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A.P. Pharma to Hold Fourth Quarter Conference Call February 27, 2003

REDWOOD CITY, Calif., Feb 21, 2003 (BUSINESS WIRE) -- A.P. Pharma, Inc. (NASDAQ:APPA), a specialty pharmaceutical company, will release its 2002 fourth quarter and year-end results prior to market open on Thursday, February 27, 2003.

Paul Goddard, chairman, Michael O'Connell, president and chief executive officer, and Gordon Sangster, chief financial officer, will be hosting an investment-community conference call beginning at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) on Thursday, February 27, 2003 to discuss the results and to answer questions.

To participate in the live call by telephone, please dial (888) 803-8275 from the U.S., and for international callers, please dial (706) 634-1287. A telephone replay will be available for 48 hours by dialing (800) 642-1687 from the U.S., or (706) 645-9291 for international callers, and entering reservation number 8689235.

Individuals interested in listening to the conference call via the Internet may do so by visiting www.appharma.com. A replay will be available on the Company's Web site for 14 days.

About A.P. Pharma

A.P. Pharma is a specialty pharmaceutical company focused on the development of ethical (prescription) pharmaceuticals utilizing its proprietary polymer-based drug delivery systems. The Company's primary focus is the development and commercialization of its bioerodible injectable and implantable systems under the trade name Biochronomer. Initial targeted areas of application for the Company's drug delivery technology include pain management, inflammation, oncology and ophthalmology applications. The Company's product development programs are funded by royalties from topical products currently marketed by pharmaceutical partners and by proceeds from the divestiture of its cosmeceutical product lines as well as fees it receives from collaborative partners. For further information visit the Company's Web site at www.appharma.com.

CONTACT:
A.P. Pharma, Inc., Redwood City
Gordon Sangster, 650/366-2626
or
Lippert/Heilshorn & Associates
Investor relations:
Bruce Voss, 310/691-7100 (bvoss@lhai.com)

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