NOVEN ADDED TO NASDAQ BIOTECHNOLOGY INDEX

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Miami, FL, November 20, 2003 -- Noven Pharmaceuticals, Inc. (NASDAQ: NOVN) today announced that it expects to be added to the NASDAQ Biotechnology Index (NBI) effective Monday, November 24, 2003.

Launched in 1993, the NASDAQ Biotechnology Index includes pharmaceutical and biotechnology companies as classified by the FTSE™ Global Classification System. The Index is ranked on a semi-annual basis in May and November and serves as the basis for the iShares NASDAQ Biotechnology Index Fund^SM (IBB). All securities in the NASDAQ Biotechnology Index are listed on the NASDAQ National Market and meet minimum requirements including market value and average daily share volume. For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit www.nasdaq.com.

Noven Pharmaceuticals, Inc., headquartered in Miami, Florida, is a leading developer of advanced transdermal drug delivery technologies and prescription transdermal products. For additional information on Noven, visit www.noven.com.

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