For Immediate Release

VNUS MEDICAL TECHNOLOGIES ANNOUNCES INITIAL PUBLIC OFFERING OF COMMON STOCK

October 20, 2004

SAN JOSE, CA  VNUS Medical Technologies, Inc. (NASDAQ: VNUS), today announced the pricing of its initial public offering of 5,375,995 shares of its common stock at a price of $15.00 per share. VNUS sold 4,000,000 shares in the offering and selling stockholders of VNUS sold the remaining 1,375,995 shares. VNUS has granted to the underwriters a 30-day option to purchase an additional 806,399 shares of common stock at the initial public offering price to cover overallotments, if any. The shares will be listed on the NASDAQ Stock Market’s National Market under the symbol "VNUS."

The underwriters of the offering are Banc of America Securities LLC and Piper Jaffray & Co., acting as joint book-running managers, and William Blair & Company, L.L.C. acting as co-manager. The offering of the securities is made only by means of a prospectus, copies of which may be obtained from Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, New York, New York 10001, from Piper Jaffray & Co., 800 Nicollet Mall, Suite 800, Attn: Equity Capital Markets, Minneapolis, Minnesota 55402 or from William Blair & Company, L.L.C., 222 West Adams Street, Chicago, Illinois 60606.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 19, 2004. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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.

VNUS is a leading provider of medical devices for the minimally invasive treatment of venous reflux disease, a progressive condition caused by incompetent vein valves in the leg. VNUS sells the Closure system, which consists of a proprietary radio-frequency, or RF, generator and proprietary disposable endovenous catheters to close diseased veins through the application of temperature-controlled RF energy.

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