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To: Jim Bishop who wrote (124769)	12/23/2003 5:36:18 PM
From: Buckey	Read Replies (2) \| Respond to of 150070

CYGN bagholding here where o where do I plkace my sell order LOL Cygnus, Inc. and Sankyo Pharma Inc. Settle Lawsuit Regarding Distribution and Marketing of GlucoWatch G2(R) Biographer in the United States REDWOOD CITY, Calif., Dec. 23 /PRNewswire-FirstCall/ -- Cygnus, Inc. (BULLETIN BOARD: CYGN) today announced a Global Resolution Agreement with Sankyo Pharma Inc. relating to the future distribution and marketing in the United States of Cygnus' GlucoWatch G2(R) Biographer. The agreement provides, upon execution, for Sankyo Pharma to pay Cygnus $30 million in cash and transfer to Cygnus title of all GlucoWatch G2 Biographer products currently owned by Sankyo Pharma (approximately 20,000 G2 Biographers and 1 million AutoSensors). In addition, Sankyo Pharma will provide transition services related to distribution of the GlucoWatch G2 Biographer products for up to six months. Patients and health care professionals will continue to be able to obtain GlucoWatch G2 Biographer products and support by calling 1-866-GLWATCH. The agreement between Cygnus and Sankyo Pharma is effective immediately and resolves all litigation between Cygnus and Sankyo Pharma and ensures an uninterrupted supply of GlucoWatch G2 Biographer products and services to patients and healthcare professionals. "Cygnus is dedicated to making the GlucoWatch G2 Biographer available for people with diabetes because we believe that the information provided by frequent, noninvasive and automatic glucose monitoring can be of great assistance in improving diabetes management," stated John C Hodgman, Chairman, CEO and President of Cygnus, Inc. "We are convinced that a rapid settlement is in the best interests of people with diabetes who are current or future users of the GlucoWatch G2 Biographer, as well as our stockholders. We are currently in discussions with companies regarding alternative sales, marketing and distribution approaches in the United States and/or worldwide, and other strategic alternatives. This agreement gives us a significant cash infusion, reduces our liabilities by up to $48 million, and provides us with an adequate period of time in which to pursue future arrangements," Mr. Hodgman added. About Cygnus, Inc.