IMMUNOGEN'S UNDERWRITERS EXERCISE OPTION

ImmunoGen Inc. announced that the underwriters of its recentlyconcluded public offering have exercised their option to purchase262,500 shares of the company's stock (NASDAQ:IMGN) to coveroverallotments. Underwriters for the offering were Smith BarneyShearson Inc. and Montgomery Securities.

The purchase of the overallotted shares of ImmunoGen's commonstock at $7 per share brings the company's gross proceeds from theoffering to $14.1 million. After expenses, the company will net $12.9million from the financing.

The Cambridge, Mass., company's first financing since two 1991follow-on offerings commenced last November and closed last week.ImmunoGen's stock closed unchanged on Tuesday at $7.25 per share.

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