Calypte Biomedical Retains Investor Relations Network To Direct Its Financial Public Relations Programs.

Business Editors/Health & Medical Writers

ALAMEDA, Calif.--(BW HealthWire)--Feb. 4, 2002

Calypte Biomedical Corporation (OTCBB:CALY), a public healthcare company dedicated to the development and commercialization of urine-based diagnostic products and services, today announced that it has retained the Investor Relations Network to direct its investor relations and corporate communications programs.

In recent months, the company has continued financing efforts necessary to execute its business plan. It has also forged new strategic partnerships, and expanded its efforts to build a worldwide manufacturing and distribution presence.

Calypte said it wanted to begin sharing with shareholders and the public the company's goals and accomplishments. To help in that effort, it has retained the Investor Relations Network.

A significant part of the Investor Relations Network's compensation is long-term stock options to purchase Calypte common stock.

The Investor Relations Network is a financial public relations partnership with headquarters in Corona, California, and additional offices in Irvine, Los Angeles, New York City and Dallas. It provides investor relations and corporate communications programs for publicly traded and pre-IPO firms nationwide. The IRN also acts as an introductory source for capital formation.

Headquartered in Alameda, California, Calypte Biomedical Corporation (www.calypte.com) is 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 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 for the year ended December 31, 2000 and its subsequent filings with the SEC.