10/17/2001

TheraSense, Inc. Announces Exercise of Over-Allotment Option for Initial Public Offering

ALAMEDA, Calif., Oct. 17 /PRNewswire/ -- TheraSense, Inc. (Nasdaq: THER - news) announced today that on October 16, 2001, the underwriters in the company's initial public offering exercised in full their over-allotment option.

As a result, TheraSense sold an additional 900,000 shares at the original initial public offering price of $19.00, bringing the total proceeds of the offering before commissions and expenses to $131.1 million. The offering was led by U.S. Bancorp Piper Jaffray, and co-managed by SG Cowen and Thomas Weisel Partners LLC.

Founded in 1996, TheraSense develops, manufactures and sells easy to use glucose self-monitoring systems that dramatically reduce the pain of testing for people with diabetes.

A Prospectus relating to these securities may be obtained from U.S. Bancorp Piper Jaffray Equity Capital Markets, 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402-7020 (Telephone inquiries to 612-303-6220); SG Cowen Securities Corporation, One Financial Square, 27th Floor, New York, NY 10005; or Thomas Weisel Partners LLC, Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104.

For further information, contact Charles T. Liamos, Vice President and Chief Financial Officer of TheraSense, Inc., +1-510-749-5436.