Biosearch Medical Products and Hydromer Reach Agreement.

SOMERVILLE, N.J.--(BW HealthWire)--May 13, 1999--

-Biosearch Medical Products, Inc. (NASDAQ bulletin board: BMPI), announced that it has reached an agreement with Hydromer, Inc. to exchange each of its shares for an amount of $0.20 subject to shareholders' approval.

Martin C. Dyck, President of Biosearch indicated: "The Biosearch shareholders now have the opportunity to extract value out of their holdings. Many of these investors have stood by the Company through its lean years. Before we approved presenting this transaction to our shareholders we investigated the value of the Company using many models. Our evaluation expert helped us to the conclusion that $0.20 per share was in fact fair and in the best interests of the shareholders."

Biosearch has worked with Hydromer, Inc. an affiliated company by providing contract coating services using Hydromer's coating chemicals for their customers. Biosearch also develops specialty coatings and procedures and uses them on our own products and/or the products of third parties through various O.E.M. arrangements. The business combination of Hydromer and Biosearch creates an organization that can provide a wider variety of coating services.

The shareholders of Biosearch Medical Products, Inc. will vote on this transaction at their annual meeting which will take place on July 21, 1999.

For any questions please contact Martin C. Dyck, President, Biosearch Medical Products, Inc. 1-800-326-5976 or [e-mail]. Web Site http://www.biosearch.com