ICN ACQUIRES RADIATION MONITORING BUSINESS FROM SIEMENS

Costa Mesa, California, June 17 - ICN Pharmaceuticals, Inc. (NYSE: ICN) today announced that it has entered into an agreement for the acquisition of the Dosimetry Service business division from Siemens Medical System, Inc., a leading provider of worldwide commercial services used to measure occupational exposure to radiation.

ICN said the acquisition comes as the company is expanding its own radiation detection service from the United States into international markets. Terms of the agreement were not disclosed. Closing of the acquisition is expected in July, after satisfaction of customary closing conditions.

"This acquisition is a perfect fit for ICN - and couldn't come at a better time," said Sandi Nemecek, worldwide director for ICN's Dosimetry Service. "Siemens' reputation, range of products and broad customer base will strengthen our launching pad as we begin to take ICN's Dosimetry Service into international markets for the first time."

The Siemens Dosimetry Service business of Siemens Medical Systems, Inc., a subsidiary of Siemens Corporation, posted worldwide revenues of US$9.3 million for the fiscal year ending September 1995. In 1994, worldwide revenues for dosimetry services were estimated at $200 million, of which approximately $80 million to $100 million was in the United States.

The Siemens Dosimetry Services, headquartered in Illinois, includes a full range of the most technologically advanced radiation exposure monitoring devices for personnel exposed to ionizing radiation, including X-rays. The services involve personal monitoring devices, such as badges worn by individuals; maintenance of employee radiation histories; periodic processing of monitoring devices; calculation of radiation exposures; and submission of reports in compliance with regulatory requirements. Leading customer groups include universities, hospitals and government laboratories, complementing ICN's strengths in the medical office and power plant customer base.

ICN noted that demand for dosimetry services is driven by regulatory requirements, as well as employer and employees' desires to monitor radiation and ensure safety.

"Our mission is to assist commercial and government entities in maintaining worker safety and aid them in complying with regulatory exposure guidelines with the highest quality service," added Nemecek. "This acquisition is another step in meeting that goal."

The acquisition is subject to U.S. government clearance under the Hart-Scott-Rodino Antitrust Improvements Act.

Siemens Medical Systems, Inc. is a leading supplier of advanced medical electronic systems and products. The company employs approximately 5,000 people in the U.S. and has annual sales of about $1.3 billion.

ICN manufactures and markets a broad range of prescription and over- the-counter pharmaceuticals, medical diagnostics and biotechnology research products, in over 60 countries in North and Latin America, Eastern and Western Europe and the Pacific Rim.

Distributed by PR Newswire on behalf of ICN Pharmaceuticals

Global Dosimetry Solutions, based in Irvine, California, is one of the world's largest providers of radiation dosimetry services. GDS offers a full range of services for measuring ionizing radiation primarily through film, thermoluminescent and track etch technologies. Since early 1970, the company has continually provided state-of-the-art personal radiation monitoring services to hospitals, medical and dental offices, university and national laboratories, nuclear power plants and other industries. GDS provides services to more than 500,000 people globally. Global Dosimetry Solutions is majority owned by American Capital Strategies, Ltd. (NASDAQ: ACAS), a $3.5 billion investment fund headquartered in Bethesda, Maryland. For more information, please visit: www.dosimetry.com.