Woburn, MA (October 31, 2001) -U.S. Genomics announced today the appointment of Michael B. Olex to the position of Senior Vice President, Operations and Manufacturing. Mr. Olex’s background includes extensive experience managing the engineering and manufacturing functions for analytical laboratory devices based on such high-technology approaches as spectroradiometry, cytofluorescence, and perfusion chromatography. For a decade at PerSeptive Biosystems, the products he developed and manufactured were targeted to the biopharmaceuticals industry, and included work with mass spectrometry, fluorescent tagging, and nucleic acid synthesis. He joins U.S. Genomics from his position as President of International Light, a manufacturer of radiometers and spectroradiometers.

“Mike’s vast expertise in designing and manufacturing highly sophisticated, nanotechnologic laboratory tools will be invaluable to U.S. Genomics,” said Eugene Chan, Chairman and CEO of U.S. Genomics. “We anticipate that his hands-on understanding of early-stage products and manufacturing facilities will greatly enhance our ability to move towards production and commercialization of our core technology, the GeneEngine™. Mike’s qualifications expand and strengthen our management team as we set the stage for our next phase of growth.”

To address the emerging commercial need for the rapid production of usable and comprehensive genomic data, U.S. Genomics has developed the GeneEngine, a laboratory device that enables researchers to uncurl and separate individual strands of DNA or RNA, which are then run through a nanotechnology sequencer in extremely long, unbroken, linear segments. The technique’s miniature DNA reader works somewhat analogously to a CD player. The genetic information captured through such direct linear readings is relatively much more comprehensive and integrated than data available through other current techniques.

In the near term, the Company’s platform may be applied to generate enriched haplotype data from a single molecule; such use as a detection module may have applicability to research labs, diagnostics companies, and the pharmacogenomics market. In the longer term, U.S. Genomics’s approach has the potential to enable the deciphering of complete genomes, individual drug customization, and drug discovery for diseases caused by multiple genes.

“I am very enthusiastic about joining U.S. Genomics at such an exciting time, as the Company continues to make major advancements in its ability rapidly to read extremely long, direct, linear stretches of DNA,” said Michael Olex. “I look forward to leveraging my broad high-tech manufacturing and engineering industry experience in moving U.S. Genomics to the next level.”

Prior to joining U.S. Genomics, Mr. Olex was President of International Light, a manufacturer of light measurement instrumentation, and Vice President of Engineering, Manufacturing and Quality Assurance at PerSeptive Biosystems (later acquired by the Applied Biosystems Group of Applera Corp.), where he led development of microanalytic laboratory devices for the biopharmaceutical industry. Mr. Olex also was a manager in the Chemistry Systems Division of Ciba-Corning Diagnostics, in the Robotics Division of Nordson Corporation, and in the Nuclear Energy Systems Division of Westinghouse Electric. Mr. Olex holds a Masters of Business Administration from Case Western Reserve University, a Masters of Science in Electrical Engineering from Cleveland State University, and a Bachelor in Electrical Engineering for the University of Detroit.

About U.S. Genomics
U.S. Genomics (USG) is pioneering breakthrough technologies for direct, linear analysis of DNA for the global life sciences industry. Modeled after the cellular machinery used to read genetic material, the Company's technologies have the potential to transform the commercial utility of genomic information by enhancing its quality and breadth of application. USG is focused initially on providing technology products and servics to markets in drug discovery, pharmacogenomics, and diagnostics. For more information, please visit www.usgenomics.com.