Date: Wed, 7 Jun 2000 15:28:09 -0700 (PDT)

1. Inamed Outlook -5: $100M Reserves For Trilucent Expenses

Dow Jones Newswires

June 6, 2000

Inamed expects no negative effect on earnings per share due to its breast implant program because the company has more than $100 million of reserves and insurance available to cover Trilucent-related expenses. implants in 1995, and discontinued the product in 1998. Inamed acquired Collagen last year.

The company, through its AEI Inc. unit, is cooperating fully with the United Kingdom Medical Devices Agency, which recommended as a precautionary measure that Trilucent implants be removed from all patients, the company said.

Copyright 2000 Dow Jones Newswire

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2. Inamed Outlook -4: Shares Closed Monday At 40

Dow Jones Newswires

June 6, 2000

Inamed Corp. said it reported pro forma diluted earnings per share of 37 cents for the second quarter of 1999.

Shares of Inamed closed Monday on the Nasdaq market at 40, up 1, or 2.6%. In its press release Tuesday, Inamed also said it received expedited review for it Lap-Band Systems gastric banding system from the Food and Drug Administration, and it unveiled a program to support women who have received Trilucent breast implants under which it will cover medical expenses associated with the removal and replacement of these implants.

Copyright 2000 Dow Jones Newswire

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3. Inamed Sees 2Q Net 15% Above 49c/Share Street View

Dow Jones Newswires

June 6, 2000

SANTA BARBRA, Calif. -- Inamed Corp. (IMDC) expects second quarter diluted earnings per share will be 15% higher than analysts' estimates of 49 cents a share due to favorable sales and margin trends.

A First Call/Thomson Financial survey of four financial analysts produced a mean earnings estimate for the company's second quarter of 50 cents a diluted share.

In a press release Tuesday, the surgical and medical device company said it is also filing a shelf registration statement covering about 5.5 million common shares.

Of that registration, about 4.4 milion shares are held by Appaloosa Management LP and its affiliates, while the rest are held by a court-appointed receiver on behalf of Medical Device Alliance Inc.

The filing completes the company's previously announced obligation to provide registration statements to shareholders.

The company believes that none of its shareholders with registration rights will sell their shares in a manner which could impair the value of the remaining ownership interest in Inamed.

Inamed Corp. said it reported pro forma diluted earnings per share of 37 cents for the second quarter of 1999.

Shares of Inamed closed Monday on the Nasdaq market at 40, up 1, or 2.6%.

In its press release Tuesday, Inamed also said it received expedited review for it Lap-Band Systems gastric banding system from the Food and Drug Administration, and it unveiled a program to support women who have received Trilucent breast implants under which it will cover medical expenses associated with the removal and replacement of these implants.

Inamed expects no negative effect on earnings per share due to its breast implant program because the company has more than $100 million of reserves and insurance available to cover Trilucent-related expenses.

A predecessor company, Collagen Aesthetics, introduced the Trilucent implants in 1995, and discontinued the product in 1998. Inamed acquired Collagen last year.

The company, through its AEI Inc. unit, is cooperating fully with the United Kingdom Medical Devices Agency, which recommended as a precautionary measure that Trilucent implants be removed from all patients, the company said.

Inamed said Trilucent breast implants contains soybean oil filler material, instead of traditional silicone. The implant was marketed in Europe by LipoMatric Inc.

Inamed also received FDA approval for expedited review for a premarket approval application of its Lap-Band adjustable gastric banding system.

The Lap-Band is designed for the surgical treatment of obesity and is usually placed laparoscopically.

The FDA noted that the device appears to offer significant advantages, the company said, including reduced mortality, patient specific adjustment without further surgery, and reversability.

An advisory panel will meet June 19 to consider the system and advise the FDA. The FDA has final approval for the device, the company noted.

Inamed Corp.'s McGhan Corp. said the Trilucent implant wasn't sold in the U.S., but trials of involved 165 women in the U.S. and Canada.

In a separate press release Tuesday, McGhan said U.K. regulators recommended the removal of the implants worldwide.

McGhan, which assumed the responsibility for the U.S. and Canadian trials of Trilucent through an acquisition, advised the women involved in the trials that it will provide assistance and support, including medical expenses

associated with removal.