Varian Medical Systems’ Board Of Directors Authorizes Repurchase Of Another Two Million Shares Of Stock | Varian

Varian Medical Systems’ Board Of Directors Authorizes Repurchase Of Another Two Million Shares Of Stock

Palo Alto, Calif. - February 14, 2003 - Varian MedicalSystems, Inc. (NYSE: VAR) today announced that its Board of Directors has
authorized the Company to repurchase up to two million shares through the end
of February, 2004.  The new authorization is effective immediately and
follows the completion of an earlier repurchase authorization.

"We're generating operating cash flow of about $40 million per quarter and we
expect that the continuation of our stock repurchase program will be accretive
to earnings," said Richard M. Levy, chairman, president and CEO of Varian
Medical Systems.  "These stock repurchases should enhance shareholder
value by helping to offset dilution from employee stock option exercises and
our employee stock purchase program."

Under the earlier repurchase authorization that became effective in August,
2001, Varian Medical Systems spent $83.7 million to repurchase two million
shares of stock at an average price of $41.86 per share.  As of the end
of the first fiscal quarter ended December 27, 2002, the company reported $321
million in cash and marketable securities.

The stock repurchases will be made from time to time through brokers and
dealers on the New York Stock Exchange in privately negotiated transactions
with nonaffiliated stockholders.  Shares will be retired and cancelled
upon repurchase.

Varian Medical Systems, Inc., (NYSE:VAR) of Palo Alto, California is
the world's leading manufacturer of integrated cancer therapy systems, which
are treating thousands of patients per day.  The company is also a
premier supplier of X-ray tubes and flat-panel digital subsystems for imaging
in medical, scientific, and industrial applications.  Varian Medical
Systems employs approximately 2,750 people who are located at manufacturing
sites in North America and Europe and in its 50 sales and support offices
around the world.  In its most recent fiscal year ended September 27,
2002, Varian Medical Systems reported sales of $873 million.  Additional
information is available on the company's investor relations web site at www.varian.com .