Brisbane, CA, March 30, 2004--Medical-laser manufacturer Cutera (formerly Altus Medical) has done something the laser industry hasn't seen for a while now: launched an initial public offering. The company and its stockholders are offering 3,532,000 shares of common stock at $14/share. The stock will trade on the Nasdaq National Market under the symbol "CUTR." Piper Jaffray is the lead underwriter for the deal and will be assisted by SG Cowen and RBC Capital Markets.

Founded in 1998, Cutera designs, develops, manufactures, and markets the CoolGlide family of products for the removal of hair, leg and facial veins, wrinkles and benign pigmented lesions. Since gaining its first FDA clearance in 2000, Cutera has sold more than 1200 systems and 240 upgrades and plans to introduce at least one new product per year going forward. The company sells about 77% of its products in the U.S. but sees opportunities to expand its presence in international markets, such as Asia and Europe.

Copies of the final prospectus may be obtained from the offices of Piper Jaffray & Co., U.S. Bancorp Center, 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402; SG Cowen Securities Corporation, Two International Place, 27th Floor, Boston, MA 02110; or RBC Capital Markets Corporation, 60 South Sixth Street, Minneapolis, MN 55402.

Wed Mar 31 01:01:00 CST 2004