Date: Wed, 29 Mar 2000 10:43:20 EST

Inamed Corp. Appoints Ilan Reich as Co-CEO, Files Registration Statement for Secondary Shares, and Comments on Research Analyst Estimates

SANTA BARBARA, Calif.--(BUSINESS WIRE)--March 29, 2000--Inamed Corp. (Nasdaq:IMDC) today announced the appointment of its president, Ilan Reich, to the additional position of Co-Chief Executive Officer.

Richard G. Babbitt, Inamed's chairman and CEO, said: "Ilan and I have been partners since we joined the company in January 1998 as the new management team, and he has been an important contributor to the many successes at Inamed since then.

"Ilan's appointment as Co-CEO recognizes those achievements and paves the way for a smooth succession plan at the appropriate time in the future. In the meantime, as always, we will be managing Inamed together with a view towards continually enhancing shareholder value."

Inamed Corp. also announced that it is filing today a registration statement covering approximately 1.22 million shares of common stock held by eight institutional or individual stockholders and their affiliates.

Virtually all of these shares were acquired last year in connection with the financing of the breast implant litigation settlement, and do not include any shares owned by Appaloosa Management L.P., which is the company's largest shareholder.

Although upon effectiveness of the registration statement all of the shares being registered today would be eligible for sale, Inamed recently canvassed those stockholders with respect to their present intentions and learned the following:

-- Shareholders owning approximately 87 percent of the 1.2 million shares indicated that they have no present intention of selling any shares at current market prices; rather, registration of such shares is being pursued to improve their marginability;

-- One shareholder owning approximately 70,000 shares (6 percent of the 1.2 million) has indicated an intention to sell such stock to an institutional buyer in a pre-negotiated, block transaction;

-- Another shareholder owning approximately 80,000 shares (7 percent of the 1.2 million) has indicated a present intention to sell some of those shares in open market transactions from time to time and to retain the remainder.

Finally, Inamed Corp. commented on research analysts' earnings estimates. In early February 2000, the company indicated that it was comfortable with one research analyst's estimates of $1.80 per fully diluted share for 2000 and $2.30 per fully diluted share for 2001. Today, Inamed confirmed that based on trends and results so far in 2000 it continues to be comfortable with those estimates.

Inamed is a global surgical and medical device company engaged in the development, manufacturing and marketing of products for the plastic and reconstructive surgery, aesthetic medicine and obesity markets.

Inamed sells a variety of lifestyle products used to make people look younger and more attractive, including breast implants for cosmetic augmentation and collagen-based facial implants to correct facial wrinkles and to improve lip definition.

Inamed also sells products that address women's health issues, including breast implants for reconstructive surgery following a mastectomy, and devices that treat severe obesity and urinary incontinence.

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CONTACT:

Inamed Corp.

Ilan Reich/Michael Doty, 212/273-3430