Court Approves Organogenesis Disclosure Statement; Action Clears Way for Plan of Reorganization Vote By Creditors.

Business Editors/Health/Medical Writers

CANTON, Mass.--(BUSINESS WIRE)--July 1, 2003

Organogenesis Inc. (the "Company" --- ORGG-PK) announced today that on June 26, 2003 the U.S. Bankruptcy Court for the District of Massachusetts (the "Court") (i) approved the disclosure statement related to the Company's plan of reorganization filed on June 18, 2003, as amended (the "Plan") and (ii) authorized the Company to solicit approval of the Plan which contemplates the Company's emergence from Chapter 11 protection on or before August 31, 2003.

At the conclusion of the hearing, Judge William C. Hillman, of the Bankruptcy Court of Massachusetts, approved the Company's disclosure statement as having adequate information for the purpose of solicitation. The Company expects to distribute the disclosure statement and related ballots on July 2, 2003, which is the date the Court has established as the record date for the purpose of determining which creditors and shareholders are entitled to receive solicitation packages and, where applicable, vote on the Plan. Final ballots for voting on the Plan are due by 4:30 PM EDT on August 1, 2003. The confirmation hearing for the Court's approval of the Plan is scheduled for August 12, 2003 at 1:30 PM EDT.

"We are pleased to announce another positive step toward completing our reorganization process and we now look forward to soliciting votes on the plan, which is supported by the Official Committee of Unsecured Creditors," said Alan Ades, Chairman of the Company and a member of the group which is providing the funding for the Plan.

The Plan contemplates that, subject to certain possible adjustments and limitations set forth in the Plan, a cash distribution of 35% will be made to the holders of allowed general unsecured claims but that no distribution will be made on shares of the Company's outstanding preferred and common stock, which will be cancelled on the Plan's effective date.

Organogenesis was the first company to develop and gain FDA approval for a mass-produced product containing living human cells. The Company's principal product, Apligraf(R), a living, bi-layered skin substitute, has received FDA approval for the treatment of diabetic foot ulcers and venous leg ulcers.

Apligraf(R) is a registered trademark of Novartis.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. These statements reflect assumptions and involve risks and uncertainty that may affect the Company's business and prospects. Actual results may differ materially from those indicated or suggested by these forward-looking statements as a result of various factors.

Bankruptcy law does not permit solicitation of acceptances of the Plan until the Bankruptcy Court approves the applicable Disclosure Statement relating to the Plan as providing adequate information of a kind, and in sufficient detail, as far as is reasonably practicable in light of the nature and history of the debtor and the condition of the debtor's books and records, that would enable a hypothetical reasonable investor typical of the holder of claims or interests of the relevant class to make an informed judgment about the Plan. Accordingly, this announcement is not intended to be, nor should it be construed as, a solicitation for a vote on the Plan. The Company will emerge from Chapter 11 if and when the Plan receives the requisite creditor approvals and is confirmed by the Bankruptcy Court.