Monday March 13, 2000

COMPANY PRESS RELEASE

Transgenomic Announces Filing Of Registration Statement For Initial Public Offering

Transgenomic, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission for a public offering of its Common Stock, all of which will be sold by the Company. The terms of the offering are not yet disclosed and will be made only by prospectus. The offering will be managed by Chase H&Q, Bear, Stearns & Co. Inc. and Dain Rauscher Wessels.

Transgenomic is a leading provider of tools that enable researchers to discover and understand variation of the human genetic code, or genome, in order to accelerate and improve drug development and diagnostics. The Company’s focus is on the analysis of genetic variations in human, animal and bacterial genomes.

The registration statement relating to these securities has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.

For more information contact investorrelations@transgenomic.com.