Biocoral Receives French Patent Approval.

Business/Health Editors

NEW YORK--(BUSINESS WIRE)--May 24, 2001

Biocoral, Inc. (OTC:BICR) announced that following its application in 1997 for the new patent "Coral block-bone cells", it recently received approval for its patent in France from INPI (Institut National de la Propriete Industrielle) the French Government Agency Patent Office.

INPI, after a lengthy examination of the Company's application, granted the patent innovation which is valid for 20 years from the date of application in 1997.

Biocoral, a natural coral derived bone graft substitute, is widely used by numerous surgeons and practitioners because of its biocompatibility, resorbability, Osseo conduction and safety. These accredited qualities will be highly enhanced by a newly developed tissue engineering technique which deals with mesenchymal cells. These cells are obtained from a superficial biopsy excised from the patient, and are in vitro introduced by means of a bone promoter into bone cells and directly in the core of a Biocoral block, giving rise to a hybrid bone auto graft, i.e., Coral Block-Bone Cells.

Nasser Nassiri, the Chairman and Chief Executive Officer of Biocoral, Inc. commented, "The long collaboration for the last few years between the high tech company "Biocoral, Inc." and accredited institutional Scientifics and researchers has resulted in an international new patent application which has now been granted in France. The Company believes that in the near future this new patent will receive approval in other European countries as well as in North America where the patent application has been filed and is already pending."

In addition, the range of clinical application is wide open to the field of bone regeneration (orthopaedics, oral and maxillo facial surgery) and, in particular, osteoporosis where the Company has developed and owns several patents.

The Company, together with its wholly owned subsidiaries, owns various patents on its technologies most of which have been granted and issued in the United States by the U.S Department of Commerce Patent and Trademark Office, and in Canada, Australia, Japan, the European community and various other countries through their official governmental patent offices.

Biocoral, Inc., a Delaware corporation, (the "Company") is an international biomaterials "tissue-engineering" company specializing in the research and development of proprietary health care patented high technology and biomaterials. Through its subsidiaries, the Company researches, develops, manufactures and commercialize bone graft substitutes and other high tech patented biomaterials in a number of countries outside the United States.

The information contained in this press release, including any "forward looking" statements within the meaning of section 27A of the securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-KSB and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company.