Bio-Plexus reports second quarter/6 months results; Revenues rose 263 percent for six months.

TOLLAND, Conn.--(BUSINESS WIRE)--Aug. 5, 1996--Bio-Plexus Inc. (NASDAQ:NM:BPLX), designer, developer, manufacturer and marketer of safety medical products under the Punctur-Guard(R) name, today reported unaudited results for the second quarter ended June 30, 1996.

For the second quarter, the company incurred a net loss of $2,893,000 or 42 cents per share, compared with a net loss of $3,344,000 or 71 cents per share for the same period of the prior year. Sales for the second quarter of 1996 rose 265 percent to $730,000 versus $200,000 for the quarter ended June 30, 1995. Per share amounts are based on weighted average shares outstanding of 6,809,217 in the second quarter of 1996 and 4,726,906 in the second quarter of 1995.

Net loss for the six months ended June 30, 1996 was $5,667,000 or 85 cents per share, compared with a net loss of $6,835,000 or $1.45 per share for the first six months of 1995. First half sales for 1996 rose 263 percent to $1,183,000 from $326,000 for the same period last year. Per share results are based on weighted average shares outstanding of 6,693,000 for the first six months of 1996 and 4,725,871 for the same period last year.

"The increased revenues reflect growing demand for our Punctur-Guard(R) safety needle by safety-conscious health care organizations, and we expect this trend to continue. A year ago we did not have the manufacturing capacity to approach larger accounts, but with the recent installation of our next generation needle assembly and packaging system, we are now positioned to supply the substantial quantities required by some of the biggest institutions," said Ron Haverl, Chairman and Chief Executive Officer.

"Our recently announced 510K approval from the U.S. Food and Drug Administration for Bio-Plexus to market its Punctur-Guard(R) Winged Set has generated growing demand in the marketplace. We anticipate sales and shipments of this product to begin during the third quarter of this year," he continued.

Bio-Plexus expects to receive 510K approval soon for its needle disposal unit that works in conjunction with its Drop It(TM) needle holder introduced earlier this year.

"We are pleased with the progress Bio-Plexus has made and are optimistic that we will continue to see increased sales and widespread excitement over the introduction of new products throughout the balance of the year," Haverl concluded.

Bio-Plexus Inc.
Financial Highlights (Unaudited)

                  For the three months ended  For the six months ended
                     6/30/96       6/30/95      6/30/96       6/30/95

Revenues             $730,000      $200,000     $1,183,000    $326,000
Net loss           (2,893,000)   (3,344,000)    (5,667,000) (6,835,000)
Net loss per
 common share         ($.42)        ($.71)         ($.85)      ($1.45)
Weighted average
 common shares
 outstanding         6,809,217     4,726,906     6,693,000    4,725,871

CONTACT: Porter, Le Vay & Rose Inc.

Marilynn Meek, 212/564-4700

or

Bio-Plexus Inc.

Christine Tamburro, 860/871-8601