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                            ICN Pharmaceuticals, Inc.
- --------------------------------------------------------------------------------
                (Name of Registrant as Specified in Its Charter)
                   ICN Committee to Maximize Shareholder Value
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The following is the text of a press release issued by the ICN Committee to
Maximize Shareholder Value on May 30, 2001:



          ICN Pharmaceuticals Shareholders' Committee Issues Statement

New York, New York. May 30, 2001 ... Herbert Denton, President of Providence
Capital Inc. and a member of the ICN Committee to Maximize Shareholder Value,
issued the following comment regarding remarks attributed to him and the
Committee by the Wall Street Journal and another publication this morning
concerning the possible outcome of the ICN Pharmaceuticals Inc. (NYSE: ICN)
annual meeting being held today. "In my conversations with the press, as The
Wall Street Journal noted but without quoting me, I have made clear that there
are no sure things and that the outcome of the meeting will only be known once
the polls are closed and the votes are counted. We continue to urge ICN
shareholders to exercise their right to vote."



Contact:

         Daniel Burch
         MacKenzie Partners, Inc.
         212-929-5500