Langer, Inc. Completes Sale of 4% Convertible Subordinated Notes

NEW YORK, Nov. 1 -- Langer, Inc. (Nasdaq: GAIT) announced today that it had sold
$14,598,000 principal amount of its 4% convertible subordinated notes, due
August 31, 2006, in a private placement. The notes are convertible into shares
of Langer's common stock at a conversion price of $6 per share, and are
subordinated to senior indebtedness of Langer. Langer received net proceeds of
$13.7 million from the offering. After the offering, the Company's cash, which
includes pre-offering balance sheet cash, totals approximately $15.8 million. Wm
Smith Securities, Incorporated acted as placement agent in the transaction.

Andrew H. Meyers, Chief Executive Officer and President of Langer said: "The
proceeds of the sale will provide Langer with the capital base to pursue growth
through a targeted acquisition strategy and its internal growth initiatives. We
are currently in the process of expanding our distribution capabilities through
the establishment of a network of regional sales representatives and
telemarketing programs targeting our customer base. Our acquisition activity is
well underway and we have identified a number of possible candidates in the
United States, Canada and Europe that meet our criteria.

Langer,  Inc.  is a  leading  global  provider  of high  quality  orthotics  and
gait-related  products  sold to  practitioners  treating  muscular  and skeletal
disorders.

Statements in this press release may be forward-looking. Actual events will be
dependent upon factors and risks including, but not limited to, the Company's
ability to: manufacture and market its core products, develop new products and
services; respond to new laws and regulations; implement its strategy of growth
by acquisition; as well as the Company's ability to manage uncertainties and
risk factors, including those described from time to time in the Company's
filings with the Securities and Exchange Commission, specifically, the Company's
2001 Form 10K and its most recent Form 10Qs. The Company undertakes no
obligation to make any revisions to the forward-looking statements contained in
this release or to update them to reflect events or circumstances occurring
after the date of this release.