Exhibit 99.1

CALYPTE RECEIVES $10 MILLION INVESTMENT
Tuesday September 2, 10:17 am ET

COMPANY RAISES  $10,000,000 VIA THE ISSUANCE OF 20,000,000  RESTRICTED SHARES OF
COMMON  STOCK FROM  TREASURY AT A PRICE OF $.50 PER SHARE WITH A ONE YEAR LOCKUP
ALAMEDA,   Calif.,   Sept.  2   /PRNewswire-FirstCall/   --  Calypte  Biomedical
Corporation (OTC Bulletin Board: CYPT - NEWS), the developer and marketer of the
only two FDA approved HIV-1 antibody tests that can be used on urine samples, as
well as an FDA approved serum HIV-1  antibody  Western blot  supplemental  test,
announced  a $10  million  equity  financing  agreement  with Marr Group via the
issuance of  20,000,000  restricted  shares of common  stock from  treasury at a
price of $.50 per share.

Commenting on the agreement, Tony Cataldo,  Calypte's Executive Chairman stated,
"We are delighted by the continued commitment to Calypte by Marr Group. This $10
million  agreement  brings a total of $12.5  million  invested  by Marr Group in
Calypte over the past 30 days.  With Marr's latest  investment of $10 million we
are confident  that the company is  sufficiently  funded to execute our business
plan."


Marat Safin,  Principal of Marr Technologies  stated,  "We feel that the current
market is extremely  strong for the products that Calypte has approved and ready
to deliver.  We are confident in the  distribution  network that is being put in
place and  impressed  with the  management  team that will carryout the business
plan.  And finally our latest  investment  of $10 million  will provide the cash
needed to drive all these elements and move this company forward."


About Marr Technologies Limited


Marr  Technologies  Limited  is a member  of the Marr  Group of  companies  (the
"Group").  The Group is a private  group  controlled  by the  Safin  family  and
administered from London. Marat Safin, a London School of Economics graduate, is
the  President  of the  Group.  The  Group  has a large  and  diverse  number of
investments  and projects  globally,  principally  in Europe,  the Far East, the
Middle East and the CIS, with substantial investments in telecoms and technology
projects  including its newly acquired "Green Plus Additive" which when added to
fuel  eliminates all traces of sulfur and increases  power while cleaning up the
environment.  The Group has made  significant  progress in placing  products and
services of its group  companies  in the Chinese  market and  believes  that its
experience in China will greatly benefit the joint venture with Calypte.


About Calypte Biomedical:


Calypte Biomedical Corporation headquartered in Alameda, California, is a public
healthcare  company  dedicated  to  the  development  and  commercialization  of
urine-based  diagnostic products and services for Human  Immunodeficiency  Virus
Type 1 (HIV-1),  sexually  transmitted  diseases and other infectious  diseases.
Calypte's tests include the screening EIA and  supplemental  Western Blot tests,
the  only  two  FDA-approved  HIV-1  antibody  tests  that  can be used on urine
samples.  The company believes that accurate,  non-invasive  urine-based testing
methods for HIV and other infectious  diseases may make important  contributions
to public  health by helping to foster an  environment  in which  testing may be
done  safely,  economically,  and  painlessly.  Calypte  markets its products in
countries worldwide through  international  distributors and strategic partners.
Current product labeling  including  specific product  performance claims can be
found at WWW.CALYPTE.COM.


Statements   in  this  press   release  that  are  not   historical   facts  are
forward-looking  statements,  including  statements  regarding  announcements of
financial  results and  presentations  by the Company.  Such statements  reflect
management's  current views, are based on certain  assumptions and involve risks





and uncertainties.  Actual results, events, or performance may differ materially
from the above forward-looking  statements due to a number of important factors,
and will be dependent upon a variety of factors,  including, but not limited to,
our ability to obtain  additional  financing  that will allow us to continue our
current and future  operations  and  whether  demand for our product and testing
service in domestic  and  international  markets  will  continue to expand.  The
Company  undertakes  no  obligation  to publicly  update  these  forward-looking
statements to reflect events or  circumstances  that occur after the date hereof
or to reflect  any change in the  Company's  expectations  with  regard to these
forward-looking  statements or the occurrence of unanticipated  events.  Factors
that may impact the Company's  success are more fully disclosed in the Company's
most recent  public  filings with the U.S.  Securities  and Exchange  Commission
("SEC"),  including its annual  report on Form 10-K for the year ended  December
31, 2002 and its subsequent filings with the SEC.

     Investor Relations Contact:
     Tim Clemensen
     212-843-9337
     email: TCLEMENSEN@RUBENSTEINIR.COM