Bio-Plexus reports 3rd quarter/9 months results; sees continued sales growth in '96.

TOLLAND, Conn.--(BUSINESS WIRE)--Nov. 13, 1996--Bio-Plexus, Inc. (NASDAQ, NM: BPLX), designer, developer, manufacturer, and marketer of safety medical products under the Punctur-Guardr name, today reported results for the third quarter and nine months ended Sept. 30, 1996.

Third quarter net loss was $3,205,000 or 46 cents per share versus a net loss of $4,331,000 or 87 cents per share for the comparable quarter last year. Revenues in the third quarter rose to $610,000 from $193,000 for the 1995 third quarter. Per share amounts are based on weighted average shares outstanding of 6,914,170 in the third quarter of 1996 and 4,998,196 in the third quarter of 1995.

Loss for the nine months was $8,872,000 or $1.31 per share on 6,767,261 average shares outstanding compared with a net loss of $11,165,000 or $2.32 per share on 4,817,644 average shares outstanding for the same period last year. Revenues rose to $1,793,000 from $518,000 for the same period last year.

"The increase in revenues reflects the expansion of the company's marketing staff and sales force. In early June, we entered into an agreement with an Italian company to market and sell our blood collection needles and holders throughout Italy. During September, we signed a five-year agreement with a European medical supply company to market and sell Bio-Plexus products throughout France, Switzerland, Germany and the United Kingdom," said Ron Haverl, chairman and chief executive officer.

"During the quarter, we received 510K approval from the U.S. Food and Drug Administration to market our needle disposal container. We anticipate sales and shipments of this product to begin during the first quarter of 1997," he added.

The company expects continued sales growth during the remainder of 1996, but expects ongoing losses from operations to continue until significant additional increases in monthly sales and further reductions in manufacturing costs are achieved, Haverl concluded. -0-

                                BIO-PLEXUS, INC.
                        Financial Highlights (Unaudited)


                 For the Three Months Ended   For the Nine Months Ended
                    9/30/96     9/30/95          9/30/96      9/30/95

Revenues           $610,000     $193,000       $1,793,000     $518,000

Net (loss) before
 extraordinary
 item            (3,205,000)  (3,352,000)      (8,872,000) (10,186,000)

Extraordinary
 item                --          979,000           --          979,000

Net loss         (3,205,000)  (4,331,000)      (8,872,000) (11,165,000)

Net loss per
 common share
 before
 extraordinary
 item                 --            (.67)          --            (2.11)

Net (loss)             (.46)        (.87)          (1.31)        (2.32)

Weighted average
 shares
 outstanding      6,914,170    4,998,196       6,767,261     4,817,644

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David Mandy