Calypte Biomedical Kicks Off Retail Investor Initiative With Presentation At SCIA Conference.

Business Editors & Health/Medical Writers

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ALAMEDA, Calif.--(BUSINESS WIRE)--Oct. 8, 2002

Eight Additional Presentations to Small-Cap Broker and Investor Groups

Targeted Through Year-End

Calypte Biomedical Corporation (OTCBB:CALY), the developer and marketer of the only two FDA approved HIV-1 antibody tests for use with urine specimens, kicked off a program to introduce the Company to small-cap retail stockbrokers and individual investors with a presentation at the Southern California Investment Associate (SCIA) Capital Conference in Irvine, Calif. An estimated 150 investment professionals attended a 20-minute presentation by Anthony Cataldo, Executive Chairman Saturday morning, October 5th.

Calypte's conference presentation was sponsored by SCIA member firm Lincoln Equities (www.lincolnequity.com), which provides commercial research on the Company. Eight more presentations at events sponsored by organizations with a focus on small-cap retail stockbrokers and individual investors across the country are planned by year-end 2002.

"With two FDA-approved products addressing what is one of the world's most serious health crisis, we believe the Calypte Biomedical story will be of great interest to retail investors nationwide," commented Mr. Cataldo. "The business opportunity we at Calypte face is a global one, and while there was considerable interest at SCIA in our domestic activities, there was an equally strong interest in our progress in even-larger overseas markets including China and certain African nations. We are delighted with the reception we received at SCIA, and we look forward to introducing our urine-based HIV-1 antibody tests and our new, development-stage HIV-1 rapid test to an ever-growing number of investors."

The Company is making significant progress in many areas, including U.S. regulatory affairs, U.S. sales and marketing and international partnerships, to name a few. "We look forward to a very active fourth quarter and beyond, and are encouraged by a widening base of support for our milestones and accomplishments," added Mr. Cataldo.

About SCIA:

Southern California Investment Association (www.sciaonline.org) is a nonprofit organization developed to facilitate stock support and capital formation for select companies. SCIA is comprised of a national alliance of more than 100 NASD member firms, investment bankers, investment advisors, analysts, financial service managers, venture capitalists, investor relations professionals, industry consultants, securities attorneys, media and accredited investors. SCIA highlights 12 companies sponsored by member firms at each bimonthly Saturday Capital Conference.

About Calypte Biomedical:

Calypte Biomedical Corporation is dedicated to the development and commercialization of urine-based diagnostic products and services for the Human Immunodeficiency Virus Type 1 (HIV-1), sexually transmitted diseases and other infectious diseases. Calypte's tests include the screening EIA and supplemental Western Blot tests, the only two FDA-approved HIV-1 antibody tests that can be used on urine samples. When compared with existing blood-based tests, the Company's testing algorithms are non-invasive, easier to use, less expensive and have significantly less risk than blood-based testing, and they have 99.7% sensitivity in subjects previously identified as HIV-1 infected and 100% specificity in subjects at low risk when combined with the urine-based Western Blot supplemental test. The company believes that accurate, non-invasive urine-based testing methods for HIV and other infectious diseases may make important contributions to public health by helping to foster an environment in which testing may be done safely, economically and painlessly. Calypte markets its products in countries worldwide through international distributors and strategic partners.

Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our product and testing service in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K for the year ended December 31, 2001 and its subsequent filings with the SEC.