Bone Care International, Inc. Files a Registration Statement to Sell 3,000,000 Shares of Common Stock.

Business Editors, Medical Writers

MADISON, Wis.--(BUSINESS WIRE)--Sept. 12, 2000

Bone Care International, Inc. (NASDAQ:BCII) today announced the filing of a registration statement with the Securities and Exchange Commission ("SEC") relating to a proposed underwritten public offering of 3,000,000 shares of the Company's common stock. The underwriters will have an over-allotment option to purchase up to an additional 450,000 shares for thirty days following the completion of the public offering.

The Company intends to use the net proceeds from the offering to commercialize Hectorol Injection, complete FDA post-approval Phase IV commitments for Hectorol Injection, seek FDA approval and commercialize Hectorol Capsules in the pre-dialysis market, develop additional clinical indications for Hectorol Capsules, continue research and development activities, and for working capital and general corporate purposes.

Bone Care is a pharmaceutical company engaged in discovering, developing, and commercializing improved vitamin D-hormone therapies to treat secondary hyperparathyroidism in patients with kidney or renal disease, and osteoporosis, and other diseases including psoriasis and cancers of the prostate, breast, and colon.

Prudential Vector Healthcare Group, a unit of Prudential Securities, will act as lead manager, and U.S. Bancorp Piper Jaffray will act as a co-manager in the offering. A copy of the preliminary prospectus relating to this offering, when available, may be obtained from the offices of Prudential Securities, 111 8th Avenue, 5th Floor, New York, NY 10011; telephone number [phone]; facsimile number [phone].

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold and offers to buy may not be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

This press release contains forward-looking statements. Statements relating to future net sales, costs of sales, other expenses, profitability, financial resources, or products and production schedules, or statements that predict or indicate future events and trends and which do not relate solely to historical matters identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on management's beliefs as well as assumptions made by and information currently available to management. Accordingly, the Company's actual results may differ materially from those expressed or implied in such forward-looking statements due to known and unknown risks and uncertainties that exist in the Company's operations and business environment, including, among other factors, technical risks associated with the development of new products, regulatory policies in the United States and other countries, reimbursement policies of public and private health care payors, introduction and acceptance of new drug therapies, competition from existing products and from new products or technologies, the failure by the Company to produce anticipated cost savings or improve productivity, the timing and magnitude of capital expenditures and acquisitions, currency exchange risks, economic and market conditions in the United States, Europe and the rest of the world, and other risks associated with the Company's operations. The Company disclaims any obligation to update any such factors or to publicly announce any revisions to any of the forward-looking statements contained herein to reflect future events or developments.