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Abaxis CEO Clint Severson Named 'Entrepreneur of the Year' by Forbes Magazine

Abaxis Ranked 11th of the '200 Best Small Companies In America'

UNION CITY, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Abaxis, Inc. (Nasdaq: ABAX), a medical products company manufacturing point-of-care blood chemistry analysis systems, announced today that Clint Severson, Abaxis' chairman and chief executive officer, was named "Entrepreneur of the Year" by Forbes Magazine in its October 29, 2007 issue. Also in that issue, Abaxis was ranked eleventh of the "200 Best Small Companies in America."

"I am gratified that I, along with all of our dedicated employees, have been honored by Forbes, the iconic weekly business publication of record," said Mr. Severson. "These awards are testament to the dedication of our employees to provide widely usable technology to healthcare providers nationwide that can produce timely, accurate diagnostic results that can lead to improved patient outcomes and better quality of life. We thank Forbes for these high honors and we pledge to live up to these accolades each and every day."

About Abaxis, Inc.

Abaxis develops, manufactures and markets portable blood analysis systems for use in any veterinary or human patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 5.1 kilogram (11.2 pounds), portable analyzer and a series of single-use plastic discs, called reagent discs that contain all the chemicals required to perform a panel of up to 13 tests on veterinary patients and 14 tests on human patients. The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma samples. The system provides test results in less than 12 minutes with the precision and accuracy equivalent to a clinical laboratory analyzer. The veterinary business also provides to the veterinarian and research market a line of hematology instruments for point of care complete blood counts (CBC).

This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Abaxis claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. Specific forward-looking statements contained in this press release include, but are not limited to, risks and uncertainties related to the market acceptance of the Company's products and the continuing development of its products, risks associated with manufacturing and distributing its products on a commercial scale, risks associated with entering the human diagnostic market on a larger scale, risks involved in carrying of inventory, risks from unexpected problems or delays in the Company's manufacturing facility, risks associated with the ability to attract and retain competent sales personnel, general market conditions, competition, risks and uncertainties related to its ability to raise capital in order to fund its operations and other risks detailed from time to time in Abaxis' periodic reports filed with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made. Abaxis does not undertake and specifically disclaims any obligation to update any forward-looking statements.

Contact: Clint Severson Lytham Partners, LLC

Chief Executive Officer Joe Dorame, Joe Diaz & Robert Blum

Abaxis, Inc. 602-889-9700


SOURCE Abaxis, Inc.
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