Columbia Laboratories Grants Approval to Allow Shareholder To Increase Position to 19.9%

Columbia Laboratories Grants Approval to Allow Shareholder To Increase Position
to 19.9% 


LIVINGSTON, N.J., Dec. 1  /PRNewswire-FirstCall/ -- Columbia Laboratories  today
announced that its Board of Directors has approved a request by Perry Corp.
("Perry") to allow Perry to acquire Beneficial Ownership, as defined by the
Company's Shareholder Rights Plan, of up to 19.9% of the Company's currently
outstanding Common Stock.  Under the Rights Plan, Perry would have been limited
to a maximum 15% Beneficial Ownership. Approval was contingent upon the Company
and Perry entering into an eighteen month standstill agreement relating to
additional increases in Perry's investment and change of control transactions.

"We are very pleased that Perry has indicated interest in increasing its
investment in the Company," said Fred Wilkinson, Columbia's president, chief
executive officer, and chairman.  "We believe that Perry understands the
potential of our products and technology, and is supportive of our plans to
realize that potential."

About Columbia Laboratories

Columbia Laboratories, Inc. is a U.S.-based international pharmaceutical company
dedicated to research and development of women's health care and endocrinology
products, including those intended to treat infertility, dysmenorrhea,
endometriosis and hormonal deficiencies. Columbia has introduced Striant(TM)
(testosterone buccal system) for treatment of hypogonadism in men. Columbia's
products primarily utilize the Company's Bioadhesive Delivery System (BDS)
technology. For more information, please visit http://www.columbialabs.com/.

This press release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Those statements include statements regarding the intent, belief or current
expectations of the company and its management team. Investors are cautioned
that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements. Such
risks and uncertainties include, among other things, the successful marketing of
existing products, including Striant(TM) (testosterone buccal system),
Prochieve(R) 8% (progesterone gel), Prochieve(R) 4% (progesterone gel),
RepHresh(R) Vaginal Gel, and Advantage-S(R) Contraceptive Gel; timely and
successful development of new products; timely and successful completion of
clinical studies, including the PROTERM Study; success in obtaining acceptance
and approval of new products by the FDA and international regulatory agencies;
and competitive economic and regulatory factors in the pharmaceutical and health
care industry; general economic conditions; and other risks and uncertainties
that may be detailed, from time-to-time, in Columbia's reports filed with the
Securities and Exchange Commission. 

DATASOURCE: Columbia Laboratories, Inc.



CONTACT:  Investor Relations, Ritu Baral of The Trout Group,

[phone], ext. 25, for Columbia Laboratories, Inc.; or James

Apostolakis, Vice Chairman, [phone], or David Weinberg, Chief

Financial Officer, [phone], both of Columbia Laboratories, Inc.



Web site:  http://www.columbialabs.com/ 

Copyright