THE WOODLANDS, Texas, May 2 /PRNewswire/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG) will announce its first quarter 2001 financial results before the market opens on May 8th.

The Company will sponsor a conference call on May 8th which will be broadcast live over the Internet, beginning at 8:30 a.m. EDT. Arthur T. Sands, M.D., Ph.D., President and Chief Executive Officer, and Julia P. Gregory, Executive Vice President and Chief Financial Officer, will review Lexicon's operating highlights and financial results for the first quarter ended March 31, 2001 and will discuss forward looking information for second quarter 2001.

The live webcast can be accessed by visiting Lexicon's website at www.lexicon-genetics.com or www.streetevents.com. Following the webcast, an archived version of the call will be available on Lexicon's website through May 11th. Investors may listen to the call by dialing 800/210-9006 (domestic), pass code: 570138; or 719/457-2621 (international), pass code: 570138. A replay of the call will be available until 6 p.m. EDT on May 11th. The number for domestic callers is 888/203-1112 pass code 570138 and international callers should dial 719/457-0820 pass code 570138.

Note: Minimum requirements to listen to the broadcast are RealPlayer software and at least a 14.4Kbps connection to the Internet. RealPlayer software is a free download from www.real.com/products/player/index.html.

Lexicon Genetics Incorporated is a drug discovery company of the post- genome era, using gene knockout technology to define the functions of genes for the discovery of pharmaceutical products. Lexicon is using this technology to fuel drug discovery programs in cancer, cardiovascular disease, immune disorders, neurological disease, diabetes and obesity. Lexicon has established drug discovery alliances and functional genomics collaborations with leading pharmaceutical and biotechnology companies, research institutes and academic institutions throughout the world to commercialize its technology and further develop its discoveries. Additional information about the Company is available through Lexicon's corporate website, www.lexicon-genetics.com.

This press release contains "forward-looking statements," including statements about Lexicon's growth and future operating results, discovery and development of products, strategic alliances, and intellectual property, as well as other matters that are not historical facts or information. These forward-looking statements are based on management's current assumptions and expectations and involve risks, uncertainties and other important factors, specifically including those relating to Lexicon's ability to achieve its operational objectives, obtain patent protection for its discoveries and establish strategic alliances, that may cause Lexicon's actual results to be materially different from any future results expressed or implied by such forward-looking statements. Information identifying such important factors is contained under "Factors Affecting Forward-Looking Statements" and "Business - Risk Factors" in Lexicon's annual report on Form 10-K for the year ended December 31, 2000, as filed with the Securities and Exchange Commission. Lexicon undertakes no obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.