MGI PHARMA ANNOUNCES EXPIRATION OF TENDER OFFER FOR GUILFORD PHARMACEUTICALS NOTES DUE 2008

MGI PHARMA, INC. (Nasdaq:MOGN) announces results of its tender offer to purchase any and all of the outstanding 5% Convertible Subordinated Notes due July 1, 2008 of Guilford Pharmaceuticals Inc. (CUSIP Nos. 401829AA4 and 401829AB2 (the "Notes")). MGI PHARMA made the tender offer in connection with its wholly-owned subsidiary MGI GP, INC., formerly known as Guilford Pharmaceuticals Inc., as a result of the requirement to do so pursuant to the terms of the indenture under which the Notes were issued.

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