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PSYCHEMEDICS HOLDS ANNUAL MEETING; COMPANY PRESIDENT LOOKS TO CONTINUED GROWTH IN FUTURE

 FORT LAUDERDALE, Fla., May 19 /PRNewswire/ -- Raymond C. Kubacki Jr., president and chief executive officer of Psychemedics Corporation (NASDAQ: PCMC), told shareholders during the company's annual meeting that "in 1993, we can expect continued growth for the company."
 His remarks were made during the company's annual meeting, held at the Marriott Harbor Beach Hotel. Kubacki noted that during the past year, the company achieved record revenues with an increase of 61 percent, as well as a reduction in its losses of 65 percent, while at the same time making significant investments in future growth. These investments include:
 --- The addition of a direct field sales force of six professional, high level regional sales managers who are strategically located throughout the U.S. "This has enabled us to increase our client base to more than 250 corporate clients at year end," said Kubacki.
 -- The relocation of the Psychemedics laboratory to a larger, more efficient facility in Culver City, Calif. "This move doubled our capacity, and even with the implementation of this move, we retained all of our scientific, technical and customer service staff from our previous facility," Kubacki said.
 -- Major equipment purchases were made in the critical gas chromatography/mass spectrometry area. "This additional equipment expands our confirmation process capacity and our research capability," Kubacki said.
 -- The introduction of a new product -- a hair test for the detection of methadone, which will enable the company to enter and make an impact in the drug treatment and rehabilitation markets.
 All of these steps, according to Kubacki, have strengthened the company.
 "The market for drug testing continues to expand," Kubacki said, noting that more importantly, "the awareness of the superiority of hair analysis is increasing rapidly."
 He cited the recent American Management Association's annual survey of workplace drug testing, noting that the number of companies reporting who use hair analysis became statistically significant in 1991. "In the just published study for 1992, hair analysis increased as a preferred method of drug screening among those surveyed," Kubacki stated.
 He added that additional independent side-by-side studies comparing hair with urinalysis were completed in the workplace, justice system, and medical research areas. "All of these tests demonstrated the superior detection rate of hair analysis," Kubacki said. He pointed to two studies undertaken independently by two major corporations (one in lodging, the other in manufacturing) that continued to reveal hair analysis' overall superior detection rate for drugs of abuse and the even more significant advantages over urinalysis in the detection of cocaine. "Urinalysis failed to detect any cocaine users in 258 tests," Kubacki said, noting that this is a significant result, since the use of cocaine (including crack) is growing and its effects on the individual and society are devastating. "In these same side-by-side studies, hair analysis uncovered 28 cocaine users," Kubacki affirmed. He added that in a recently published study, hair analysis was also found to be significantly superior to urinalysis in detecting cocaine use in pregnant women and babies of abusers. "Continued progress in this important area is critical," Kubacki said.
 He noted that for the coming year, Psychemedics will continue to emphasize its direct sales effort, with a focused and disciplined approach to target market and companies, as well as continue to expand efforts to increase the level of awareness of hair testing.
 "We at Psychemedics believe that we can make a major impact and difference in this critical issue of our time -- drug abuse. Our contribution and commitment is in providing superior detection, a major deterrent and the ability to allow former drug abusers to demonstrate that they are now drug free and ready to lead productive lives," Kubacki said.
 Other business transacted at the meeting included the election of individuals to the Psychemedics board of directors. Those re-elected to the board were: Werner A. Baumgartner, Ph.D., chairman of the board; A. Clinton Allen III, vice chairman of the board; Raymond C. Kubacki Jr., president and chief executive officer; Donald F. Flynn, John J. Melk and Frederick J. Weinert.
 Psychemedics Corporation has developed a proprietary test for drugs of abuse that uses human hair instead of urine or blood to detect the use of illegal drugs. Advantages of Psychemedics' hair test process to the more intrusive competing methods include a longer "window of detection," ease of collection, shipping and storage and difficulty in adulteration or "beating the test." The Psychemedics hair test can detect drug use for the previous 90 days versus only three or four days with urine or blood. Drug abusers, therefore, cannot evade detection by simply abstaining a few days before a test.
 -0- 5/19/93
 /CONTACT: Beverly Jedynak of Martin E. Janis & Company, Inc., 312-943-1100, for Psychemedics Corporation/
 (PCMC)


CO: Psychemedics Corporation ST: Florida, California IN: MTC SU:

KL -- CL001 -- 0108 05/19/93 08:02 EDT
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Date:May 19, 1993
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