Calypte Biomedical Reports Three New Insurance Customers; Continues Insurance Market Penetration.

Business Editors/Health/Medical Writers

ALAMEDA, Calif.--(BUSINESS WIRE)--March 10, 2003

Calypte Biomedical Corporation (OTCBB:CALY), the developer and marketer of the only two FDA-approved HIV-1 antibody tests that can be used with urine samples, today announced that three new insurance customers, SAFECO Insurance, Shenandoah Life and Life of Georgia have adopted Calypte's urine HIV tests.

Nancy Katz, president and CEO of Calypte, stated, "Urine HIV testing, when combined with other urine tests, offers the most comprehensive panel of tests available, other than serum; and has been shown to be an effective option for insurance companies looking to reduce costs and increase market share. Industry members continue to show confidence in our product by accepting urine HIV as part of their regular medical underwriting as well as broadening the age and policy value requirements to utilize our HIV tests."

In addition to securing new accounts, current clients such as John Hancock and Fidelity & Guarantee are increasing their urine testing volume. It is believed that part of the volume expansion is attributed to companies beginning to utilize "agent collection," a process that requires insurance agents to collect samples in the field. This will provide Calypte with an excellent opportunity to leverage a successful experience with this process with other insurance companies who have investigated implementing agent collection for urine HIV testing.

"In the fourth quarter, 2002, we observed strong growth of 58% from our prior quarter for our insurance business," said Anthony Cataldo, executive chairman of Calypte. "As mentioned during our fourth quarter earnings conference call, Calypte will continue to build its distribution channels and expand our customer base to provide future growth in the first half of 2003. As there is typically a ramp up period, we would expect to reap increased benefits of this growth in second half of the year."

About Calypte

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. Current product labeling including specific product performance claims can be found at www.calypte.com.

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. 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 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/A (No.3) for the year ended December 31, 2001 and its subsequent filings with the SEC.