Bio-Plexus Announces Q3 Revenues.

Business Editors and Health/Medical Writers

BIOWIRE2K

VERNON, Conn.--(BW HealthWire)--Oct. 23, 2000

Bio-Plexus today announced its revenues for the third quarter ended September 30, 2000.

Total revenue was $1,163,000 for the quarter, compared with $1,291,000 for the same period a year ago. Revenue in the two prior quarters of 2000 were $1,542,000 for first quarter and $776,000 for second quarter. Medical device product revenue contributed $1,151,000 for third quarter of 2000, compared to $1,122,000 for the same quarter in 1999. Revenue in 1999 included $148,000 in services revenue from Johnson & Johnson Medical, Inc. (JJM) related to the PROTECTIV(TM) ACUVANCE(TM) I.V. Safety Catheter development project and the PICC introducer development project with Teleflex Medical, a division of Teleflex, Inc. (NYSE:TFX) for Bard Access Systems, a division of C.R. Bard (NYSE:BCR) Safety Excalibur(R) Introducer. Both projects were completed in 1999 with no revenues in 2000.

John S. Metz, president and CEO commented on third quarter sales results, "We are pleased to see this significant recovery over second quarter sales. Our distributors have been working off their excess inventory, and we appear to be coming out of the inventory over-hang situation." Mr. Metz added, "During the quarter, we reported the launches of two new medical devices featuring BIO-PLEXUS(R) PUNCTUR-GUARD(R) technology by our licensees. They were the JJM I.V. Safety Catheter and the Bard Access Systems, Safety Excalibur(R) Introducer supplied by Teleflex Medical."

For the nine-month period ending September 30, 2000 revenue was $3,481,000 compared with $5,038,000 for the same period in 1999. During the 1999 period the Company received $1,325,000 in service revenue associated with the JJM I.V. Safety Catheter project and the Teleflex Medical project. As stated earlier, these projects were completed in 1999 with no revenue in 2000. Medical device revenues were $3,272,000 for the nine months ending September 30, 2000 compared with $3,668,000 for the same period in 1999. Medical device revenue for the first nine months of 1999 included $529,000 in international sales. Metz commented, "While we are disappointed with our medical device sales to distributors for the first three quarters, we are encouraged by the sell-through of our products by distributors to our end user customers, i.e. hospitals, labs and clinics."

Full financial results for the third quarter are expected to be released in mid-November.

Bio-Plexus, Inc. (NASDAQ: BPLX), designs, develops, manufactures and holds U.S. and international patents on safety medical needles and other products under the PUNCTUR-GUARD(R), DROP-IT(R), and PUNCTUR-GUARD REVOLUTION(TM) brand names. In studies by the Centers for Disease Control (MMWR, January 1997) and ECRI (Health Devices, June 1998 and October 1999) PUNCTUR-GUARD(R) needles ranked highest of all devices studied. Accidental needlesticks number about one million per year in the United States and can result in the transmission of deadly diseases including HIV and Hepatitis B and C.

NOTE: THIS PRESS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF SUCH TERMINOLOGY AS "BELIEVES," "EXPECTS," "MAY," "WILL," "SHOULD," "ANTICIPATES" OR DERIVATIONS OR NEGATIVES THEREOF OR COMPARABLE TERMINOLOGY, OR DISCUSSIONS OF STRATEGY THAT INVOLVES RISKS AND UNCERTAINTIES. THE COMPANY'S ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF, AMONG OTHER FACTORS, GENERAL ECONOMIC CONDITIONS AND GROWTH IN THE SAFETY MEDICAL PRODUCTS INDUSTRY, COMPETITIVE FACTORS AND PRICING PRESSURES, CHANGES IN PRODUCT MIX, PRODUCT DEMAND, RISK OF DEPENDENCE ON THIRD PARTY SUPPLIERS AND FINANCIERS, ABILITY TO OBTAIN FINANCING, AS WELL AS OTHER FACTORS DESCRIBED FROM TIME TO TIME IN THE COMPANY'S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION OR DISCUSSED IN OTHER PRESS RELEASES ISSUED BY THE COMPANY.