TECHNE Corporation Releases Unaudited Second Quarter Results for Fiscal Year 2002

Minneapolis/January 29/--For the three months ended December 31, 2001, Techne's consolidated net income increased 21% to $8,434,635 or 20 cents per share (diluted), compared with $6,982,510 or 16 cents per share (diluted) in the second quarter of last year. The improvement in earnings was primarily the result of increased sales. For the three months ended December 31, 2001, Techne's consolidated sales were $31,136,911, an increase of $4,448,245 or 17% from the second quarter of last year. R&D Systems' Biotechnology Division net sales increased 19% to $19,718,623 from $16,585,983 and R&D Systems' Hematology Division net sales increased 4% to $3,823,229 from $3,677,677. R&D Europe's net sales increased 18% to $7,595,059 from $6,425,006.

For the six months ended December 31, 2001, Techne's consolidated net income increased 16% to $16,859,416 or 40 cents per share (diluted), compared with $14,485,560 or 34 cents per share (diluted) in the first six months of last year. The improvement in earnings was also primarily the result of increased sales. For the six months ended December 31, 2001, Techne's consolidated sales were $60,979,577, an increase of $6,569,348 or 12% from the first six months of last year. R&D Systems' Biotechnology Division net sales increased 13% to $39,084,357 from $34,506,898 and R&D Systems' Hematology Division net sales increased 4% to $7,472,822 from $7,185,894. R&D Europe's net sales increased 13% to $14,422,398 from $12,717,437.

Revenues for the second quarter rebounded from depressed first quarter levels which were impacted by the events of September 11. Earnings also rebounded but were slightly less than expected due to higher selling, general, administrative and research expenses and lower interest income. Research expenses included losses of $105,000 and $277,000 from operations, respectively, of Discovery Genomics and ChemoCentryx, early stage companies in which Techne has investments. New product releases for the first six months of fiscal year 2002 totaled 555 compared to 567 for all of fiscal year 2001. Our business is back on track and fiscal year 2002 should be another record year for Techne.

As previously announced, in early January Techne suffered a setback in its litigation with Amgen, Inc. when the Court granted summary judgment to Amgen in the amount of approximately $28 million. The dispute concerns agreements entered in 1991 and shipments of research grade Epo received in 1998 and 1999. The Court has amended its original 30 day stay of entry of judgement and has stated that it will not enter judgement while it retains jurisdiction over breach of contract claims which might affect the amount of the judgement. Techne continues to contest the matter vigorously and intends to appeal any final judgment against Techne. Due to the uncertain status of the matter, the amount of the judgment has not been booked as an expense but may be booked in the future in accordance with applicable accounting principles. Regardless of the final outcome of the litigation, no sales of products or future operations of the company will be affected.

Statements in this earnings release and elsewhere which look forward in time involve risks and uncertainties which may affect the actual results of operations. The following important factors, among others, have affected and, in the future, could affect the Company's actual results: the introduction and acceptance of new biotechnology and hematology products, the levels and particular directions of research into cytokines by the Company's customers, the impact of the growing number of producers of cytokine research products and related price competition, the retention of hematology OEM and proficiency survey business, the impact of currency exchange rate fluctuations, the outcome of litigation involving the Company and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships. For additional information concerning such factors, see the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission.

Techne Corporation has two operating subsidiaries: Research and Diagnostic Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe, Ltd. (R&D Europe) of Abingdon, England. R&D Systems is a specialty manufacturer of biological products and R&D Europe is a distributor of biotechnology products.

Contact: Kathy Backes, 612-379-8854