Calypte Provides Status Update; Receives First Substantial China Order.

Business Editors & Health/Medical Writers

ALAMEDA, Calif.--(BW HealthWire)--Oct. 2, 2001

Calypte Biomedical Corporation (OTCBB:CALY) hosted a conference call yesterday to address concerns over the stock's recent performance.

Despite market turbulence, the company continues to achieve revenue growth and reaffirmed its $7-$8 million revenue guidance for calendar year 2001.

In discussing the impact of the September 11, 2001 tragedy on Calypte, the company noted that it supplies the major blood banks in New York, many of which have called in desperate need of the company's blood-based HIV-1 test as a result of the outpouring of blood donations. Since the tragedy, the company has prioritized its product allocations to these blood banks and to military installations needing to ensure the safety of their blood supplies. When the company received FDA release of its products on the following Thursday, employees hand-delivered product to meet the crisis, since FedEx service was not available.

Nancy Katz, Calypte's President, CEO and CFO, reported that during the third quarter the company shipped and collected on its first small order from its distributor in Malaysia and had received its first substantial order from its distributor in the People's Republic of China, which it expects to ship early in the fourth quarter.

Regarding the company's cash situation, Ms. Katz said, "We are relentlessly pursuing additional financing sources so we can execute our plans. The equity line was the first step in this process, and we are continuing to explore additional areas for potential investment on a global basis. We expect to report on the progress of these funding efforts in the near future."

Ms. Katz announced that the company plans to release its financial results for the third quarter of 2001 after close of market on October 18, 2001 and will follow that release with an investor call on the morning of October 19, 2001. A specific announcement about the conference call will be made a few days in advance.

Calypte Biomedical Corporation (OTC Bulletin Board: CALY), 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, as well as one of only two FDA-approved HIV-1 supplemental Western Blot tests available for testing serum samples.

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding plans for future financing, the ability to meet financial and operational milestones, and shipments to domestic and 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 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.