[Rochester Medical Logo]

FOR RELEASE at 3:05 P.M., C.S.T
January 20, 2004

Rochester Medical Reports First Quarter Results

Stewartville, MN January 20, 2004

Rochester Medical Corporation (NASDAQ: ROCM) today announced operating results
for its first quarter ending December 31, 2003.

The Company reported sales of $3,348,000 for the quarter compared to $3,539,000 for the first quarter of last year. It also reported a net income of $64,000 or $.01 per share compared to $61,000 or $.01 per share for the first quarter of last year. The 5% overall decrease in revenues resulted from an $800,000 decrease in sales to a single private label customer offset by a 24% increase in sales to other customers. Earnings remained relatively constant, however, due to improved margins. The decrease in sales to the single private label customer was related to timing of international deliveries and is not indicative of a decreasing sales trend to that customer.

Commenting on the quarter, Company CEO and President Anthony J. Conway said, “Except for the timing of sales to the one private label customer we had a solid quarter. Other sales were up 24%, and costs were in line with expectations. We are seeing continued growth in our base products sales and increasing acceptance of our advanced antibacterial and hydrophilic intermittent catheters. U.S. and European introduction of our Hydrophilic Intermittent Catheter through our Private Label Partner in the U.S. and Europe is imminent. We continue exploring other strategic relationships which can help spur additional future growth. I am optimistic about the future and expect sales and earnings growth in the second quarter.”

The immediately preceding statement contains forward-looking statements that involve risks and uncertainties, including the uncertainty of gaining acceptance of the anti- infection catheters and hydrophilic catheters in the marketplace, the uncertainty of new product introductions, the uncertainty of gaining new strategic relationships, the uncertainty of timing of private label sales revenues (particularly international customers), FDA and other regulatory review and response times, as well as other risk factors listed from time to time in the Company’s SEC reports and filings, including, without limitation, the section entitled “Risk Factors” in the Company’s Annual report on Form 10-K (Part II, Item 6) for the year ended September 30, 2003.

Rochester Medical Corporation develops, manufactures, and markets latex-free disposable medical catheters and devices for urological and continence care applications. The Company markets under its own Rochester Medical brand and under private label arrangements.

For further information, please contact Anthony J. Conway, President and Chief Executive Officer of Rochester Medical Corporation at (507) 533-9600. For product information on the FemSoft Insert call 1-800-FEMSOFT. More information about Rochester Medical is available on its website at http://www.rocm.com

Rochester Medical Corporation
Press Release — F04 First Quarter

Condensed Balance Sheets

					December 31,		September 30,
					2003		2003
				Assets
	Current Assets
		Cash and equivalents			$	1,756,818	$	1,764,499
		Marketable securities				4,191,560		4,201,736
		Accounts receivable				2,329,643		2,454,310
		Inventories				3,757,935		3,542,619
		Prepaid expenses and other assets				435,285		272,245
			Total current assets			12,471,241		12,235,409
	Property and equipment					8,382,774		8,663,662
	Intangible assets					214,561		225,597
					$	21,068,576	$	21,124,668
Liabilities and Stockholders’ Equity
	Current liabilities:
		Accounts payable			$	888,631	$	507,580
		Accrued expenses				639,769		1,098,578
		Short-term debt				34,000		34,000
		Current Maturities of Capital Leases				40,750		40,263
		Deferred revenue				157,143		157,143
			Total current liabilities			1,760,293		1,837,564
	Long-term debt
		Long term debt				102,000		102,000
		Capital leases, less current portion				151,686		164,806
		Deferred revenue				839,286		878,571
			Total long term debt			1,092,972		1,145,377
	Stockholders’ equity					18,215,311		18,141,727
					$	21,068,576	$	21,124,668

Rochester Medical Corporation
Press Release — F04 First Quarter

Summary Statements of Operations

		Three months ended
		December 31,
		2003			2002
Sales		$	3,348,474		$	3,538,657
Cost of sales			2,153,705			2,339,839
Gross profit			1,194,769			1,198,818
	Gross profit %		36	%		34	%
Costs and expense:
	Marketing and selling		510,665			551,038
	Research and development		176,771			206,883
	General and administrative		456,581			422,364
Total operating expenses			1,144,017			1,180,285
Income from operations			50,752			18,533
Other income (expense):
	Interest income		24,130			45,089
	Interest expense		(11,294	)		(2,464	)
Other income, net			12,836			42,625
Net Income		$	63,588		$	61,158
Earnings per common share — Basic		$	0.01		$	0.01
Earnings per common share — Diluted		$	0.01		$	0.01
Shares in per share computation Basic			5,427,709			5,330,973
Shares in per share computation Diluted			5,725,215			5,525,923