Psychemedics Receives FDA Clearance for Cocaine Test

NEWS RELEASE 11/12/01

Cambridge, Massachusetts, November 12, 2001 - Psychemedics Corporation (PMD: AMEX) today announced that it has received 510(K) clearance from the Food and Drug Administration (FDA) for its test for the detection of cocaine in human hair.

"With the use of cocaine prevalent in society, it is critical that businesses and professionals have access to effective testing through hair analysis using our cocaine assay", said Ray Kubacki, President and Chief Executive Officer of Psychemedics. "We are pleased to have received FDA clearance for another one of our hair testing products. We believe that FDA clearance of our products will encourage the use of Psychemedics’ hair analysis in a wider range of applications."