Cepheid Reports Fourth Quarter and Full Year 20...(ing stock compensation expense and the ....)

amortization of acquired intangibles, is expected to be in the range of

$3 million to $5 million

Key milestones for 2008, underscoring the company's emphasis on market and test menu expansion, include:

-- Implementation of direct sales organization in the U.K.

-- European release of the Xpert HemosIL test

-- FDA clearance of the Xpert MRSA/SA test for SSTI

-- FDA clearance of the Xpert MRSA/SA test for blood culture

-- FDA clearance of the Xpert HemosIL test

-- European release of the Xpert Van A/Van B (VRE) test

-- European release of the Xpert C. difficile test

-- European release of the MRSA/SA test for nasal specimens

-- Market shipment of the GeneXpert Infinity-48 System

Conference Call Information:

John Bishop and Michael Myhre, Vice President, Corporate Controller, will host a webcast and conference call at 4:30 p.m. Eastern Time today to discuss Cepheid's financial results and business highlights. David Persing, M.D., Ph.D., Executive Vice President and Chief Medical and Technology Officer, and Robert Koska, Senior Vice President Worldwide Commercial Operations, will also participate in the Question-and-Answer portion of the call.

Interested participants and investors may access the teleconference call live by dialing 888-680-0860 (U.S./Canada) or 617-213-4852 (international), participant code 58037054. A telephonic replay will be available for seven days beginning at 6:30 p.m. Eastern Time. Access numbers for this replay are 888-286-8010 (U.S./Canada) and 617-801-6888 (international); participant code 29481680.

A live webcast of the call can be accessed on the Investors section of Cepheid's Web site at http://www.cepheid.com by clicking Investors: Events. Web participants are encouraged to go to the Web site 15 minutes prior to the start of the call to reg
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