TRANSCEPT AND COLOCATION TECHNOLOGIES PARTNER TO ADDRESS THE NEEDS OF THE WIRELESS NETWORK

- Innovative Solutions for Unique Wireless Network Challenges -

New Orleans, LA - February 28, 2000 - Transcept Inc., a developer of innovative and cost-effective RF products for wireless telecommunications, today announced at CTIA's Wireless 2000 trade show the formation of a marketing and technology partnership with CoLocation Technologies L.L.C., of Atlanta, Georgia. CoLocation Technologies is a provider of solution-based collocation products and services to the wireless industry. The Transcept/CoLocation Technologies partnership is aimed at providing wireless service providers with a variety of innovative solutions to meet the challenges of establishing effective wireless networks.

"Transcept's proven ability to provide solutions for specific network environments, and CoLocation's ability to allow multiple operators to share antenna sites combine to resolve a number of challenges faced by the industry," said Kevin Garrett, President, CoLocation Technologies, L.L.C."

"We believe the synergies between our two companies will enable us to work in tandem to create new opportunities for wireless service providers to build better networks," said Steven Johnson, President and CEO, Transcept, Inc. "We anticipate a long, ongoing relationship that will be to the benefit of the wireless industry and users of wireless technologies."

Transcept's TransCell family of innovative wireless RF distribution solutions currently supports PCS communications for wireless service providers. CoLocation Technologies' SpectraShare is a patented RF signal combining and distribution system that allows the sharing of tower antennas by up to six PCS provider networks.

About Transcept: Based in Manchester, New Hampshire, Transcept is a privately held designer and manufacturer of innovative communications equipment for commercial wireless networks. Transcept offers cost-effective solutions that enable wireless service providers to increase call capacity and RF coverage within their networks. For more information about Transcept, visit www.transcept.com.

About CoLocation Technologies: CoLocation Technologies, located in Atlanta, Georgia, was established by Scientific Research Corporation as a privately held technology-based company marketing new products and services for the collocation market. For additional information, please contact Cindy Scarbrough, Dir. of Sales at 770-989-9411 or cscarbrough@colotech.com..

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Press Contacts:
Christopher Cole            
Transcept, Inc.               
(603) 645 5581            
ccole@transcept.com            

Mike Spinney
Sterling Hager, Inc.
(617) 926 6665 x372
mike@sterlinghager.com