HAUPPAUGE, N.Y., May 7, 2003--United-Guardian, Inc. (AMEX:UG) reported today that both sales and earnings set new records for the company, with quarterly earnings nearly equaling earnings for the entire first half of the prior fiscal year.

Sales reached a record $3,217,533 as compared to $2,382,448 for the same period in 2002, an increase of 35%. Net earnings after taxes for the quarter were $703,429 ($.14 per share) versus $437,912 ($.09 per share) for the same period last year, an increase of 61%.

Ken Globus, President of United-Guardian, stated "We are extremely pleased with the very strong start to the year that we have experienced, and are proud to have reached a new company milestone, with quarterly sales exceeding $3 million for the first time in the company's history. With April sales exceeding $1 million and incoming orders continuing to be very strong, we are very optimistic about our prospects for achieving record sales and earnings this year."

"We attribute our strong sales this quarter to the continuing efforts we are making in conjunction with our international marketing partners to continue to increase the market penetration of our core product lines", continued Mr. Globus. "Having just launched two new product lines that should begin to find their way into new products by the end of this year, and with our continuing efforts to bring to market novel and innovative products, we believe that we are well positioned to continue to increase our sales over the next few years."

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, pharmaceuticals, and specialty industrial products.

NOTE: This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause Registrant's actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission.

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HAUPPAUGE, N.Y., March 20, 2003--United-Guardian, Inc., (AMEX:UG) reported today that after-tax earnings for FY-2002 were $1,421,505 ($.29 per share) on sales of $9,091,416, down from earnings of $1,891,010 ($.39 per share) on sales of $9,583,682 during the previous fiscal year.

Despite the lower sales and earnings the continued profitability of the company has resulted in a steady increase in its financial strength, with retained earnings now at a record $7,057,000, up from $6,124,000 a year ago.

"While revenue and earnings were down from last year, we continue to be very profitable at a time when many other companies are struggling" stated Ken Globus, President of United-Guardian. Our balance sheet continues to grow stronger each year, with working capital up from $8,501,914 at the end of 2001 to $9,578,365 at the end of 2002, and our current ratio increasing from 9.1 to 1 to 10.4 to 1 as of December 31st, extremely healthy by any standard."

"Despite the decline in sales last year we have been experiencing a tremendous resurgence in sales that began in December and has continued into the first quarter of 2003. We expect this to result in first quarter sales exceeding $3 million for the first time in the company's history, which we anticipate will also result in record earnings. While too early to tell whether this is a trend that will continue throughout the year, it certainly is an excellent start to the year."

"In addition to the significant increase in our core product sales recently, we are also in the process of launching two exciting new product lines this year that we believe will generate significant revenue for us over the next few years. These new lines, combined with several other ongoing projects, should place us in an excellent position to increase our sales in the coming years, especially if the global economies improve."

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, pharmaceuticals, and specialty industrial products.

This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause Registrant's actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission.

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HAUPPAUGE, N.Y., December 9, 2002--United-Guardian, Inc. (AMEX:UG) reported today that based on projected earnings for this fiscal year, as well as anticipation of a stronger year in 2003, its Board of Directors has declared a dividend of $.10 per share, which will accrue to stockholders of record as of December 20, 2002, and will be paid on January 8, 2003.

Kenneth H. Globus, President of United-Guardian, stated, "While we expect our earnings this year to be down from last year as a result of the continued weak economic conditions in the U.S. and overseas, we still expect to end the year with a healthy profit and even healthier balance sheet. We continue to believe that profits should be shared with our stockholders as long as we retain sufficient capital to be able to fund our capital needs for the foreseeable future. Since our retained earnings exceed $7 million, we have more than adequate resources to fund any ongoing and future projects. In addition, we are optimistic that our planned introduction of several new products in the next few months will enable us to increase our sales over the next few years even if the world economies continue to remain weak."

United-Guardian is a manufacturer of personal and health care products, pharmaceuticals, cosmetic bases, and specialty industrial products.

This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause Registrant's actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission.

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HAUPPAUGE, N.Y., November 5, 2002--United-Guardian, Inc. (AMEX:UG) today released its financial results for the third quarter of 2002. Sales for the third quarter were strong, with only a 5% decrease from last year, while earnings decreased from $434,456 in 2001 to $258,190 in 2002. For the 9 month period sales declined by 11% from $7,625,049 last year to $6,796,553 this year, with a corresponding decline in net earnings for the 9 month period from $1,513,834 in 2001 to $987,389 in 2002.

Kenneth H. Globus, President of United-Guardian, stated: "In light of the weak economic conditions that continue to prevail in most parts of the world, we were not surprised that sales for the period were below last year's figures, but we expect this situation to change as the world economies improve and demand for personal care products increases. Although our gross margins have declined due to decreased sales volume, we are actively monitoring our overhead costs and believe that our margins will improve as sales increase. We have already experienced a very strong start to our fourth quarter, and are optimistic that our fourth quarter will be stronger than last year. We also are excited about several new product introductions that will be occurring over the next few months that we believe will put us in an excellent position to increase our presence in the personal care market."

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, pharmaceuticals, and specialty industrial products.

This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause Registrant's actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission.

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HAUPPAUGE, N.Y., August 2, 2002--United-Guardian, Inc. (AMEX:UG) today reported that sales for the three-month period ended June 30, 2002 showed a modest decline from $2,593,955 in 2001 to 2,328,168 this year, a decrease of about 10%.

Net earnings for the three-month period were $291,287 ($.06 per share) versus $443,262 ($0.09 per share) in the same period last year.

For the six months ended June 30, 2002 United-Guardian reported sales of $4,710,616 versus $5,423,800 for the same period in fiscal 2001. Net earnings for the first six months were $729,199 ($.15 per share) versus $1,079,378 ($0.22 per share) for the same period in fiscal 2001.

Ken Globus, United-Guardian's President, stated "Considering the global economic conditions it is not surprising that our sales and earnings lag behind last year. While many previously profitable companies are showing losses, we have been able to maintain our profitability, and in fact have continued to increase our financial strength, as is evidenced by a current ratio that has increased from 9 to 1 at the end of last year to 18 to 1 now."

"We are continuing to work on some very promising projects," continued Mr. Globus, "including the development of the next generation of our widely used Lubrajel(R) line of water-based moisturizing gels. We are also continuing our ongoing project with Boston University's School of Dental Medicine for the use of Clorpactin(R), our proprietary antimicrobial product, in the treatment of periodontal disease. A preliminary clinical trial last year indicated that the product appeared to have excellent potential, and we plan to conduct additional clinical trials using an improved form of the product that will easier to use."

"We are confident that as the economy improves the sales of our core product lines will continue to improve, and that those sales will be further increased as some of our ongoing projects come to fruition and begin to generate revenue."

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, pharmaceuticals, and specialty industrial products.

This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause Registrant's actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission.

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HAUPPAUGE, N.Y., May 9, 2002--United-Guardian, Inc. (AMEX:UG) today reported net earnings for the first quarter of 2002 of $437,912 ($.09 per share) on revenue of $2,382,448, as compared to earnings of $636,116 on revenue of $2,829,845 for the same period in 2001.

Sales of the company's Eastern Chemical subsidiary declined 27%, while sales of its Guardian Laboratories division, which accounts for most of the company's revenues, declined only 14%.

Ken Globus, the President of United-Guardian, stated, "While we are disappointed that we were not able to maintain the steady sales and earnings increases that we have experienced over the past few years, we were still very profitable this quarter and our financial health continues to grow stronger. At a time when many previously profitable companies are showing losses and laying off workers, we have been able to continue our profitability and maintain our work force, which will be to our benefit when the economy picks up. The fact that sales of our Eastern Chemical subsidiary declined as much as they did was not surprising in light of our recent efforts to downsize that operation with the ultimate goal of selling it so that we can concentrate our resources on the expansion of the Guardian Laboratories division."

Mr. Globus also indicated that the company is confident that its revenues will begin to increase again as the economy picks up and some of its new projects come to fruition. One such project is for the development of a new water-based moisturizing gel that is compatible with a much greater variety of personal care products, enabling it to be used in formulations with which the company's current Lubrajel(R) product line is not compatible. This should provide the company with many new opportunities with customers that previously were unable to utilize its products. The company also has an ongoing project with Boston University to test one of its antimicrobial products for the treatment of periodontal diseases.

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, pharmaceuticals, and specialty industrial products.

This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause Registrant's actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission.

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HAUPPAUGE, N.Y., March 22, 2002--United-Guardian, Inc., (AMEX:UG) today reported that despite the unfavorable business climate during 2001 it has once again had a very profitable year, with net earnings after taxes of $1.9 million ($.39 per share) on revenue of $9.6 million for the fiscal year ended December 31, 2001.

"While revenue and earnings were down slightly from the record sales and earnings of FY-2000, we are very pleased to have been able to withstand the economic downturn in 2001 as well as we have", stated Kenneth H. Globus, President of United-Guardian. "While many other companies reported significant earnings decreases, our earnings this year were down less than 8%. Some of this decline was due to an effort on the part of some customers to minimize their year-end inventories, which was confirmed by a resurgence of orders in January".

The company reported that later this year it expects to introduce a new product line that will be a supplement to, and improvement on, its very successful Lubrajel(R) line of water-based moisturizers and lubricants. The new product line is expected to expand the uses currently available with the Lubrajel line, as well as provide enhanced moisturizing capabilities.

"We are very excited about the new product line, and anticipate that it will generate new business for us not only with existing customers but with new customers whose products were not compatible with the existing line of Lubrajel products. We are also continuing to work on several other exciting projects, including the use of one of our existing antimicrobial products for periodontal use; the development of a carrier for a new type of antiviral product for the prevention of sexually transmitted diseases; and our continuing work with a major consumer products company that will be incorporating a new type of Lubrajel into a consumer product line that is currently marketed worldwide. While some of these projects are long-term, all of them have the potential to increase revenue substantially over the next several years."

United-Guardian is a manufacturer of cosmetic ingredients, personal and health care products, pharmaceuticals, and specialty industrial products.

This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements about the company's expectations or beliefs concerning future events, such as financial performance, business prospects, and similar matters, are being made in reliance upon the "safe harbor" provisions of that Act. Such statements are subject to a variety of factors that could cause Registrant's actual results or performance to differ materially from the anticipated results or performance expressed or implied by such forward-looking statements. For further information about the risks and uncertainties that may affect the company's business please refer to the company's reports and filings with the Securities and Exchange Commission.

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