Bioject Clarifies Elan's Holdings of Bioject Stock

  BEDMINSTER, N.J., June 21 /PRNewswire-FirstCall/ -- Bioject Medical
Technologies Inc. (Nasdaq: BJCT) announced today that one of its shareholders,
Elan Pharmaceutical Investments, Ltd., disclosed in filings made with the
Securities and Exchange Commission that on June 15, 2004 it sold an aggregate
of 2,036,148 shares of Bioject common Stock in open market transactions and
currently holds 347,788 shares of Bioject common stock. In addition, Elan owns
warrants to purchase 505,334 shares of Bioject common stock at an exercise
price of $7.50 per share. These warrants expire on June 30, 2006. 
  Bioject Medical Technologies Inc., based in Bedminster, New Jersey, with
operations in Portland, Oregon, is an innovative developer and manufacturer of
needle-free drug delivery systems and vial adapter products.  Needle-free
injection works by forcing medication at high speed through a tiny orifice
held against the skin.  This creates a fine stream of high-pressure fluid
penetrating the skin and depositing medication in the tissue beneath.  The
Company is focused on developing mutually beneficial agreements with leading
pharmaceutical, biotechnology, and veterinary companies. 
For more information about Bioject, visit:

SOURCE  Bioject Medical Technologies Inc. 
-0-                             06/21/2004 
/CONTACT:  Cecelia C. Heer, Director, Investor Relations, of Bioject
Medical Technologies Inc., +1-908-470-2800, ext. 5103, or 
/Web site: / 
CO:  Bioject Medical Technologies Inc.; Elan Pharmaceutical Investments, Ltd.
ST:  New Jersey, Oregon
-0- Jun/21/2004 22:00 GMT
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