The Hamiltons said they were "absolutely delighted and relieved" that the investigation against them following sex allegations had been dropped. But they hit out at the police handling of the case and described publicist Max Clifford as "lower than vermin".
"This is obviously wonderful, wonderful news," Mrs Christine Hamilton told Sky News. "We are enormously relieved and I feel quite light-headed, I have to say."
Mrs Hamilton said she "never had the slightest concern we were not going to be vindicated". But the process had left her "traumatised mentally and physically".
"I said when we were arrested on the 10th of August that if they brought charges then I was a banana and I am not a banana, so I never really expected them to go on with this."
She said the case brought the police into disrepute. "The amount of money that has been spent in the last few months on this so-called investigation is a scandal. If they had done what they claimed, which is asked us to come and talk, they could have cleared it up with minimal cost to the taxpayer.
"I have no feelings about Miss Milroy-Sloane. Max Clifford- well, I think my husband described him as lower than vermin and I would concur with that."
Later, outside her house in Cheshire, she said: "I have mixed emotions - not that I ever thought they were going to bring charges against us, because that would be preposterous. But it's just such a scandalous waste of police time. It's taken four months for them to decide there is no case to answer."
Sipping champagne given to her by photographers, Mrs Hamilton went on: "I just wish I was with Neil - it's awful that he is still with his solicitor. It would be nice to share it with him and give him a hug - I will have to give him one down the phone."
Mr Neil Hamilton said he was angry at the investigation. "This whole thing was unnecessary from the start," the former minister told Sky News. "I didn't ask for the allegations to be made against me. They were always baseless, totally unfounded, and now the police have agreed with us."
His solicitor, Mr Michael Coleman, said Mr Hamilton's expression "went from delight to anger to delight to anger" as he heard the decision. Mrs Hamilton said later it was the Sun that had first told her the investigation was being dropped, not her solicitor or the police.