Contact:          Columbia Laboratories, Inc.
                  James Apostolakis, Vice Chairman
                  (212) 588-1900
                  David Weinberg, Chief Financial Officer
                  (973) 994-3999

                  In-Site Communications, Inc.
                  Lisa Carlton-Wilson, Investor Relations/Media Relations
                  (212) 759-3929

FOR IMMEDIATE RELEASE

                    COLUMBIA REPORTS ON SETTLEMENT OF LAWSUIT
                     WITH ARES TRADING S.A. AND SERONO, INC.

             - Columbia to Market Second Brand of Progesterone Gel -

LIVINGSTON, N.J.--June 4, 2002--Columbia Laboratories, Inc (AMEX: COB) today
announced that its Bermuda subsidiary has reached a settlement with Ares Trading
S.A., and its affiliate, Serono, Inc., stemming from litigation that followed
the recall in April, 2001, of various batches of Crinone(R) (progesterone gel)
due to low viscosity. The companies have agreed to release all claims against
each other in Ares' suit against Columbia and Columbia's counterclaims against
Ares and Serono. Under the terms of the settlement, Columbia will have rights to
market a second brand of its 8% and 4% progesterone gel products under the trade
name "Prochieve(TM)" to a defined target audience of obstetricians,
gynecologists and primary care physicians in the United States.

Columbia will immediately begin shipping additional Crinone product to Ares for
the U.S. and other worldwide markets. Columbia had previously shipped three
batches of Crinone 8% that were used to support the March 8, 2002 re-launch by
Serono in the U.S. This product was shipped at no charge to replace recalled
product. As part of the settlement, Columbia has given Ares a note for $3.96
million to be paid over an eighteen-month period to cover additional recalled
product and out of pocket costs from the recall. Other terms of the settlement
agreement are confidential.

"We are pleased that we have been able to fully resolve this dispute and are
excited about the opportunity to establish our U.S. commercial operations
through the launch of Prochieve(TM) 8% and 4% under a Columbia label," commented
Fred Wilkinson, Columbia's president and chief executive officer. "We intend to
promote the advantages of 8% and 4% progesterone gel products to obstetricians
and gynecologists who are involved in first line treatment of infertility and
hormone replacement while Serono will continue to cover those fertility
specialists who also prescribe injectable gonadotropins. Moreover, the
initiation of commercial operations to promote Prochieve(TM), as well as
RepHresh Vaginal Gel(TM) and our Advantage-S(R) spermicidal contraceptive, will
not only produce revenues in 2002 but will also prepare us for the anticipated
approval and launch of our testosterone buccal tablet in 2003."


Columbia Laboratories, Inc. is a U.S.-based international pharmaceutical company
dedicated to research and development of women's health care and endocrinology
products, including those intended to treat infertility, dysmenorrhea,
endometriosis and hormonal deficiencies. Columbia is also developing hormonal
products for men and a buccal delivery system for peptides. Columbia's products
primarily utilize the company's patented Bioadhesive Delivery System (BDS)
technology.

This press release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Those statements include statements regarding the intent, belief or current
expectations of the company and its management team. Investors are cautioned
that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements. Such
risks and uncertainties include, among other things, the successful marketing
reintroduction of Crinone, the successful marketing of Prochieve(TM), RepHresh
Vaginal Gel(TM), and Advantage-S(R), the timely and successful development of
products, timely and successful completion of clinical studies, success in
obtaining FDA acceptance and approval of a testosterone NDA, competitive
economic and regulatory factors in the pharmaceutical and health care industry,
general economic conditions and other risks and uncertainties that may be
detailed, from time-to-time, in Columbia's reports filed with the Securities and
Exchange Commission.

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