Acacia Research to Report Record Quarterly Revenues

Business Wire, Sept 24, 2001

Business Editors

PASADENA, Calif.--(BUSINESS WIRE)--Sept. 24, 2001

Acacia Research Corporation (Nasdaq:ACRI) announced today that the company is scheduled to report record quarterly revenues when it releases third quarter financial results on Oct. 24.

The company's previous record quarterly revenues of $10.1 million were reported in this year's second quarter.

"Acacia Research subsidiaries have entered into 12 revenue producing agreements since the beginning of the year, including agreements with Roche Diagnostics, NASA, Thomson Multimedia, Philips Electronics, Hitachi, Samsung, Sanyo, Funai, Daewoo, JVC, L.G. Electronics and Orion," commented Chairman and CEO, Paul Ryan. "The fundamental value of Acacia Research continues to grow based on both the near-term and future revenues provided by these agreements."

"We have continued to build shareholder value thus far in the third quarter," Ryan further commented. "Our CombiMatrix subsidiary entered into a strategic alliance with Roche Diagnostics that provides for payments including royalties, payments for products, and R&D projects as part of a 15-year revenue sharing agreement for the worldwide distribution of CombiMatrix's products by Roche. CombiMatrix also entered into a license and supply agreement with NASA for the use of its bio-chips and related products.

"Our Soundview Technologies subsidiary continued to license its technology to television manufacturers, with the addition of televisions sold under the Orion and Sansui brands and has now entered into royalty licenses with well over half of the industry. The company continues to pursue royalty licenses with the remainder of the television manufacturing industry."

Acacia Research is in the strongest financial position in the company's history, including $87 million of cash and short-term investments reported as of June 30, 2001. The company was cash-flow neutral during the second quarter and has no debt or forward equity commitments.

About Acacia Research Corporation

Acacia Research develops and operates life science and enabling technology companies. The company's core technology opportunity has been developed through its subsidiary, CombiMatrix Corporation. Acacia Research intends to build and acquire companies in the life science and material science fields that will utilize CombiMatrix's biochip technology. Acacia Research's Web site is located at www.acaciaresearch.com.

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the Company's business plans. Such statements are subject to a number of factors and uncertainties, such as future economic conditions, changes in consumer demand, and legislative, regulatory and competitive developments. Acacia Research urges investors to review in detail the risks and uncertainties disclosed in the Company's filings under the Securities Exchange Act of 1934, as amended, including, but not limited to the Company's annual report on Form 10-K for the year ended December 31, 2000, the Company's quarterly reports on Form 10-Q, and the Company's Registration Statement on Form S-3 filed on February 6, 2001, copies of which can be obtained from the Company or the Securities and Exchange Commission. The Company expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein.