Biomet Expands Share Repurchase Program.

Business Editors, Health & Medical Writers

WARSAW, Ind.--(BUSINESS WIRE)--Sept. 23, 2002

(Nasdaq:BMET) Biomet, Inc. announced today that the Board of Directors of the Company has authorized the purchase of up to an additional $100 million of the outstanding Common Shares of the Company in open market or privately negotiated transactions. The number of shares repurchased, if any, will be dependent upon market conditions. Purchases may be made from time to time between September 23, 2002 and September 22, 2003. The Company has purchased approximately $317.4 million of the $324 million share repurchase programs announced in December 2001, March 2002 and June 2002.

Dane A. Miller, President and Chief Executive Officer of the Company, said "The expansion of our share repurchase program reflects today's poor investment environment and we continue to believe that our shares represent an excellent investment for the Company. Our continued high levels of earnings have produced cash in excess of our immediate needs, and we view this program as an investment in our future."

As of September 20, 2002 the Company had 259,992,000 shares outstanding. Biomet Common Shares are traded on the NASDAQ system under the symbol "BMET".

Biomet, Inc. and its subsidiaries design, manufacture and market products used primarily by musculoskeletal medical specialists in both surgical and non-surgical therapy, including reconstructive and fixation devices, electrical bone growth stimulators, orthopedic support devices, operating room supplies, general surgical instruments, arthroscopy products, spinal implants, bone cements, bone substitute materials, craniomaxillofacial implants and dental reconstructive implants and associated instrumentation. Headquartered in Warsaw, Indiana, Biomet and its subsidiaries currently distribute products in more than 100 countries.

For further information contact Greg W. Sasso, Vice President, Corporate Development and Communications at [phone] or Barbara Goslee, Manager, Corporate Communications at [phone].

This press release contains certain statements that are "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, as amended. Although the Company believes that the assumptions, on which the forward-looking statements contained herein are based, are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or non-occurrence of future events. There can be no assurance that the forward-looking statements contained in this press release will prove to be accurate. The inclusion of a forward-looking statement herein should not be regarded as a representation by the Company that the Company's objectives will be achieved.

All of Biomet's financial information may be obtained on our website at www.biomet.com or you may contact us by e-mail at [e-mail].