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                  Maxxim Medical to Acquire Circon Corporation

Maxxim Medical, Inc. (NYSE: MAM), and Circon Corporation (NASDAQ: CCON)
announced that they have entered into a definitive agreement for Maxxim to
acquire Circon. Under the terms of the agreement, Maxxim will commence a cash
tender offer for all of the outstanding shares of Circon common stock at a net
price of $15.00 per share. The total acquisition cost is approximately $205
million in cash and the assumption of approximately $38 million of outstanding
debt. The Boards of Directors of both companies have approved the transaction.
Donaldson, Lufkin & Jenrette advised Maxxim.

Completion of the tender offer is subject to certain conditions, including
among others the tender of at least a majority of the outstanding shares of
Circon and the expiration of the applicable waiting period under the
Hart-Scott-Rodino Act.

Circon, with annual revenues of approximately $155 million, headquartered in
Santa Barbara, CA, is a leading designer, manufacturer, marketer, and
distributor of endoscopy systems for diagnosis and minimally invasive surgery.

"Circon is an excellent strategic fit for Maxxim and provides a unique
opportunity to strengthen Maxxim's long term competitive position," said Ken
Davidson, Maxxim's Chairman, President and Chief Executive Officer. "It should
bring us an outstanding array of products and talented employees and should
enhance our ability to compete in the healthcare marketplace."

Mr. Davidson added, "This transaction also adds important scale to our
operations, offers cost synergies, expands our marketing capabilities, adds new
customers and promotes higher levels of service. We expect this transaction to
be accretive to Maxxim's earnings."

George Cloutier, President and Chief Executive officer of Circon, said, "The
Maxxim/Circon transaction represents an opportunity for us to maximize
shareholder value and allows for the preservation of Circon's identity as a
world leader in endoscopy."

Mr. Cloutier continued, "Maxxim's decision to utilize Circon as a primary
platform for substantial growth in diagnostic endoscopy and minimally invasive
surgery is truly an exciting opportunity for our employees to participate as
members of the Maxxim team."

Maxxim Medical is a major, diversified manufacturer, distributor and marketer
of disposable specialty medical products such as custom procedure trays,
medical gloves, electrosurgical systems and disposable products for use in
cardiology, radiology and critical care. Maxxim has annual revenues of in
excess of $500 million.

FORWARD LOOKING INFORMATION


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Certain statements in the release are "forward looking statements" within the
meaning of the private litigation Reform Act of 1995. All forward looking
statements involve risks and uncertainties. In particular, any statements
contained herein regarding the consummation and benefits of future
acquisitions, as well as expectations with respect to future sales, operating
efficiencies and product expansion, are subject to known and unknown risks,
uncertainties and contingencies, many of which are beyond the control of the
Company, which may cause actual results, performance or achievements to differ
materially from anticipated results, performance or achievements. Factors, that
might affect such forward looking statement include, among other things,
overall economic and business conditions, the demand for the Company's goods
and services, competitive factors in the industries in which the Company
competes, changes in government regulation and the timing, impact and other
uncertainties of future acquisitions.




















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