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Hi-Tech Pharmacal Added to the NASDAQ Biotechnology Index

Posted on: Monday, 14 November 2005, 09:01 CST

Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK), a specialty pharmaceuticals company, announced today that the Company has been selected to be included in the NASDAQ Biotechnology Index(R) (NASDAQ: NBI) effective with the market open on Monday, November 21, 2005.

The securities in the Index must be listed on the NASDAQ National Market and be classified according to the FTSE(TM) Global Classification System as either biotechnology or pharmaceutical. Additionally, securities in the Index must meet minimum requirements for market value, average daily share volume and seasoning as a public company among other criteria.

David Seltzer, President and CEO, commented, "We are pleased to join other growth companies in our sector, and believe that our addition to the Index testifies to the Company's consistent performance."

About Hi-Tech Pharmacal

Hi-Tech Pharmacal is a specialty pharmaceutical company developing, manufacturing and marketing branded and generic products. The Company specializes in difficult to manufacture liquid and semi-solid dosage forms and produces a range of sterile ophthalmic, otic and inhalation products. The Company's Health Care Products Division is a leading developer and marketer of branded prescription and OTC products for the diabetes marketplace.

Forward-looking statements (statements which are not historical facts) in this Press Release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not promises or guarantees and investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to the impact of competitive products and pricing, product demand and market acceptance, new product development, the regulatory environment, including without limitation, the outcome of the SEC staff's investigation and any conclusions reached by the staff which are adverse to the Company, its officers or directors, reliance on key strategic alliances, availability of raw materials, fluctuations in operating results and other results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These statements are based on management's current expectations and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward looking statements which speak only as of the date made. Hi-Tech is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Business Wire

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