Meridian Bioscience offers 5% convertibles due 2013 for 7% convertibles

New York, Oct. 24 - Meridian Bioscience, Inc. said it is offering to exchange $16 million of new 5% convertible subordinated debentures due 2013 for an equal principal amount of its existing 7% convertible subordinated debentures due 2006.

The new securities have a lower conversion price of $14.50 per share compared to $16.09 on the existing debentures.

The new debentures will be callable from Sept. 1, 2004 onwards at 103, declining to par on Sept. 1, 2007. The existing securities became callable on Sept. 1, 2003 at par.

Meridian, a Cincinnati maker of diagnostic products for infectious diseases, currently has $20 million of the 7% convertibles outstanding.

Assuming the company is able to exchange $16 million of the existing convertibles, it will start redeeming the remaining $4 million for cash at par once the exchange is complete. If less than $16 million is exchanged, some or all will remain outstanding.

The offer was described in a preliminary prospectus filed with the Securities and Exchange Commission. No expiration date was included.

D.F. King & Co., Inc. is the information agent and LaSalle Bank, NA is the exchange agent.

Details at:

http://www.sec.gov/Archives/edgar/data/794172/000095015203009068/l03714aexv99waw1.txt

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