Given Imaging's M2A Capsule Endoscope to be Reimbursed by Menora Insurance for all Small Bowel Indications

First insurance company in Israel to issue policy coverage for Capsule Endoscopy

YOQNEAM, Israel - July 3, 2003 - Given Imaging (NASDAQ: GIVN) announced today that Menora Insurance Company, one of Israel’s largest insurance companies, has issued reimbursement coverage of capsule endoscopy for direct imaging of the entire small intestine. Diseases of the small intestine include types of inflammatory bowel disease, such as Crohn’s disease, obscure bleeding, small intestinal tumors and malabsorptive diseases such as celiac.

David Bornstein, Medical Director at Menora Insurance said, "Many patients are required to undergo numerous repeated examinations which do not yield conclusive diagnoses. In addition to being painful and frustrating to patients, these tests represent unnecessary costs to the health care system. Recently published studies clearly show that the capsule endoscope has a superior diagnostic yield and provides a conclusive diagnosis for people suffering from digestive diseases. After reviewing the medical literature, we believe that by making capsule endoscopy available to our members, we will help deliver cost savings to the healthcare system and provide our policy holders with true added value."

"I am pleased that Menora is the first private insurer in Israel to provide reimbursement for capsule endoscopy for all indications in the small bowel," said Gavriel D. Meron, President and CEO of Given Imaging.

Capsule endoscopy is now included in Menora’s flagship health insurance program, which provides coverage for individuals and large groups such as the Israeli Physicians Union and the Israeli Nurses Union.

About Given Imaging
Given Imaging develops, produces and markets the Given® Diagnostic System featuring the M2A® Capsule Endoscope, the only non-invasive method for direct visualization of the entire small intestine. The system uses a disposable miniature video camera contained in a capsule which is ingested by the patient. The M2A capsule passes naturally through the digestive tract, transmitting high quality color images, without interfering with the patient's normal activities. The system received clearance from the FDA in August 2001 and received permission to affix the CE mark in May 2001. Distribution channels for the system have been established in more than 50 countries worldwide. The M2A has been utilized to diagnose a range of diseases of the small intestine including Crohn's Disease, Celiac disease and other malabsorption disorders, benign and malignant tumors of the small intestine, vascular disorders, medication related small bowel injury, as well as a range of pediatric small bowel disorders. For more information, visit www.givenimaging.com.

This press release contains forward-looking statements about Given Imaging, including projections about our business, our future revenues, and our future profitability, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, words such as "anticipates," "estimates," "expects," "intends," "plans," "believes," and words and terms of similar substance used in connection with any discussion of future operating or financial performance identify such forward-looking statements. Those forward-looking statements are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including but not limited to the following: changes in regulatory environment, our success in implementing our sales, marketing and manufacturing plan, protection and validity of patents and other intellectual property rights, the impact of currency exchange rates, the effect of competition by other companies, the outcome of future litigation, the reimbursement policies for our product from healthcare payors, quarterly variations in operating results, the possibility of armed conflict or civil or military unrest in Israel and other risks disclosed in our filings with the U.S. Securities Exchange Commission.

19.Sept.'03