CryoLife, Inc. Intends To File 10-Q on Monday, August 19, 2002

ATLANTA, Aug 15, 2002 /PRNewswire-FirstCall via COMTEX/ -- CryoLife, Inc. (NYSE: CRY), a leader in the development and commercialization of living human tissue implantable devices, and a manufacturer and distributor of stentless heart valves and surgical adhesives, announced this morning that it did not file its 10-Q for the quarter ended June 30, 2002, on August 14, 2002, as required by SEC rules, because of the FDA order that CryoLife received in the late afternoon of August 13, 2002. CryoLife is still evaluating the potential impact of the FDA order, as detailed in its press release dated August 14, 2002. CryoLife filed a 12b-25 Notification of Late Filing on Wednesday, August 14, 2002, notifying the SEC of the delay. CryoLife presently plans to file the 10-Q on Monday, August 19, 2002, as provided by Rule 12b-25.

When CryoLife files its 10-Q for the quarter ended June 30, 2002, it anticipates that both its CEO and CFO will certify its financials.

Founded in 1984, CryoLife, Inc. is a leader in the development and commercialization of implantable living human tissues for use in cardiovascular, vascular and orthopedic surgeries throughout the United States and Canada. The Company's BioGlue(R) surgical adhesive is FDA approved as an adjunct to sutures and staples for use in adult patients in open surgical repair of large vessels and is CE marked in the European Community and approved in Canada and Australia for use in vascular and pulmonary sealing and repair.

The Company also manufactures the SynerGraft(R) heart valve and the SynerGraft vascular graft, the world's first tissue-engineered heart valve and vascular replacements, and the CryoLife-O'Brien(R) and CryoLife-Ross(R) stentless porcine heart valves, which are CE marked for distribution within the European Community. The human heart valves processed by CryoLife using the SynerGraft technology are distributed in the U.S. under the trade name CryoValve(R)SG.

For additional information about the company, visit CryoLife's web site: http://www.cryolife.com .

    Contact:   D. Ashley Lee
               Vice President, Chief Financial Officer
               (770) 419-3355