< 2004 News Listings Tercica, Inc. Announces Initial Public Offering of Common Stock SOUTH SAN FRANCISCO, CA March 16, 2004 Tercica, Inc. (Nasdaq: TRCA) announced today its initial public offering of 5,500,000 shares of its common stock at a price of $9 per share. All of the shares are being offered by Tercica. The shares will trade on the Nasdaq National Market under the symbol "TRCA."  The sole book running manager of the offering was Lehman Brothers. SG Cowen served as joint lead manager. Harris Nesbitt Gerard and Robert W. Baird & Co. were co-managers. Tercica has granted the underwriters a 30-day option to purchase up to an additional 825,000 shares of its common stock to cover over-allotments, if any. Copies of the final prospectus relating to the offering may be obtained from Lehman Brothers' c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717; 631-254-7106.  About Tercica Tercica is a biopharmaceutical company focused on the development and commercialization of recombinant human insulin-like growth factor-1 for the treatment of short stature, diabetes and other endocrine system disorders.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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