TECHNE CORPORATION RELEASES UNAUDITED THIRD QUARTER RESULTS FOR FISCAL YEAR 2002

Minneapolis/April 23/--Techne's revenues and earnings were at record levels in the third quarter of fiscal 2002. For the quarter ended March 31, 2002, consolidated sales were $34,285,276, an increase of $4,044,387 or 13% from the third quarter of last year. R&D Systems' Biotechnology Division net sales increased 17% to $22,701,874 from $19,399,700 and R&D Systems' Hematology Division net sales increased 12% to $3,630,788 from $3,248,378. R&D Europe's net sales increased 5% to $7,952,614 from $7,592,811. R&D Europe's sales growth was lower than normal for the quarter due to the timing of the Easter holiday. The Easter holiday occurred in March this year compared to April last year and, therefore, R&D Europe's fourth quarter fiscal 2002 sales should compare favorably to last year.

For the quarter ended March 31, 2002, Techne's pretax consolidated earnings increased 21% to $15,349,912 compared with $12,683,512 in the third quarter of last year. After tax consolidated net income increased 4% to $10,573,912 or 25 cents per share (diluted), compared with $10,164,512 or 24 cents per share (diluted) in the third quarter of fiscal 2001. The income tax rate for the quarter ended March 31, 2002 was 31% compared to 20% for the third quarter of last year. Income taxes in the third quarter of fiscal 2001 were reduced $1.4 million as a result of a one-time credit due to the close-out of pending issues related to a state income tax examination for prior fiscal years.

For the nine months ended March 31, 2002, Techne's pretax consolidated earnings increased 16% to $40,012,328 compared with $34,402,072 in the prior year. After tax consolidated net income increased 11% to $27,433,328 or 65 cents per share (diluted), compared with $24,650,072 or 58 cents per share (diluted) in the first nine months of last year. The improvement in earnings was primarily the result of increased sales. For the nine months ended March 31, 2002, Techne's consolidated sales were $95,264,853, an increase of $10,613,735 or 13% from the first nine months of last year. R&D Systems' Biotechnology Division net sales increased 15% to $61,786,231 from $53,906,598 and R&D Systems' Hematology Division net sales increased 6% to $11,103,610 from $10,434,272. R&D Europe's net sales increased 10% to $22,375,012 from $20,310,248.

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 outcome of litigation involving the Company (including the litigation with Amgen, Inc. previously disclosed), 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, 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.

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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.