Wednesday July 24, 2002

COMPANY PRESS RELEASE

Webcast Alert: Transgenomic, Inc. Announces Second Quarter 2002 Earnings Conference Call

OMAHA, Neb., July 24 /PRNewswire-FirstCall/ -- Transgenomic, Inc. (Nasdaq: TBIO) announces the following Webcast:

If you are unable to participate during the live webcast, the call will be archived on the Web site www.transgenomic.com. To access the replay, click on the link provided under "New!" from 8 p.m. ET on July 31, or simply dial 402-220-0662 from any telephone. The archive will be available for 90 days.

Transgenomic, Inc. The Group's principal activity is the provision of innovative research tools to the genomic segment of the life sciences industry. These tools enable researchers to discover and understand variations in the human genetic code or genome and the relationship of these variations to disease. The Group's WAVE® System is designed to perform high speed, automated analyses of DNA molecules to identify the type, location and frequency of DNA mutations with a high degree of accuracy and consistency. The WAVE System is based on the Group's proprietary micro-bead technology. The customers of the Group include Harvard University, Stanford University, Millennium Pharmaceuticals and others. The Group's wholly owned subsidiaries provide sales and customer support outside the United States. The Group has sales offices in the United States, United Kingdom and Japan. In 2001, the group acquired Annovis Inc. Bio-systems accounted for 61% of 2001 revenues and bio-consumables, 39%.

Minimum Requirements to listen to broadcast: The Windows Media Player software, downloadable free from http://www.microsoft.com/windows/windowsmedia/EN/default.asp and at least a 28.8 kbps connection to the Internet. If you experience problems listening to the broadcast, send an e-mail to webcastsupport@tfprn.com.

For confirmation of release or further information contact: