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BIOJECT, KOBAYASHI SIGN DISTRIBUTION AGREEMENT FOR JAPAN

 BIOJECT, KOBAYASHI SIGN DISTRIBUTION AGREEMENT FOR JAPAN
 PORTLAND, Ore., Sept. 24 /PRNewswire/ -- Bioject Inc. (NASDAQ: BJCTF) announced today it has signed an agreement with Kobayashi Pharmaceutical Co. Inc. for distribution of the Biojector Needle-Free Injection Management System to hospitals and physicians in Japan. Kobayashi is one of Japan's largest manufacturers and distributors of over-the-counter pharmaceutical products and medical equipment, with 1992 sales in excess of $922 million.
 The agreement grants exclusive rights for a five-year period for Kobayashi to sell and distribute the Biojector 2000 and its disposable products. Excluded from the agreement are other Bioject products, such as prefilled syringes, that may be distributed in Japan by other pharmaceutical companies. Kobayashi officials estimate that there are over 1 billion injections given each year in Japan.
 In 1976, Kobayashi established a joint venture, Medicon Inc., with C.R. Bard International, and has since been selling medical equipment manufactured by Bard to Japanese hospitals. In marketing the Biojector, Kobayashi will initially employ its hospital sales staff of 30 representatives to sell the Biojector.
 In conjunction with the agreement, Kobayashi has agreed to purchase $500,000 (U.S.) in Bioject stock, representing 97,420 shares at $5.13 per share, excluding commission. This represents approximately 1 percent of Bioject's current shares outstanding.
 In preparation for product sales in Japan, Bioject has filed for Japanese patents, and approvals are pending. Kobayashi will apply for importing/marketing clearance from Japanese regulatory agencies. Both companies believe that this process should be completed in time for a 1993 launch in Japan.
 Upon obtaining regulatory approvals in Japan, Kobayashi will purchase an additional $250,000 in Bioject stock at a premium to market price at that time.
 "Our companies have been working for over a year to forge this agreement, and we are very happy to sign it today," commented Hiroaki Miyata, senior vice president and general manager of Kobayashi's manufacturing division, who signed the agreement for Kobayashi. "As a Japanese company, we have tremendous respect for Bioject and its president, Carl Wilcox. We admire their character, management quality and the way they conduct business.
 "Both companies are innovative and Bioject's products complement Kobayashi's philosophy of always bringing 'something different, something new' to our customers. We feel like family and look forward to achieving great success in this venture."
 Commenting on the agreement, Wilcox said, "We are excited that Kobayashi will be distributing the Biojector in Japan. They have very exacting quality requirements for the products they sell. And, we are pleased to manufacture finished high-tech products for sale in Japan."
 Kobayashi maintains a corporate commitment to bringing foreign products to Japan. In a recent letter, Kazuma Kobayashi, president and chairman of the board, said, "Kobayashi continues to encourage the entry of foreign products into the Japanese market. We are determined to maintain this policy and are fully committed to the active introduction of a variety of products that would meet Japanese customer needs."
 -0- 9/24/92
 /CONTACT: Dan Zenka or Tim Justice of Bioject, 503-639-7221/
 (BJCTF) CO: Bioject Inc.; Kobayashi Pharmaceutical Co. Inc. ST: Oregon IN: MTC SU:


LM-JH -- SE007 -- 3241 09/24/92 15:49 EDT
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Date:Sep 24, 1992
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