CHICAGO, Jan. 17 /PRNewswire-FirstCall/ -- The Female Health Company (OTC:FHCO) (BULLETIN BOARD: FHCO) announced today a program to repurchase up to 1,000,000 shares of the Company's common stock. The program will remain in place for a period of one year. The Company's Board of Directors approved this program because it believes the market has undervalued the Company's stock and that implementing a repurchase program represents a good use of the Company's surplus cash. The Company will continue this program during the twelve months period as long as it believes its stock is undervalued. The shares may be purchased from time to time in open market transactions or negotiated transactions at the Company's discretion, subject to market conditions and other factors, including regulatory considerations. About the Female Health Company, Inc. - The Female Health Company, based in Chicago, Illinois, manufactures and markets the FC Female Condom(R), which is primarily distributed by public health organizations and donor groups in over 90 developing countries around the world. World-wide, the Female Condom is available in various programs in 108 countries. The Company owns certain worldwide rights to the FC Female Condom(R), including patents that have been issued in the United States, United Kingdom, Japan, France, Italy, Germany, Spain, the European Patent Convention, the People's Republic of China, Canada, South Korea and Australia. FC Female Condom(R) is the only available FDA-approved product controlled by a woman that offers dual protection against sexually transmitted diseases, including HIV/AIDS, and unintended pregnancy. "Safe Harbor" statement under the Private Securities Litigation Reform Action of 1995: The statements in this release which are not historical fact are forward-looking statements based upon the Company's current plan and strategies, and reflect the Company's current assessment of the risks and uncertainties related to its business, including such things as product demand and market acceptance; the economic and business environment and the impact of government pressures; currency risks; capacity; efficiency and supply constraints; and other risks detailed in the Company's press releases, shareholder communication and Securities and Exchange Commission filings. Actual events affecting the Company and the impact of such events on the Company's operations may vary from those currently anticipated. For more information about the Female Health Company visit the Company's website at http://www.femalehealth.com/ and http://www.femalecondom.org/ . If you would like to be added to the Company's e-mail alert list, please send an e-mail to . DATASOURCE: The Female Health Company CONTACT: William R. Gargiulo, Jr., +1-231-526-1244, or Donna Felch, +1-312-595-9742, both of The Female Health Company Web site: http://www.femalehealth.com/ http://www.femalecondom.org/

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