Bone Care International Announces Management Changes.

Business Editors

MIDDLETON, Wis.--(BUSINESS WIRE)--July 19, 2001

Bone Care International, Inc. (Nasdaq:BCII) announced today that, effective immediately, Charles W. Bishop Ph.D. is the Executive Vice President of Research and Development. Dr. Bishop will devote full time to expanding indications for the company's lead drug, Hectorol, in psoriasis, cancer, and osteoporosis, and to accelerating the company's pipeline of new chemical entities. A search will begin immediately for a successor for Dr. Bishop's current positions as President and CEO. Richard B. Mazess Ph.D., the founder and Chairman of the Board, will serve as Acting President and CEO in the interim. Dr. Mazess indicated the Board of Directors felt that Dr. Bishop's move would allow Bone Care to most rapidly and effectively develop new products. Dr. Bishop, who has led Bone Care's research effort over the past 15 years, said, "I welcome the opportunity to obtain new clinical indications for Hectorol and the challenge of bringing new vitamin D-hormones to market."

Bone Care also announced that Robert A. Beckman, who has been acting Vice President of Finance and CFO since an accident incapacitated Dale W. Gutman over a year ago, has now assumed those responsibilities on a full-time basis. Mr. Beckman has been associated with Bone Care since its founding and has been a Director over the past 5 years.

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.

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.