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

KENILWORTH, N.J., June 24 The Board of Directorsof Schering-Plough Corporation (NYSE: SGP) today declared a quarterly dividendof 6.5 cents per common share. Payment will be made on Aug. 26, 2008, toshareholders of record at the close of business on Aug. 1, 2008. As of March31, 2008, there were 1,621,414,244 common shares outstanding.

The Board of Directors today also declared a quarterly dividend of $3.75per share on the 2007 Mandatory Convertible Preferred Stock. Payment will bemade on Aug. 15, 2008, to holders of record at the close of business on Aug.1, 2008. As of March 31, 2008, there were 10,000,000 shares of 2007 MandatoryConvertible 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. Schering-Plough's vision is to "Earn Trust, Every Day" withthe doctors, patients, customers and other stakeholders served by itscolleagues around the world. The company is based in Kenilworth, N.J., and itsWeb site is www.schering-plough.com.

SOURCE Schering-Plough Corporation

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