EATONTOWN, N.J., April 2 /PRNewswire/ -- Roberts Pharmaceutical
Corporation (Nasdaq: RPCX) announced today that the Company has filed its 1996
Annual Report on Form 10-K containing audited financial statements.  As a
result of (i) a newly adopted (March 13, 1997) position by the Securities and
Exchange Commission (SEC) Staff on accounting for convertible preferred stock
that is convertible at a discount to market, and (ii) payments and accrual of
dividends with respect to shares of its Convertible Preferred Stock during the
third and fourth quarters of 1996, the Company is required to recalculate the
previously reported (February 18, 1997) unaudited earnings per share figures
for the third and fourth quarters of 1996 and the full fiscal year ended
December 31, 1996.
    The SEC Staff on March 13, 1997 stated that any discount to the market
price of any company's common stock which is related to convertible preferred
stock issued by a company should be accounted for as an additional cost of the
instrument similar to preferred stock dividends for the sole purpose of
calculating a company's earnings per share.  For Roberts, this new SEC
guideline applies retroactively and only to the determination of 1996 earnings
per share and it does not affect any balance sheet or income statement account
reported by the Company.
    In August 1996, Roberts completed a private placement of 4,200,000 shares
of Convertible Preferred Stock.  Holders of shares of Convertible Preferred
Stock can convert such shares into shares of the Company's Common Stock
pursuant to a formula which provides for a 10% discount to the market price
for the Company's Common Stock.  Thus, in order to comply with the SEC Staff's
new position, the Company must revise its previously reported earnings per
share amounts for the third and fourth quarters of 1996 as well as for the
full year ended December 31, 1996. This adjustment to the earnings per share
calculation has no effect on the operating income and net income of the
Company which remain as previously announced for the third and fourth quarters
and the full fiscal year of 1996.
    After giving effect to these items, the Company's recalculated 1996
earnings per share are as follows:

         1Q      2Q        3Q         4Q        YEAR
      $(.22)   $.12     $(.40)    $(1.83)     $(2.44)

    Roberts Pharmaceutical Corporation, with operating subsidiaries in the
United States, Canada, and the United Kingdom, focuses on new health care
solutions through the acquisition and development of specialty
pharmaceuticals.  The Company's first proprietary product, PROAMATINE(R), was
recently launched in the U.S. as the first drug for treating orthostatic
hypotension.  AGRYLIN(TM), Roberts second pipeline product, has since been
launched as the first FDA approved drug for treating essential
thrombocythemia.

    This release may contain forward-looking statements which reflect
management's current views of future events and operations. These
forward-looking statements are based on assumptions and external factors,
including assumptions relating to regulatory action and competing products.
Any changes in such assumptions or external factors could produce
significantly different results.

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