Biolase Technology Inc. Shareholders Re-Elect Directors; Management Confident of Continued Growth.

SAN CLEMENTE, Calif.--(BUSINESS WIRE)--June 3, 1999--

Shareholders of Biolase Technology, Inc. (NASDAQ: BLTI), which designs, develops, manufactures and markets laser-based systems for use in dental and medical applications, overwhelmingly reelected management's proposed slate of four directors. In addition, the company's Stock Option Plan was also approved and Price Waterhouse Coopers LLP was ratified as the company's independent public accountants for 1999.

Re-elected to the board of directors were: Federico Pignatelli, Biolase chairman; Jeffrey W. Jones, president and CEO of Biolase; George V. d'Arbeloff, CEO of Retail Solutions, Inc; and William A. Owens, vice chairman of Teledesic LLC.

During the meeting management reviewed successes of 1998, the first quarter of 1999 and outlined plans for the rest of 1999. Biolase's accomplishments in 1998 and in the first quarter of 1999 included obtaining important patents, clearances by the Food and Drug Administration (FDA), record sales in December and in the first quarter of 1999.

Management's review included the following:

Patents issued in 1998 and 1999 were for Laser Hydrokinetics (Patent No.5,741,247), Laser with Water Cooling (No.5,885,082 & 5,762,501) and one for Fluid Conditioning (No.5,785,521). All of these were significant additions to Biolase's patent portfolio. FDA clearances were obtained for the Millennium to treat all classes of cavity preparations.

Record sales for December of about $750,000 were more than any other month in 1998. Sales for the first quarter of 1999 were $1,785,983, a 580% increase over the same period in 1998, and exceeded total sales for all of 1998.

Sales and marketing plans for the remainder of 1999 recognize the education necessary to achieve Biolase's sales objectives. Key elements of this sales plan include courses and seminars where dentists experienced with the Millennium demonstrate on patients the clinical benefits of Hydrokinetic technology for hard and soft tissue procedures without using needles or a drill. Biolase has also significantly increased participation in international, national and regional dental conferences, alliances with key influential dentists, more advertisements and placement of articles in trade journals, monthly regional mailings and mass taxes publicizing courses and a new program called Laser Lunch and Learn. Laser Lunch and Learn is a program where Biolase sales representatives buy the dentist and his staff lunch and give presentations about the clinical and financial benefits of the Millennium.

Federico Pignatelli, chairman of Biolase commented, "We are pleased with the widespread support our shareholders have given the board. It is a clear indication of their trust in management. Looking forward, we are very confident that we can continue to grow in 1999, as the record results in the first quarter indicate. We are dedicated to building Biolase and increasing shareholder value on a consistent basis."

Biolase Technology, Inc. (www.biolase.com) manufactures and markets advanced dental, cosmetic, aesthetic, and surgical products, including the LazerSmile tooth whitening system (www.lazersmile.com), Hydrokinetic(TM) surgical cutting systems, and other advanced laser and non-laser based products for the professional and home consumer markets. The company's products incorporate patented and patent-pending technologies in the pursuit of painless surgery.

The matters discussed in this news release include forward-looking statements which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements. Such risks, uncertainties and other factors include, but are not limited to, the effect of actions of third parties, including governmental officials, the timely development and acceptance of new products, the impact of competitive products and pricing, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the reports on Forms 10-K and 10-Q. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.