Press Releases

Hi-Tech Pharmacal Announces Addition Of New Board Member

Amityville, NY, May 15, 2002– Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) announced today that Robert M. Holster has joined its Board of Directors.

Mr. Holster, age 55, is President and Chief Operating Officer of Health Management Systems, Inc. (NASDAQ: HMSY), a company providing information based revenue enhancement services to healthcare providers and payors. Earlier in his career, Mr. Holster was President and Chief Executive Officer of HHL Financial Services Inc., at the time one of the nation's largest healthcare accounts receivable management companies. Previously, Mr. Holster served in a number of executive positions including Chief Financial Officer of Macmillan, Inc. and Controller of Pfizer Laboratories, a division of Pfizer, Inc.

"We are honored to have Bob Holster as our Board member", stated David Seltzer, President and CEO of Hi-Tech. "He brings to our company more than twenty years of senior management experience in the financial and healthcare environments. We highly value his strong financial background combined with his broad based expertise that encompasses both the pharmaceutical and provider financial management aspects of the healthcare industry. We are confident that Mr. Holster's expertise and proven leadership will benefit Hi-Tech, as we position the company for significant near term growth."

Hi-Tech is a specialty pharmaceutical company developing, manufacturing and marketing branded and generic prescription and OTC products for the general healthcare industry. 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 release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.