January 1999 Press Releases

CHICAGO, January 25, 1999 The Female Health Company (AMEX: FHC) today announced that it has consented to the removal of its Common Stock from the American Stock Exchange (AMEX) since the Company does not fully satisfy all the guidelines of the AMEX for continued listing. As the Company announced on February 11, 1998, AMEX notified the Company that it did not meet certain of AMEX’s continued listing guidelines and that the exchange was reviewing the Company’s listing eligibility. AMEX advised the Company that the last day of trading will be Friday, February 5, 1999. The Company believes that a market for the purchase and sale of the Company’s common stock will develop over-the-counter following the AMEX trading halt and the Company intends to take all action within its control to ensure that such a market does develop.

The fact that the Company does not meet certain AMEX guidelines for continued listing does not reduce its prospective opportunities. Management believes these opportunities are strong based the anticipated launch of The Female Condom in Japan, pending regulatory approval, and expansion of the United Nations Joint Programme on AIDS’ (UNAIDS) program for The Female Condom. For additional information visit the Company’s web site at www.femalehealth.com. A letter will be sent to all shareholders within a few days discussing these events.

As announced on December 3, 1998, the Company signed a private equity line of credit agreement to provide the Company with a source of capital. However, one of the criteria for stock sales under that agreement was that the Company’s stock be listed on AMEX. The Company hopes to restructure this agreement. If it cannot, the Company will seek alternate sources of financing.

The Female Health Company, based in Chicago, owns certain worldwide rights to The Female Condom including patents which have been issued in the United States, United Kingdom, Japan, France, Italy, Germany, Spain, The People’s Republic of China, Canada, New Zealand, South Korea and Australia. The Female Condom is the only available product controlled by a woman that protects against sexually transmitted diseases including HIV/AIDS and unintended pregnancy.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements in this release which are not historical fact are forward-looking statements based upon the Company’s current plans and strategies, and reflect the Company’s current assessment of the risks and uncertainties related to its business, including such things as product demand and market acceptance; the economic and business environment and the impact of governmental regulations, both in the United States and abroad; the effects of competitive products and pricing pressures; currency risks; capacity; efficiency and supply constraints; and other risks detailed in the Company’s press releases, shareholder communications and Securities and Exchange Commission filings. Actual events affecting the Company and the impact of such events on the Company’s operations may vary from those currently anticipated. 

For more information about The Female Health Company toll-free via fax,
dial 1-800-PRO-INFO and enter company code "FHC."
Also, visit the Company’s web site at www.femalehealth.com.

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