EXHIBIT 99.1


MOLECULAR DEVICES CORPORATION ANNOUNCES ADOPTION OF STOCKHOLDER RIGHTS PLAN AND
INCREASE TO SHARE REPURCHASE PROGRAM

SUNNYVALE, Calif., Oct. 25 /PRNewswire/ -- Molecular Devices Corporation, Inc.
(Nasdaq: MDCC) announced that its Board of Directors has approved the adoption
of a Stockholder Rights Plan under which all stockholders of record as of
November 16, 2001 will receive rights to purchase shares of a new series of
Preferred Stock. In addition, the Board of Directors has authorized the officers
of the Company to repurchase an additional 1.5 million shares of its issued and
outstanding Common Stock in accordance with the Company's previously announced
share repurchase program.

STOCKHOLDER RIGHTS PLAN

The Rights Plan is designed to enable all Molecular Devices Corporation
stockholders to realize the full value of their investment and to provide for
fair and equal treatment for all stockholders in the event that an unsolicited
attempt is made to acquire Molecular Devices Corporation. The adoption of the
Rights Plan is intended as a means to guard against abusive takeover tactics and
is not in response to any particular proposal.

The rights will be distributed as a non-taxable dividend and will expire ten
years from the record date. The rights will be exercisable only if a person or
group acquires 20 percent or more of the Molecular Devices Common Stock or
announces a tender offer for 20 percent or more of the Common Stock. If a person
acquires 20 percent or more of the Company's Common Stock, all rightsholders
except the buyer will be entitled to acquire Molecular Devices Common Stock at a
discount. The effect will be to discourage acquisitions of more than 20 percent
of Molecular Devices Common Stock without negotiations with the Board.

The rights will trade with Molecular Devices' Common Stock, unless and until
they are separated upon the occurrence of certain future events. The rights
distribution is not taxable to the stockholders. The Molecular Devices Board of
Directors may terminate the Rights Plan at any time or redeem the rights prior
to the time the rights are triggered. Additional details regarding the Rights
Plan will be outlined in a summary to be mailed to all stockholders following
the record date.

SHARE REPURCHASE PROGRAM

On August 2, 2001, the Company announced that its Board of Directors had
approved the repurchase of up to an aggregate of 1.5 million shares of its
Common Stock. As previously announced, the Company has repurchased all of the
1.5 million shares that were previously authorized for repurchase. "Based on
current market prices, we believe that our stock continues to be undervalued and
that the repurchase program is a good investment of available funds," said
Joseph D. Keegan, Ph.D., the Company's President and Chief Executive Officer.
"The Board believes that the continuation of the repurchase program is in the
best interests of the Company's stockholders." Accordingly, the Board of
Directors has authorized the officers of the Company to repurchase an additional
1.5 million shares of its issued and outstanding Common Stock.

In accordance with the repurchase program, the repurchases will be made from
time to time on the open market at prevailing market prices or in negotiated
transactions off the market. The





Company has no commitment or obligation to obtain all or any portion of the
shares authorized for repurchase, and the timing and amount of any shares
repurchased will be determined by management based on its evaluation of market
conditions and other factors.

Molecular Devices Corporation is a leading supplier of high-performance
bioanalytical measurement systems that accelerate and improve drug discovery and
other life sciences research. Molecular Devices' systems and consumables enable
pharmaceutical and biotechnology companies to leverage advances in genomics and
combinatorial chemistry by facilitating the high-throughput and cost-effective
identification and evaluation of drug candidates. Molecular Devices' instrument
systems are based on its advanced core technologies that integrate its expertise
in engineering, molecular and cell biology, and chemistry. Molecular Devices
enables its customers to improve research productivity and effectiveness, which
ultimately accelerates the complex process of discovering and developing new
drugs.

This press release contains "forward-looking" statements. Any statements
contained in this press release that are not statements of historical fact may
be deemed to be forward-looking statements. Words such as "believes,"
"anticipates," "plans," "predicts," "expects," "estimates," "intends," "will,"
"continue," "may," "potential," "should," "confident" and similar expressions
are intended to identify forward-looking statements. There are a number of
important factors that could cause the results of Molecular Devices Corporation
to differ materially from those indicated by these forward-looking statements,
including, among others, risks detailed from time to time in the Company's SEC
reports, including its Annual Report on Form 10-K for the year ended December
31, 2000 and its most recent Quarterly Report on Form 10-Q. Molecular Devices
Corporation does not undertake any obligation to update forward-looking
statements.