Chemfab Corporation Acquires UroQuest.

MERRIMACK, N.H.--(BUSINESS WIRE)--June 3, 1999--

Chemfab Corporation (NYSE:CFA) and UroQuest Medical Corporation (NASDAQ:UROQ) of Menlo Park, CA, today announced that they have entered into a definitive agreement whereby Chemfab would acquire UroQuest in a cash merger valued at $29 million. The transaction is expected to close in the first quarter of Chemfab's fiscal year 2000.

UroQuest Medical Corporation and its wholly owned subsidiary Bivona Medical Technologies have consolidated annual revenues of approximately $19 million. Bivona Medical Technologies, located in Gary, Indiana, accounts for virtually all of UroQuest Medical Corporation's consolidated revenues. Bivona Medical Technologies designs, manufactures and markets proprietary disposable silicone elastomer products and silicone elastomer components used in products serving the healthcare and personal care industry, and is a market leader in the design and manufacture of silicone elastomer products for airway management applications.

Commenting on the merger, Dr. John W. Verbicky, Chemfab's President and Chief Executive Officer said, "We view the acquisition of UroQuest and Bivona as a transitional acquisition which significantly enhances Chemfab's position in high performance elastomers and our ability to participate in the medical and healthcare markets. The transaction also moves us forward in realizing our strategic vision to expand the scope and breadth of our business. With this acquisition, High Performance Elastomers will represent nearly 20% of Chemfab's consolidated revenues." Dr. Verbicky added, "We are extremely pleased with the Bivona management team that will be joining the Chemfab organization and we expect the acquisition to be accretive in fiscal year 2000. Bivona Medical Technologies will continue to serve its existing customers as the Company continues to grow."

Chemfab Corporation is a world leader in the design, manufacture, fabrication and marketing of value added polymer-based products which deliver outstanding performance in severe service and highly specialized operating environments. Chemfab manufactures a broad range of reinforced and unreinforced products based on high performance polymer materials including fluoroplastics, fluoroelastomers, silicone elastomers and adhesives. The Company's products include laminates, films, coated fabrics, and tapes. The Company also produces molded polymer products and fabricated finished articles from roll goods. Worldwide end use applications are in the food processing, biomedical, protective clothing, electronics, communications, aerospace, architectural and other industrial markets and applications.

NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those projected or suggested due to certain risks and uncertainties, including resolution of acquisition and financing contingencies, transition and assimilation issues in the acquisition process, customer reaction to the acquisition, and operational and other risks relating to the combination of separate businesses. Additional information concerning certain other risks and uncertainties that could cause actual results to differ materially from those projected or suggested, is contained in the Company's other press releases and filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or the Company upon request. The forward-looking statements contained herein represent the Company's judgment as of the date of this release, and the Company cautions readers not to place undue reliance on such statements.