Millipore (MIL) 8-K Millipore Revenues Up 14 Percent in Second Quarter, EPS Up 24 Percent

Exhibit 99.1

Investor Contact	Media Contact
Geoffrey Helliwell	Thomas Anderson
Treasurer	Vice President
(978) 715-1041	Corporate Communications
(800) 225-3384	(978) 715-1043
Geoffrey_Helliwell@Millipore.com	(800) 225-3384
	Thomas_Anderson@Millipore.com

Millipore Revenues Up 14 Percent in Second Quarter, EPS Up 24 Percent

Billerica, Massachusetts, July 20, 2004 – Millipore Corporation (NYSE/MIL) announced today that its second quarter sales were $225 million, up 14 percent from the same period of 2003. In local currency revenue growth was 11 percent.

Second quarter earnings were $0.57 per share, up 24 percent from $0.46 per share in the second quarter of last year. Earnings results include a $0.03 per share expense associated with the transition of the CEO announced in the second quarter.

Fran Lunger, Millipore’s CEO, said: “Our second quarter matched our strong first quarter performance, with growth in all geographic regions and markets. Of particular note: biotech market revenue growth of 21 percent in local currency. In the life science market we had growth of 9 percent in local currency compared to the same period last year, and in other bioscience we achieved 5 percent growth in local currency.”

Millipore’s second quarter revenue growth by geography was as follows($’s in millions):

Revenues by Geographic Area	Q2 2004		Q2 2003		% Growth		% Growth Local Currency
Americas	$	97	$	84	15	%	15	%
Europe		88		76	15	%	9	%
Asia/Pacific		40		36	13	%	6	%
Total	$	225	$	196	14	%	11	%

Use of Non-GAAP Financial Measures

All references to “local currencies” represent the foreign currency balances translated, in all periods presented, at Millipore’s predetermined budgeted exchange rates for 2004, thus excluding the impact of fluctuations in the actual foreign currency rates. In addition to analyzing financial results at actual rates of exchange, management uses this presentation because we believe that the local currency results provide a clearer presentation of underlying business trends separate from the impact of foreign currency. The U.S. dollar results represent the foreign currency balances translated at actual exchange rates.

Quarterly Earnings Call

Millipore will have a Live Webcast Quarterly Earnings call today, July 20, 2004 at 5:30 p.m., Eastern Time. Please visit the Millipore web site atwww.millipore.com for details about this event. The replay of the webcast will be available online the day after the event.

About Millipore

Millipore is a multinational, high technology company that provides technologies, tools and services for the development and production of new therapeutic drugs. It serves the life science research, biotechnology and pharmaceutical industries. For more information about Millipore visit www.millipore.com.

Millipore Forward Looking Statement Disclaimer

The matters discussed herein, as well as in future oral and written statements by management of Millipore Corporation that are forward-looking statements, are based on current management expectations that involve substantial risks and uncertainties which could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Potential risks and uncertainties that could affect Millipore’s future operating results include, without limitation, foreign exchange rates; regulatory delay in the approval of new therapeutics and their ultimate commercial success; further consolidation of drug manufacturers; competitive factors such as new membrane technology; lack of availability of raw materials or component products on a timely basis; inventory risks due to shifts in market demand; change in product mix; conditions in the economy in general and in the bioscience markets in particular; potential environmental liabilities; the inability to utilize technology in current or planned products due to overriding rights by third parties; difficulties inherent in research and development activities; and the risk factors listed from time to time in Millipore’s filings with the SEC.

Millipore Corporation

Consolidated Statements of Income

(In thousands, except per share data)

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2004			2003			2004			2003
Net sales	$	224,668		$	196,367		$	447,137		$	383,819
Cost of sales		103,241			88,535			204,151			170,860
Gross profit		121,427			107,832			242,986			212,959
Selling, general and administrative expenses		66,976			61,814			134,758			121,839
Research and development expenses		16,037			14,069			32,034			27,878
Restructuring and other charges		— ��			(604	)		—			(604	)
Operating income		38,414			32,553			76,194			63,846
Interest income		225			379			641			764
Interest expense		(2,101	)		(4,189	)		(4,979	)		(8,337	)
Income before income taxes		36,538			28,743			71,856			56,273
Provision for income taxes		8,044			6,467			16,167			12,661
Net income	$	28,494		$	22,276		$	55,689		$	43,612
Diluted income per share	$	0.57		$	0.46		$	1.11		$	0.90
Diluted weighted average shares outstanding		50,305			48,834			50,092			48,676

Geoffrey E. Helliwell

Treasurer

(800) 225-3384 or (978) 715-1041

Millipore Corporation

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

	June 30, 2004		December 31, 2003
Assets
Cash and cash equivalents	$	94,117	$	147,027
Accounts receivable, net		187,997		174,979
Inventories		139,237		137,757
Deferred income taxes		51,092		51,092
Other current assets		9,278		5,507
Total current assets		481,721		516,362
Property, plant and equipment, net		320,886		316,890
Deferred income taxes		77,226		77,226
Intangible assets, net		23,832		25,348
Goodwill		9,433		9,433
Other assets		5,496		6,014
Total assets	$	918,594	$	951,273
Liabilities and shareholders’ equity
Current portion of long-term debt	$	—	$	75,000
Accounts payable		56,433		60,836
Accrued expenses		69,200		69,819
Accrued retirement plan contributions		6,999		9,443
Accrued income taxes payable		10,022		7,294
Total current liabilities		142,654		222,392
Long-term debt		190,000		216,000
Other liabilities		52,122		51,840
Shareholders’ equity		533,818		461,041
Total liabilities and shareholders’ equity	$	918,594	$	951,273

Geoffrey E. Helliwell

Treasurer

(800) 225-3384 or (978) 715-1041