Bio-Plexus Reports 3rd Quarter Results.

TOLLAND, Conn.--(BUSINESS WIRE)--Nov. 19, 1997--Bio-Plexus, Inc. (NASDAQ:BPLX), the designer, developer, manufacturer and marketer of safety medical products under the Punctur-Guard(R) name, today reported results for the third quarter ended September 30, 1997.

The company's third quarter net loss decreased almost 30% to $.33 per share from the same period last year. Larry Krampert, Bio-Plexus president and CEO commented: "The significant improvement in loss per share reflects our progress in controlling costs. We will build on this momentum to enhance our partnering arrangements and focus on accelerating our move toward profitability." Revenue for the third quarter totaled $770,000.

Bio-Plexus holds U.S. and international patents on safety medical devices marketed under the Punctur-Guard name. These devices are designed to reduce the incidence of accidental needlesticks among healthcare workers, which number more than 800,000 per year in the United States. Accidental punctures from hollow-bore, blood-filled needles can result in the transmission of deadly diseases including HIV and hepatitis.

NOTE: This press release contains forward-looking statements, which are subject to change. The actual results may differ materially from those described in any forward-looking statements.

                           BIO-PLEXUS, INC.

                        CONDENSED BALANCE SHEET

                                       September 30,
                                           1997         December 31,
                                        (Unaudited)         1996
ASSETS
Current assets:
  Cash and cash equivalents          $   1,990,000    $   1,322,000
  Accounts receivable                      360,000          386,000
  Inventories
     Raw materials                       1,001,000        1,314,000
     Work-in-process                       351,000          271,000
     Finished goods                        408,000          271,000
                                         1,760,000        1,856,000
  Other current assets                     349,000          430,000
     Total current assets                4,459,000        3,994,000

Fixed assets, net                        7,986,000        8,305,000

Deferred debt financing expenses           103,000          164,000
Patents, net of amortization               114,000           55,000
Other assets                               302,000          302,000
                                     $  12,964,000    $  12,820,000

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LIABILITIES AND SHAREHOLDER'S EQUITY (DEFICIT)

Current liabilities:
  Current portion of long-term debt  $   1,982,000    $   3,225,000
  Accounts payable and accrued expenses    835,000        1,693,000
  Accrued interest payable                  70,000           27,000
  Accrued employee costs                   434,000          462,000
  Deferred revenue
   (Note 3)                              1,137,000                -
    Total current liabilities            4,458,000        5,407,000

CII debt, net                                    -          131,000
Other long-term debt, net                3,936,000        7,276,000
Accrued financing expense - CII debt             -          550,000
Redeemable Class A common stock             20,000           20,000
Redeemable common stock warrants           149,000          149,000

Shareholders' equity (deficit):
 Convertible preferred stock, no par
  value, 3,000,000                               -                -
  authorized, no shares issued and outstanding
 Common stock, no par value, 15,000,000
  authorized, 11,225,748 and 7,046,552
  shares issued and outstanding         61,789,000       46,887,000
 Accumulated deficit                   (57,388,000)     (47,600,000)
   Total shareholders' equity (deficit)  4,401,000         (713,000)
                                     $  12,964,000    $  12,820,000

The accompanying notes are an integral part of these
condensed financial statements.

-0-

                            BIO-PLEXUS, INC

                   CONDENSED STATEMENT OF OPERATIONS
                              (Unaudited)

                                             Three Months Ended
                                                September 30,

                                               1997           1996


Revenue
  Sales                                    $   770,000   $   610,000

Costs and expenses:
  Research and development                     364,000       383,000
  Other operating and engineering costs      1,227,000     1,096,000
  Selling, general and administrative        1,557,000     1,958,000

       Total operating costs and expenses    3,148,000     3,437,000


Financing expenses:
  CII debt:
     Interest expense                             -            6,000
     Amortization of deferred debt financing   182,000        20,000
  Other financing expenses                     214,000       352,000

    Total financing expenses                   396,000       378,000

Net loss                                   $(2,774,000) $ (3,205,000)
Less:  Imputed dividend on preferred
  stock  (Note 4)                             (500,000)         -

Net loss applicable to common stock        $(3,274,000) $ (3,205,000)


Net loss per common share (Note 2)         $     (0.33) $      (0.46)


Weighted average common shares
  outstanding (Note 2)                       9,985,246     6,914,170


The accompanying notes are an integral part of these condensed
financial statements.

CONTACT: Bio-Plexus

Carol Coburn

860/871-8601

[e-mail]