be extended, the "Expiration Time"). Holders must tender Notes and deliver their related consents to the Proposed Amendments at
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SOURCE Mylan Laboratories Inc.
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