Biopure Corporation
11 Hurley Street
Cambridge, MA 02141
Tel: (617) 234-6500
Fax: (617) 234-6505
Internet: www.biopure.com
E-mail: IR@biopure.com

Stock Listing
Nasdaq: BPUR

Annual Meeting
April 3, 2002

Transfer Agent and Registrar
American Stock Transfer & Trust Co.
40 Wall Street - 46th Floor
New York, NY 10005
212-936-5100

10-K
The company’s annual report on form 10-K for the fiscal year ended October 31, 2001 is included herein. The exhibits accompanying the report are filed with the U.S. Securities and Exchange Commission and can be accessed in the EDGAR database at the SEC Web site, www.sec.gov, or through the Investor section of Biopure's Web site, www.biopure.com. The Company will provide these items to stockholders upon request. Requests for any such exhibits should be made to:

Biopure Corporation
Corporate Communications
11 Hurley Street
Cambridge, MA 02141

CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION

This report contains forward-looking statements concerning, among other things, possible applications for marketing approval and other regulatory matters, clinical trials, plans for the development of Hemopure and business strategies. These forward-looking statements are identified by the use of such terms as "intends," "expects," "plans," "estimates," "anticipates," "should" and "believes."

These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those predicted by the forward- looking statements because of various factors and possible events. Company risks include lack of FDA or any other regulatory approval for our human product in a major market, the difficulty and uncertainty in obtaining regulatory approvals, uncertainty about future physician and market acceptance of our product, our limited manufacturing capacity and capital resources and our lack of commercial experience as a pharmaceutical company. In addition, we are subject to industry risks such as: our industry is highly regulated, keenly competitive and subject to uncertainty of pricing because of controls on health care spending and uncertainty of third-party reimbursement. Risk factors are set forth in Exhibit 99 to the Form 10-K report.