Wednesday October 23, 2002

COMPANY PRESS RELEASE

Transgenomic, Inc. Announces Third Quarter Earnings Release Conference Call Webcast

OMAHA, Neb., Oct. 23 /PRNewswire-FirstCall/ -- Transgenomic, Inc. (Nasdaq: TBIO) announces the following Webcast:

What: Transgenomic, Inc. Third Quarter Earnings Release Conference Call
When: 10/30/02 at 5:00 p.m. Eastern
Where: http://www.firstcallevents.com/service/ajwz367536602gf12.html
How: Live over the Internet -- Simply log on to the web at the address above.
Contact: Mitchell L. Murphy, Investor Relations, +1-402-452-5437

(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.)

About Transgenomic

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%.