Protein Polymer Technologies, Inc. Announces An Extension Of The Expiration Date On Its Public Warrants

    SAN DIEGO, March 19, 1998 -- Protein Polymer Technologies, Inc. (Nasdaq: PPTI) announced today that its Board of Directors has approved the extension of the expiration date of the 1,667,500 warrants issued in connection with the Company's initial public offering in January 1992.  The extension will be effective as of March 17, 1998, and the new expiration date of the warrants is March 31, 1999.
    Protein Polymer Technologies, Inc., is a development stage biomaterials company focused on surgical repair and drug delivery.  PPTI's genetically engineered protein-based biomaterials are specifically designed to control or direct the activities of mammalian cells.  Product candidates being developed include tissue adhesives and sealants, tissue augmentation bulking agents, drug delivery systems and wound healing materials.  PPTI also markets a line of protein polymer-activated cell culture products under the trade names of ProNectin(R) and SmartPlastic(R).