Chromatics releases first quarter results.

NEW YORK--(BUSINESS WIRE)--May 15, 1997--Chromatics Color Sciences International Inc. (NASDAQ: CCSI) announced its 1997 first quarter results today. Revenue for the quarter ended March 31, 1997 was $58,700 (a $4,100 increase from 1996 first quarter revenue). Chromatics incurred net losses of $1,043,400 (net loss of $0.14 per share) for the three-month period ended March 31, 1997 as compared to $862,600 (net loss of $0.18 per share) for the three-month period ended March 31, 1996. Although loss per share decreased by $0.04 in the 1997 quarter compared to 1996 quarter, the 1997 quarter was favorably impacted by an increase of 2,493,657 weighted average number of shares outstanding. The $180,800 increase in net losses in the 1997 period as compared to the 1996 period is primarily attributable to increased expenses relating to the company's implementation of the company's long-range business plan to seek commercial applications of its intellectual properties and technologies in the medical field, including an increase in costs and expenses regarding FDA regulatory applications, patent applications and other general costs and expenses. Darby Macfarlane, chief executive officer, stated that the company is in the process of completing its response to a request from the FDA for supplemental information and clarification on its premarket notification (510 (k)) submission regarding the company's Colormate III device for the non-invasive monitoring of Bilirubin infant jaundice. The company believes it will be able to respond to the FDA within the requisite thirty-day period ending May 29, 1997, and is making good progress in that regard.

Chromatics Color Sciences International Inc. is engaged in the business of color science, including the scientific color measurement and classification of human skin, certain color-sensitive consumer products, and in determining the color compatibility of such skin and product color classification for use in a variety of industries including the cosmetic, beauty aid and fashion industries, as well as technology development for potential medical applications involving the detection and monitoring of certain chomogenic diseases. The company's common stock and warrants are traded on NASDAQ under the symbols "CCSI" and "CCSIW", respectively.

Except for the historical information contained herin, certain of the matters discussed are forward-looking statements that involve material risks to and uncertainties in the company's business which may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, the availability of any needed financing, the company's ability to implement its long range business plan for various applications for its technologies, the impact of competition, the obtaining of and compliance with regulatory approvals applicable to proposed application of the company's technology, the management of growth, and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including those set forth in the Form 10-KSB. -0-

        Chromatics Color Sciences International Inc. and Subsidiary
                     Consolidated Balance Sheets

                                   March 31, 1997   December 31, 1996
              ASSETS                (unaudited)          (Note 1)


CURRENT ASSETS:
  Cash and equivalents             $ 4,674,400        $ 5,352,400
  Accounts receivable, less
    Allowance for Doubtful
    Accounts of $0 and $10,000
    in 1997 and 1996 respectively       92,400             87,400
  Inventories                          223,600            223,400
  Prepaid expenses and other assets     94,400             89,200
          Total current assets       5,084,800          5,752,400

Colormate(TM) II units, less accumulated
 depreciation of $28,200 (1997)
 and $26,000 (1996)                    671,800            674,000

Property and equipment, at cost less
 accumulated depreciation of $177,500
 (1997) and $155,300 (1996)            342,700            293,700

Other Assets                            31,300             27,400

                                   $ 6,130,600        $ 6,747,500


              LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Notes payable - collateralized
   by equipment                    $     8,800        $    10,000
  Notes payable to related party       311,800            326,000
  Accounts payable and accrued
   expenses:
     Attorneys and accountants         324,300            269,700
     Consultants                        14,600             65,600
     Trade                             169,000            109,700
     Security deposits                   9,000             10,500
          Total current liabilities    837,500            791,500

COMMITMENTS AND CONTINGENCIES

Redeemable Class A preferred stock,
  par value $.01 per share:
     Authorized - 1,400,000 shares
     Issued and outstanding -
      1,380,000 shares at par and
      redemption value                  13,800             13,800

STOCKHOLDERS' EQUITY (DEFICIENCY)
  Common stock, par value $.001
   per share:
     Authorized - 50,000,000 shares
     Issued and outstanding -
      7,313,504 (1997) and
      7,168,730 (1996)                   7,300              7,200
  Capital in excess of par value    15,750,700         15,370,300
  Accumulated deficit              (10.478,700)        (9,435,300)
    Total Stockholders' Equity       5,279,300          5,942,200
                                     6,130,600          6,747,500

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       Chromatics Color Sciences International Inc. and Subsidiary
                 Consolidated Statements of Operations
                              (Unaudited)

                                           Three months ended
                                                March 31,
                                         1997              1996

Revenues:
 Lease, license and service
  contracts                           $   1,500        $  36,300
 Interest income                         56,900           18,200
 Other                                      300              100
                                         ------           ------
                                         58,700           54,600

COSTS AND EXPENSES:
 Food and drug administration ("FDA")
   medical application expenses         344,200          217,700
 Patent application costs (including
   $66,200 of FDA related costs and
     $56,900 of research and
       development costs in 1997)       123,100           21,100

Research and development costs           55,100           45,500
General and administrative:
  Compensation of officers
   and employees                        192,800          191,700
  Compensation of consultants            45,500           44,700
  Legal fees                             53,000          104,900
  Accounting fees                        13,600           18,000
  Rent and storage                       52,900           54,800
  Insurance                              52,500           51,700
  Travel and entertainment                4,000           13,000
  Repairs and maintenance                28,500           27,100
  Depreciation and amortization          25,200           17,200
  Payroll taxes                          31,200           32,600
  Stock adminstration fees                9,100            7,600
  Other                                  64,600           62,600
  Interest                                6,800            7,000
                                      1,102,100          917,200

NET LOSS                           $  1,043,400       $  862,600

WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES AND EQUIVALENTS
 OUTSTANDING                          7,253,957        4,760,300

NET LOSS PER SHARE                   $     0.14        $    0.18

CONTACT: Chromatics Color Sciences International, New York

Darby Macfarlane

Chief Executive Officer

212/717-6544

212/717-6675 (fax)