Molecular Devices Announces the Completion of its Acquisition of LJL BioSystems

Molecular Devices Corporationompany%> today announced that it has completed its acquisition of LJL BioSystems, Inc. stockholders of both companies have approved the transaction, and all regulatory requirements and other conditions have been satisfied. Under the merger agreement announced on June 8, 2000, Molecular Devices will issue approximately 4.45 million shares of its common stock in the transaction (valued at approximately $348.8 million based on the closing price of Molecular Devices' common stock on August 30, 2000) and assume options and warrants to acquire approximately 675,000 additional shares. The merger will be accounted for as a pooling of interests.

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About Molecular Devices. Molecular Devices Corporation is a leading developer of high-performance, bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. Molecular Devices' systems enable pharmaceutical and biotechnology companies to leverage advances in genomics and combinatorial chemistry by facilitating the high throughput and cost effective identification and evaluation of drug candidates. Molecular Devices' instrument systems are based on its advanced core technologies which integrate its expertise in engineering, molecular and cell biology and chemistry and are fundamental tools for drug discovery and life sciences research. Additional information can be found at www.moldev.com.

Forward Looking Statements. This press release contains "forward-looking" statements. For this purpose, 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," "would" 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. Factors that could cause or contribute to such differences include, but are not limited to, the risks and other factors described in the company's Registration Statement on Form S-4 filed in connection with the acquisition of LJL BioSystems and the company's most recent Form 10-K and other periodic filings with the Securities and Exchange Commission.