Schering-Plough Declares Quarterly Dividends on Common Shares and 2007 Mandatory Convertible Preferred Stock

KENILWORTH, N.J., Feb. 29 /PRNewswire-FirstCall/ -- The Board ofDirectors of Schering-Plough Corporation (NYSE: SGP) today declared aquarterly dividend of 6.5 cents per common share. Payment will be made onMay 27, 2008, to shareholders of record at the close of business on May 2,2008. As of Dec. 31, 2007, there were 1,621,262,671 common sharesoutstanding. The Board of Directors today also declared a quarterly dividend of$3.75 per share on the 2007 Mandatory Convertible Preferred Stock. Paymentwill be made on May 15, 2008, to holders of record at the close of businesson May 1, 2008. As of Dec. 31, 2007, there were 10,000,000 shares of 2007Mandatory Convertible Preferred Stock outstanding. Schering-Plough is an innovation-driven, science-centered global healthcare company. Through its own biopharmaceutical research and collaborationswith partners, Schering-Plough creates therapies that help save and improvelives around the world. The company applies its research-and-developmentplatform to human prescription and consumer products as well as to animalhealth products. In November 2007, Schering-Plough acquired OrganonBioSciences, with its Organon human health and Intervet animal healthbusinesses, marking a pivotal step in the company's ongoing transformation.Schering-Plough's vision is to "Earn Trust, Every Day" with the doctors,patients, customers and other stakeholders served by its colleagues aroundthe world. The company is based in Kenilworth, N.J., and its Web site ishttp://www.schering-plough.com.

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