NEW DIRECTORS ELECTED AT BIOSPHERICS SHAREHOLDERS' MEETING; AUTHORIZED SHARES INCREASED Media Contact: Mark Hopkinson 561/ 750-9800 x14 Email: mhopkinson@TransMediagroup.com Investor Relations: Richard Levin 301/ 419-3900 Email: rlevin@biospherics.com FOR IMMEDIATE RELEASE: BELTSVILLE, MD., May 23, 2000--Biospherics Incorporated (NASDAQ/BINC) shareholders, at the Company's Annual Meeting yesterday, elected a slate of seven Directors for the ensuing year, approved increasing the Company's authorized shares from 18 million to 50 million, and retained Grant Thornton LLP as the Company's public accountant for the year 2000. The formal business meeting, originally scheduled for May 15, had been postponed until May 22 because of the lack of a quorum caused by a delay in receiving proxy returns. Elected as Directors for the year 2000-2001 were: Lionel V. Baldwin, Ph.D., President, National Technological University, Fort Collins, Colorado. Thomas W. Gantt, President, TWG Associates. Gilbert V. Levin, Ph.D., President, Chief Executive Officer, and Chairman of the Board, Biospherics Incorporated. M. Karen Levin, Vice President for Corporate Communications, Biospherics Incorporated. Anne S. MacLeod, Ph.D., Professor, College of Library and Information Services, University of Maryland, College Park. Thomas G. Moore, President and Chief Executive Officer, Community Bank of Maryland. Deborah S. Streb, Chief Administrative Officer, UnitedHealthcare. First quarter 2000 results for Biospherics were:   Three Months Ended March 31, Revenue Operating expense Income (loss) from operations Net income (loss) Net income (loss) per share, diluted 2000 $5,253,517 4,232,507 1,021,010 $1,018,377 $ 0.09 1999 $2,965,895 3,893,655 (927,760) $(993,814) $ (0.11) Certain statements contained herein are "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission, including the filing on Form 8-K made on March 3, 1999. Under its motto, "Technologies for Information and Health," Biospherics' mission is to provide guidance and products to improve the quality of life. Biospherics offers biotechnology innovations, information technology solutions, and information center services.