Calypte Secures $25 Million Equity Financing Commitment.

Business Editors/Health Writers

ALAMEDA, Calif.--(BUSINESS WIRE)--Nov. 3, 2000

Calypte Biomedical Corporation (Nasdaq:CALY) announced today that it has secured an equity financing commitment from a private investment fund in the form of an equity line facility arranged through Ladenburg Thalmann & Co. Inc. According to the terms of the facility, Calypte would have the right, but not the obligation, to obtain as much as $25 million through the issuance of common stock to the fund in a series of draw downs over a twelve-month period. The actual amount of the funds that Calypte will be able to draw down is subject to the terms of the facility and factors in the trading market for Calypte common stock, including the trading volume and the price of Calypte shares. Calypte will have full control over the timing of any sale and is under no obligation to sell any shares.

Calypte stated that it intends to use the proceeds of the equity financing commitment to fund the development of new products and to continue to execute on its aggressive growth plans.

The Company will issue the shares under a new registration statement filed with the Securities and Exchange Commission (SEC) today, Friday, November 3, 2000. Calypte has registered up to 6,000,000 shares of its common stock for issuance pursuant to the equity financing facility. Calypte will be able to commence drawing down on the facility once its registration statement is declared effective by the SEC.

This press release does not constitute an offer to sell or the solicitation to buy nor shall there be any sale of these securities in any state under which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such a state.

Calypte Biomedical Corporation (Nasdaq: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 chronic illnesses. Calypte's tests include the screening EIA and supplemental Western Blot tests, the only two FDA-licensed 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 chronic 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 sells its products in over 40 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 the amount of funds that we may draw down and the number of shares of Common Stock that we may issue under the equity line of credit facility and the timing of effectiveness of the registration statement we are filing with the U.S. Securities and Exchange Commission. 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, the trading volume and price of our shares of Common Stock preceding and during draw down periods under the equity line of credit facility, our ability, directly or through third parties, to raise additional funds, if and when necessary and the timing of the effective date of the registration statement. 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, including the registration statement on Form S-3 that we have filed in connection with equity line of credit facility.