Conor Medsystems Announces Public Offering of Common Stock

MENLO PARK, Calif., July 24  /PRNewswire-FirstCall/ -- Conor Medsystems, Inc. (NASDAQ:CONR) today announced that it is offering to sell, subject to market and other conditions, 3,000,000 shares of newly issued common stock pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.  A selling stockholder intends to grant the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock to cover over-allotments, if any.

Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated are acting as joint book-running managers of the offering, and, together with Lehman Brothers Inc., Cowen and Company, LLC and CIBC World Markets Corp., are acting as representatives of the underwriters.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state in which such offer, solicitation or sale is not permitted.  Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained, when available, from the prospectus department of Citigroup Global Markets Inc. (Prospectus Department, 140 58th Street, Brooklyn, NY 11220, Fax: [phone]), or the prospectus department of Morgan Stanley & Co. Incorporated at 180 Varick, New York, NY, 10014, by telephone at 866-718-1649 or by emailing .

The issuer has filed a registration statement (including a base prospectus) with the SEC for an offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and related prospectus supplements and other documents that the issuer has filed or will file with the SEC for more complete information about the issuer and this offering.  You may get these documents for free by visiting EDGAR on the SEC website at http://www.sec.gov/ .  Alternatively, you may obtain, when available, a preliminary prospectus supplement and accompanying prospectus as indicated above.

About Conor Medsystems

Conor Medsystems, Inc. develops innovative controlled vascular drug delivery technologies, and has initially focused on the development of drug eluting stents to treat coronary artery disease. 

DATASOURCE: Conor Medsystems, Inc.



CONTACT:  investors, Michael Boennighausen, Chief Financial Officer, of

Conor Medsystems, Inc., [phone]



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

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