Conceptus reports first quarter financial results.

SAN CARLOS, Calif.--(BUSINESS WIRE)--April 23, 1996--Conceptus, Inc. (Nasdaq: CPTS) today announced the financial results for its first quarter of fiscal year 1996, the three-month period ended March 31, 1996. The Company reported net loss of $1,465,000, or a $0.19 supplemental loss per share, on revenues of $82,000. As of March 31, 1996, the Company had cash, cash equivalents, and short-term investments of $47.9 million.

In February 1996, the Company completed an initial public offering of 3.45 million shares of Common Stock, at $14.00 per share, which resulted in net proceeds of the offering to the Company of approximately $44 million.

The Company's underwriters UBS Securities Inc. and Piper Jaffray Inc., have decided to release early a portion of the shares that were subject to a 180 day lock-up in conjunction with the initial public offering. As of May 1, 1996, one-third of all common shares of Conceptus, Inc. which were subject to the "lock-up" will be released from that lock-up provision. This will result in approximately 1.3 million shares of stock which will become immediately tradable in the public market. Some of these shares will be subject to certain restrictions upon resale.

Conceptus, Inc. designs, develops and markets innovative medical devices that provide minimally invasive access to the female reproductive system. The Company's initial focus is on the development of systems to improve the diagnosis and treatment of fallopian tube diseases and disorders, a primary cause of infertility. The Company is also developing a system to provide a non-surgical approach to fallopian tube sterilization, the most commonly performed contraceptive procedure worldwide. -0-

                                CONCEPTUS, INC.
                           STATEMENTS OF OPERATIONS
                (In thousands of dollars, except per share data)
                                  (unaudited)

                                   For the quarter ended
                                          March 31
                                       1996     1995

Total revenue                        $   82  $    99
Gross margin                            (77)    (193)
Operating expense                     1,780    1,060
Other income, net                       392       45
Net loss                            $(1,465) $(1,208)
Supplemental loss per share(a)      $ (0.19) $ (0.33)
Supplemental weighted average
   common shares outstanding(a)       7,638    3,678

Condensed Balance Sheet

                                     3/31/96  3/31/95

Cash, cash equivalents and
   short-term investments           $ 47,947  $ 4,028
Total assets                        $ 48,765  $ 4,996
Total liabilities                   $  1,398  $   843

Redeemable convertible
 preferred stock                    $     --  $11,453

Stockholders' equity
   (net capital deficiency)         $ 47,367  $(7,302)

(a) All shares and per share data reflect a one-for-three reverse
    stock split of the Company's common and preferred stock effected on
    November 29, 1995.

CONTACT: Sanford Fitch

Chief Financial Officer

Conceptus, Inc.

[phone]