Sales jump in First Quarter 2002
Invitro International
Contact: W. Richard Ulmer
17751 Sky Park East, Suite G
(800) 2-INVITRO
Irvine, CA 92614
http://www.invitrointl.com

Irvine, CA January 31, 2002-InVitro International (OTC, IVRO) today reported fiscal year ending September 30, 2001 sales of $567,754 (-12% versus fiscal 2000 revenues) with net income of $2,694 (versus a net loss of $91,902 last year). IVRO President and CEO, W. Richard Ulmer, said: “Clearly, we are disappointed with fiscal 2001 results. We believe in our core business technology and have several bright new opportunities as a result of our increased advertising presence. We did manage to record a small net profit in this very difficult year, and we are determined to deliver better results in 2002.”

In other company news, IVRO said first quarter 2002 sales jumped 33% compared to the same quarter in 2001. Quarter ending December 31, 2001 sales exceeded $170,000.

This press release may contain “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company’s technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
	Three months ended September 30		Twelve months ended September 30
	2001	2000	2001	2000
Revenues	130.529	161,745	567,754	648,487
Costs and expenses	139,082	155,411	573,342	627,379
Income (loss) from operations	(8,553)	6,334	(5,588)	21,108
Other income (loss)	755	3,360	8,283	(113,010)
Net income (loss)	(7,798)	9,694	2,695	(91,902)
Income (loss) per common share	(0.0005)	0.0007	0.0002	(0.0063)
Weighted average common shares outstanding	14,507,304	14,507,304	14,507,304	14,507,304
CONDENSED CONSOLIDATED BALANCE SHEET

			September 30, 2001	September 30, 2000
Cash, cash equivalents and marketable securities			157,172	177,106
Other current assets			214,894	199,686
Total current assets			372,066	376,792
Noncurrent assets			49,306	60,587
Total assets			421,372	437,379
Current liabilities			20,137	37,030
Shareholders’ equity			401,235	400,349
Total liabilities and equity			421,372	437,379