Hi-Tech Pharmacal Announces Special Dividend of $1.50 per Share

  Hi-Tech Pharmacal Announces Special Dividend of $1.50 per Share

Business Wire

AMITYVILLE, N.Y. -- November 30, 2012

Hi-Tech Pharmacal Co., Inc. (NASDAQ:HITK) announced that it will pay a special
one-time dividend of $1.50 per share. The dividend will be payable on December
28, 2012 to shareholders of record on December 13, 2012.

David Seltzer, President and CEO commented on the dividend: “This special
dividend is the result of the success we have had over the last several years.
It is also a reflection of our positive outlook and our Board's and management
team's confidence in our ability to continue to generate cash to fund future
growth. Paying a special dividend of this amount allows us to return cash to
shareholders while retaining a significant amount of cash to fund future
growth through R&D and acquisitions.”

Hi-Tech is a specialty pharmaceutical company developing, manufacturing and
marketing generic and branded prescription and OTC products. 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
OTC products for the diabetes marketplace. Hi-Tech's ECR Pharmaceuticals
subsidiary markets branded prescription products.

This press release contains certain future projections and forward-looking
statements (statements which are not historical facts) with respect to the
anticipated future performance of Hi-Tech made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such
future projections and forward-looking statements are not assurances, promises
or guarantees and investors are cautioned that all future projections and
forward-looking statements involve significant business, economic and
competitive risks and uncertainties, many of which are beyond Hi-Tech's
ability to control or estimate precisely, including, but not limited to, the
impact of competitive products and pricing, product demand and market
acceptance, new product development, the regulatory environment, including
without limitation, reliance on key strategic alliances, availability of raw
materials, fluctuations in operating results, loss of customers or employees,
the possibility that legal proceedings may be instituted against Hi-Tech and
other results and other risks detailed from time to time in Hi-Tech's filings
with the Securities and Exchange Commission. The actual results will vary from
the projected results and such variations may be material. These statements
are based on management's current expectations and assumptions concerning the
future performance of Hi-Tech and are naturally subject to uncertainty and
changes in circumstances. No representations or warranties are made as to the
accuracy or completeness of any of the information contained herein,
including, but not limited to, any assumptions or projections contained herein
or forward-looking statements based thereon. We caution you not to place undue
reliance upon any such forward-looking statements which speak only as of the
date made, except to the extent specifically dated as of an earlier date.
Hi-Tech is under no obligation, and expressly disclaims any such obligation,
to update, alter or correct any inaccuracies herein, whether as a result of
new information, future events or otherwise.


Hi-Tech Pharmacal Co., Inc.
William Peters, CFO, 631-789-8228
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