TECHNE CORPORATION RELEASES UNAUDITED FIRST QUARTER RESULTS FOR FISCAL YEAR 2001

For the three months ended September 30, 2000, TECHNE’s consolidated net income increased 55% to $7,503,050 or 35 cents per share (diluted), compared with $4,848,239 or 23 cents (diluted) in the first quarter of last year. The improvement in earnings was primarily the result of increased sales and gross margins.

For the three months ended September 30, 2000, TECHNE’s consolidated sales were a record $27,721,563, an increase of $3,100,510 or 13% from the first quarter of last year. R&D Systems’ Biotechnology Division net sales increased 19% to $17,920,915 from $15,074,320 and R&D Systems’ Hematology Division net sales increased 11% to $3,508,217 from $3,163,688. R&D Europe’s net sales decreased 1% to $6,292,431 from $6,383,045. The decrease in R&D Europe net sales was the result of changes in exchange rates. In British Pounds, R&D Europe’s sales increased 9% over the first quarter of last year. Adjusted for all changes in exchange rates, R&D Europe’s revenues for the first quarter of fiscal 2001 would have been approximately $860,000 higher than reported.

In addition to the increased sales, gross margins as a percent of sales also increased from 72% to 75% for the quarter ended September 30, 2000. Margins in the first quarter of last year were affected by the higher cost of inventory acquired from Genzyme Corporation in fiscal 1999.

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 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.