1. First Quarter Results Millipore Conference Call, April 20, 2004

2. 2 Forward-looking statements/risk factors In order to take advantage of the safe harbor provisions of the private securities litigation reform act of 1995, you should understand that we will be making forward-looking statements in this conference. These statements involve a number of risks and uncertainties, all of which are set forth in detail in our annual report on form 10-K, subsequent quarterly reports on form 10-Q, and our other SEC filings. We assume no obligation to update any forward-looking statement based on new information, future events or any other reason.

3. 3 Q1 2004 - better than expected n 19% revenue growth over Q1 2003 n 10% revenue growth in local currency* n 25% earnings per share growth n Biotechnology - 15% growth in local currency n Life sciences - 13% growth in local currency n Other bioscience - 7% growth in local currency Use of Non-GAAP Financial Measures* All references to "local currencies" represent the foreign currency balances translated, in all periods presented, at Millipore's predetermined budgeted exchange rates for 2004, thus excluding the impact of fluctuations in the actual foreign currency rates. In addition to analyzing financial results at actual rates of exchange, management uses this presentation because we believe that the local currency results provide a clearer presentation of underlying business trends separate from the impact of foreign currency. The U.S. dollar results represent the foreign currency balances translated at actual exchange rates.

4. 4 Americas 44% Europe 36% Asia/Pacific 20% Q1 FY 2004 Q1 2004 revenues (in local currencies) Biotechnology 34% Life Science 15% Other Bioscience Applications 51% Q1 FY 2004 Consumables and Services 83% Equipment 17% Q1 FY 2004

5. 5 Q1 revenue growth - by geographic region Americas$ 89$ 7814%13% Europe907422%6% Asia/Pacific433523%12% Total U.S. dollar$222$18719%10% % Growth Q1 Local $ in millions Q1 2004Q1 2003% Growth Currency

6. 6 Q1 Revenue growth - by market Biotechnology $70$6115% Life Science302713% Other Bioscience103967% Total local currency20318410% Foreign Exchange193 Total U.S. dollar$222$18719% Q1 $ in millions Q1 2004Q1 2003 % Growth

7. 7 Biotechnology – quarterly revenue growth and trends (in local currencies) $ millions Quarterly Growth Q1 2000 – Q1 2004 Revenues by Quarter Q1 2000 – Q1 2004 ‘00 ‘01 ‘02 ’03 ‘04

8. 8 Over 2000 biologicals in pipeline or launched 1228 222 355 87 405 Pharmaprojects V5, from PJP Publications, NYC & London, April, 2004 *Embrel is classified as a fusion protein in Pharmaprojects, was added to query totals Over 500 therapeutic antibodies in pipeline or launched 47 74 19 22 387 Biological pipeline

9. 9 Life science – quarterly revenue growth and trends (in local currencies) $ millions Quarterly Growth Q1 2000 – Q1 2004 Revenues by Quarter Q1 2000 – Q1 2004 ‘00 ‘01 ‘02 ’03 ‘04

10. 10 $ millions Quarterly Growth: Q1 2000 – Q1 2004 Revenues by Quarter: Q1 2000 – Q1 2004 Other bioscience – quarterly revenue growth and trends (in local currencies) ‘00 ‘01 ‘02 ’03 ‘04

11. 11 Actual Dollars (In millions, except EPS) Q1 2004Q1 2003 Growth Sales$ 222.5$ 187.519% Gross Profit121.6105.116% % of Sales54.6%56.1% SG&A67.860.013% % of Sales 30.5%32.0% R&D16.013.816% % of Sales 7.2%7.4% Operating income 37.831.3 21% % of Sales17.0%16.7% Net income$ 27.2$ 21.328% EPS$ 0.55$ 0.4425% Q1 income statement

12. 12 Currency effects Euro/Dollar, 1/2/04 - 4/2/04 Yen/Dollar, 1/2/04 - 4/2/04

13. 13 Guidance, 2004 n Revenue growth: n Actual dollar: 10 to 12% n Local currency: 6 to 8% n Revenue growth by market - local currency n Biotechnology: 7 to 9% n Life Sciences: 8 to 10% n Other Bioscience:5 to 7% n Gross Margins: averaging 54% of revenue n SG&A: averaging 30% of revenue n R&D: between 7 and 7.5% of revenue n Contribution: approximately 17% of revenue n EPS: $2.19 to $2.29 per share n Capital Expenditures $65 - $70M n Depreciation and amortization $44M n Cash from operations $130 - $135M