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Orchid Cellmark to Purchase ReliaGene Technologies, Inc.
Date:10/22/2007

PRINCETON, N.J., Oct. 22 /PRNewswire-FirstCall/ -- Orchid Cellmark Inc. (Nasdaq: ORCH), a leading worldwide provider of identity DNA testing services, today announced that it has signed a definitive purchase agreement to acquire the outstanding stock of ReliaGene Technologies, Inc. for a purchase price of $5.6 million in cash and $3.0 million worth of shares of Orchid Cellmark restricted common stock. The purchase price is subject to adjustment based on ReliaGene's working capital. A portion of the purchase price will be held in escrow subject to satisfying certain conditions including the seller's indemnification obligations. The transaction is expected to close at the end of October. ReliaGene is a prominent and well respected provider of forensic and paternity DNA analysis services based in New Orleans, Louisiana and had 2006 annual revenue of $7.5 million.

"The acquisition of ReliaGene fits the criteria we are seeking in accelerating the growth of our business through acquisitions. There is essentially no customer overlap between the two companies and we believe the combined forensic casework, CODIS and paternity laboratory testing volumes should increase our operational efficiencies," said Thomas Bologna, President and Chief Executive Officer of Orchid Cellmark. Mr. Bologna further stated, "We believe this acquisition will begin to be accretive in the second half of 2008."

Dr. Sudhir Sinha, founder of ReliaGene said, "Having watched the progress Orchid Cellmark has made over the last year and knowing this business well, I strongly believe the strength of the combined companies will be very beneficial to both Orchid Cellmark and ReliaGene customers." Dr. Sinha further added, "As a believer in the stren
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SOURCE Orchid Cellmark Inc.
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