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STATEMENT OF CHRIS RIEDEL, FORMER PRESIDENT, CEO OF MERIS LABORATORIES

STATEMENT OF CHRIS RIEDEL, FORMER PRESIDENT, CEO OF MERIS LABORATORIES
 SAN JOSE, Calif., Sept. 14 /PRNewswire/ -- Chris Riedel, former president and chief executive officer of Meris Laboratories Inc. (NASDAQ: MERS) issued the following statement in response to a press release issued by Meris Sept. 9:
 "I resigned last week as an employee of Meris for a number of reasons, some of which I do not feel are appropriate to divulge at this time. Since rejoining Meris, I have had, in my view, no meaningful ability to effect change at the company, address operational problems, stem the loss of key personnel or modify Meris' current acquisition plans, with which I strongly disagree. As Meris' founder, largest shareholder and chairman of the board, I believe the board of directors, a majority of which is currently composed of inside directors with inherent conflicts of interest, should be replaced by an independent, outside, shareholder-oriented board.
 "Pending a decision on my reinstatement as chief executive officer as described below, I believe that I can be of more service to the company as an outside director. My resignation arises out of a dispute, the background for which is as follows.
 "On June 27, 1992, I terminated Stephen Kass for what I believed to be good cause. Concurrently, I terminated Pat Billingsly. Mr. Kass, a former investment banker, had joined the company in January 1992 as chief operating officer. Mr. Billingsly had been hired in March 1992 as a vice president. Both also served as directors on Meris' then five person board of directors. Later on June 27, a meeting of the board of directors was convened. by a 3-1-1 vote, I was terminated as chief executive officer and president of Meris, a position I had held since its founding in 1983. Voting in favor of this resolution were Mr. Kass, Mr. Billingsly and Dr. Swartzberg, who has a full-time medical practice and was then acting on a part-time basis as a co-medical director of the company. I abstained from voting on this resolution because it involved me directly. The only outside director of the company, Mr. James Root, voted against it and objected to the lack of notice given of the meeting and the precipitous nature of the action taken. The board, by the same 3-1-1 vote, then re-elected Mr. Kass as chief operating officer and Mr. Billingsly as a vice president and elected Dr. John Swartzberg as acting chief executive officer, chairman of the board and acting president.
 "Meris almost immediately filed suit in Santa Clara Superior Court seeking an injunction to prevent me from taking actions purporting to be an officer of the company. I made numerous allegations to the company's board of directors to the effect that members of the company's management did not properly discharge their responsibilities as officers and informed the company that I intended to file a shareholders derivative action against certain Meris directors and officers for alleged breaches of fiduciary duty and other claims.
 "In August 1992, an agreement was entered into between the parties with respect to the dispute. As part of that agreement, I was reinstated as chairman of the board, and Henry E. Bose was appointed president and chief executive officer of the company. Prior to his election, Mr. Bose had engaged in the practice of law for 30 years and had acted as outside legal counsel to the company. As a part of the agreement, the board also formed an Investigating Committee composed of Mr. Bose and Dr. Swartzberg. The committee's charter includes investigation of the following: 1) whether sufficient grounds exist for the termination of Mr. Kass for cause; 2) whether the board had a reasonable basis for terminating me as chief executive officer and president; 3) certain other allegations made by me regarding improper conduct by certain of the company's officers and directors and 4) any other matters requested by any member of the company's board of directors. That investigation is still ongoing. If reasonable grounds are not found for my termination, the agreement provides that I will be reinstated as chief executive officer of the company.
 "In addition, the company loaned to Stephen B. Kass the amount of $1,000,000 in order to permit Mr. Kass to repay his promissory note issued to me in January 1992. Such loan by the company to Mr. Kass was approved by a 3-1-1 vote of the board with Messrs. Kass, Swartzberg and Billingsly voting in favor, director Root voting against and myself abstaining. The company also paid me $350,000 for releases of certain of my claims against Messrs. Kass, Swartzberg, Billingsly and the company."
 -0- 9/14/92
 /CONTACT: Chris Riedel, 408-244-2412/
 (MERS) CO: Meris Laboratories Inc. ST: California IN: MTC SU: PER


RM -- SF013 -- 9322 09/14/92 17:10 EDT
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Date:Sep 14, 1992
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