Biopharmaceutics, Inc. Completes Short-Term Debt Restructuring.

BELLPORT, N.Y.--(BUSINESS WIRE)--May 19, 1998--Biopharmaceutics, Inc. (BOPM:OTCBB) announced today that effective March 31, 1998, it has completed the restructuring of its short-term debt. The restructuring included the issuance of common shares at the market price in exchange for the cancellation of approximately $275,000 of accounts payable and the restructuring of the $4.8 million note originally payable at the rate of $175,000 per month, issued in connection with the acquisition of CMT. Under the terms of the restructuring, the note holder has agreed to accept $100,000 per month beginning in April 1998, thereby extending the balance of the note repayment over 42 months from that date.

Edward Fine, President of Biopharmaceutics, Inc., stated, "We are very pleased that we have been able to restructure both of our short-term notes used in the acquisition of CMT. As of March 31st, as a result of the restructuring, the Company's current ratio has improved from .39 at Sept 30, 1997 to .78 as of March 31, 1998. This is a significant improvement which will allow us to manage our cash flow more easily."

This press release contains forward looking statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. Actual results could differ materially from those projected in the forward looking statements.

CONTACT: Biopharmaceutics, Bellport

Stuart Fine, 516/286-5800