FOR IMMEDIATE RELEASE
            CARL C. ICAHN RESPONDS TO MYLAN'S ANNOUNCED BYLAW CHANGE,
                              COMMENCES LITIGATION


New York, New York, February 22, 2005
Contact:  Susan Gordon (212) 702-4309

                  Carl C. Icahn  announced  today that his  affiliated  company,
High  River  Limited   Partnership,   has  commenced  a  lawsuit  against  Mylan
Laboratories, Inc. and its directors in the United States District Court for the
Middle District of Pennsylvania challenging, among other things, the validity of
the recent  bylaw  amendments  announced by Mylan on Friday.  The lawsuit  seeks
injunctive relief to allow Mr. Icahn appropriate time to select and notify Mylan
of his proposed slate of directors at the next meeting of Mylan's  shareholders.
On Friday,  Mylan  announced that it would not hold its 2005 annual  shareholder
meeting  until  October  28,  2005,   but  purported  to  require  any  director
nominations to be completed within 10 days of the announcement. Mr. Icahn stated
that in his opinion "these amendments,  in combination with a very late date for
the annual meeting, represent a desperate attempt by the Mylan Board to entrench
itself by weakening the processes for corporate democracy at Mylan."

Mr. Icahn  continues  to be  concerned  that the Mylan Board may seek to avoid a
shareholder  vote by  restructuring  its transaction  with King, and, given this
most recent  action by the Mylan  Board,  he  believes  that his concern is well
justified.  Mr. Icahn reminds the Board that if Mylan does  determine to attempt
to proceed  with a  transaction  with King  without  seeking  Mylan  shareholder
approval, he will seek to hold Board members personally responsible.

                  High  River  continues  to be  willing  to stand by its  prior
proposal to acquire Mylan for $20 per share without a "break-up fee",  which Mr.
Icahn believes would set up a bidding  process for Mylan.  Mr. Icahn noted that,
especially in light of the Novartis AG / Eon Labs / Hexal transactions announced
Monday,  he continues to believe that there would likely be several  synergistic
bidders for Mylan on a friendly basis.  Mr. Icahn also believes that,  after all
they have been through,  Mylan  shareholders  should have the right to decide if
they want to put the  company up for sale.  They  certainly  should be given the
right to determine if they desire that  alternative  over any King  alternative.
Mr. Icahn noted that the Mylan Board has not contacted him regarding his $20 per
share  proposal and that it should do so  promptly,  as it will not be available
indefinitely.

SECURITY  HOLDERS ARE ADVISED TO READ THE PROXY  STATEMENT  AND OTHER  DOCUMENTS
RELATED TO  SOLICITATION  OF PROXIES BY MR.  ICAHN AND HIS  AFFILIATES  FROM THE
STOCKHOLDERS OF MYLAN  LABORATORIES  INC. FOR USE AT ITS SPECIAL MEETING AND ITS
ANNUAL  MEETING,  IN EACH CASE, (A) WHEN AND IF THEY BECOME  AVAILABLE,  BECAUSE
THEY WILL CONTAIN IMPORTANT  INFORMATION,  INCLUDING INFORMATION RELATING TO THE
PARTICIPANTS IN ANY SUCH PROXY  SOLICITATION,  AND (B) WHEN AND IF COMPLETED,  A
DEFINITIVE  PROXY  STATEMENT  AND A FORM  OF  PROXY  WHICH  WILL  BE  MAILED  TO
STOCKHOLDERS  OF MYLAN  LABORATORIES  INC. AND WILL BE AVAILABLE AT NO CHARGE AT
THE  SECURITIES  AND  EXCHANGE   COMMISSION'S  WEBSITE  AT   HTTP://WWW.SEC.GOV.
INFORMATION  RELATING TO THE PARTICIPANTS IN A PROXY  SOLICITATION IN CONNECTION
WITH THE SPECIAL  MEETING IS CONTAINED IN THE  SCHEDULE  14A, AS AMENDED,  FIRST
FILED  BY MR.  ICAHN  AND  HIS  AFFILIATES  WITH  THE  SECURITIES  AND  EXCHANGE
COMMISSION  ON OCTOBER 14, 2004 WITH  RESPECT TO MYLAN  LABORATORIES  INC.  THAT
SCHEDULE 14A IS CURRENTLY  AVAILABLE AT NO CHARGE ON THE SECURITIES AND EXCHANGE
COMMISSION'S WEBSITE.