Calypte Biomedical Presents At Wall Street Analyst Forum; Shares plans for future growth with analysts, portfolio managers at key New York conference.

Business/Technology Editors

ALAMEDA, Calif.--(BW HealthWire)--Feb. 19, 2002

Calypte Biomedical Corporation (OTCBB: CALY), a public healthcare company dedicated to the development and commercialization of urine-based diagnostic products and services, shared its plans for future growth with several dozen analysts and portfolio managers late last week at The Wall Street Analyst Forum's Institutional Investor Conference in New York.

"By one global estimate," Calypte President & CEO Nancy Katz told the February 14 audience, "there are as many as 14,000 people a day contracting the AIDS virus. That's roughly 100,000 new cases a week, or more than 350,000 a year, and that's just for HIV-related illnesses," she said.

"Against that backdrop," Katz explained, "our mission of testing for the greater good takes on an even greater and more compelling significance. We think, and hope you'll conclude, that Calypte is truly a company in the right place, at the right time, and worthy of your immediate consideration," she told the institutional investors.

The CEO, along with Executive Vice President and CFO Rick Brounstein, then reported that Calypte had just completed a record fourth quarter and full year, with revenues in 2001 more than doubling the year earlier period. Moreover, in 2001, said Brounstein, full year gross margin had approached break even, compared with a margin loss of $2.6MM (-79%) in 2000. In addition, he noted, while the first quarter of 2002 is not expected to be a record quarter sequentially, prospects for the current year indicate another period of significant growth.

Nancy Katz then defined milestones that investors could use to monitor the company's progress in 2002. "Adoption of our tests by the World Health Organization, the enormous validation of having our tests now in use by the largest test provider in California, the growing acceptance of our test in the domestic insurance market, the potential for joint ventures offshore to manufacture and market, an expanded distribution system in China and active efforts to further expand other marketplaces, and at home to partner with a major drug firm to bring new disease tests to market - all of these events underscore the rapid and prominent advancement of Calypte Biomedical," Katz explained.

"We invite you to come on the journey with us...to become partners in our progress as shareholders, and to help us accelerate our mission to push back the frontiers of diagnostic testing - of testing for the greater good," the CEO said in closing.

A rebroadcast of the Calypte presentation at The Wall Street Analyst Forum's Institutional Investor Conference can be accessed from the company's website at www.calypte.com through March 14, 2002.

About Calypte Biomedical:

Calypte Biomedical Corporation headquartered in Alameda, California, is a public healthcare company dedicated to the development and commercialization of urine-based diagnostic products and services for 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. 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, including statements regarding announcements of financial results and presentations by the Company. Such statements reflect managements 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 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 Companys expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Companys success are more fully disclosed in the Companys 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, 2000 and its subsequent filings with the SEC.