NOVOSTE REPORTS 146% SALES INCREASE FOR FIRST QUARTER.

Novoste Corporation (NASDAQ: NOVT) has reported its financial results for the quarter ended March 31, 2002.

The company reported all time record sales of $22.9 million, compared to $9.3 million for the first quarter last year, an increase of 146%.

Gross margin was 70%, compared to 60% for the first quarter last year. The gross margin improvement was directly related to the increase in unit sales volume. Operating expenses were essentially flat in the first quarter 2002, compared to the first quarter 2001, as lower research and development costs in the quarter, resulting from reductions in product development expenditures, were off-set by higher sales, marketing and administrative expenses, resulting from increased sales volume and company growth.

Net income for the first quarter was $3.4 million, or $0.21 per diluted share, on 16.5 million shares outstanding, compared to a net loss of $6.6 million, or $(0.41) per share, on 16.1 million shares outstanding, in the first quarter of last year.

Thomas D. Weldon, chairman and CEO commented on the quarter, "This is Novoste's third consecutive profitable quarter and its 13th consecutive quarter of revenue growth. The Beta-Cath(TM) System is now in over 370 hospitals in the U.S. Going forward, we expect to generate revenue from our newly approved smaller diameter catheter and longer radiation source train products in the U.S. These new products will allow us to more effectively penetrate market segments currently underserved by our existing 5F Beta-Cath(TM) System. Clinical feedback on these new products has been very positive."

Weldon continued, "We are also executing on our future growth strategy. We continue to make progress in pursuing new applications of our core technology, such as use of vascular brachytherapy in peripheral artery disease, arterial-venous dialysis graft stenosis, and the treatment of vulnerable plaque. These are large markets where early clinical data have suggested that radiation may play a significant role in addressing the clinical need. We are also making progress in business development activities to broaden our technology and product platform. We have recently reorganized our staff to provide greater focus in this area and have identified a number of short-term opportunities that leverage our existing distribution organization, as well as longer-term, novel game-changing technologies that address markets greater than $500 million. It is likely that we will be able to discuss one or two of these opportunities in more detail in the next quarter."

About Novoste Corporation

Novoste Corporation, based in Atlanta GA, develops advanced medical treatments for coronary and vascular diseases and is the worldwide leader in vascular brachytherapy. The company's Beta-Cath(TM) System is commercially available in the United States, as well as in the European Union and several other countries. Novoste Corporation shares are traded on the NASDAQ National Stock Market under the symbol NOVT.

For more information, call [phone] or visit http://www.novoste.com or call 770/810-3150.