Given Imaging Announces Second Quarter 2003 Revenues of $9.7 Million

Revenues increase 35% over second quarter 2002

"Sales in the second quarter reflect the steady impact of growing insurance reimbursement and validation through clinical data," said Gavriel D. Meron, president and chief executive officer of Given Imaging. "Last week’s announcement regarding removal of the adjunctive tool qualifier means that physicians can now use the Given System as a first line test to diagnose small bowel disorders. Going forward, capsule endoscopy will play an even more important role in the gastroenterologist’s office."

Second Quarter Conference Call Details
Given Imaging plans to release its second quarter and six-month 2003 financial results on July 30, 2003. In conjunction with the release of earnings, the Company will host a conference call on July 31, 2003, at 10:00 am ET, 5:00 pm Israel time. To access the call, please dial 800-915-4836. International callers dial 973-317-5319. The call will also be broadcast live on Given Imaging's web site at www.givenimaging.com. A telephone replay of the call will be available for one week following the call by dialing 800-428-6051 and entering code 300865. International callers should dial 973-709-2089 and enter the code referenced above.

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