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The Quigley Corporation Second Quarter Revenue Up 25%

DOYLESTOWN, PA. July 25, 2002 - The Quigley Corporation (Nasdaq: QGLY) today announced revenue of $5.7 million for the second quarter ended June 30, 2002, a 25% increase over the $4.6 million in revenue reported for the second quarter of 2001. For the first six months of 2002, revenue was $11.4 million, a 23% increase over the $9.3 million for the first six months of 2001.

The increase in revenues for the second quarter and six months ended June 30, 2002 reflects improved performance from the Company's diversification strategy. In the second half of 2000, the Company added Health and Wellness and Sun-Care and Skincare business segments to augment its core business of cold remedy products, from which the majority of revenue is generally produced during the second half of the year. The increase in revenue in 2002 was affected by a reduction of $1.1 million in licensing fees from settled litigation that occurred during the second quarter of 2001.

Net loss for the second quarter 2002 was $1.5 million, or ($0.13) per share, compared to a net loss of $680,000, or ($0.06) per share for the same period a year ago. Net loss for the first six months ended June 30, 2002 was $3.2 million, or ($0.29) per share, compared to a net loss of $1.1 million, or ($0.10) per share for the first six months of 2001.

Net loss in 2002 increased during the second quarter or during the first six months from additional research and development costs associated with Quigley Pharma and other clinical studies; fees associated with consulting service; and net licensing fees from settled litigation that occurred during the second quarter of 2001. These additional losses were mitigated by profits reflected in 2002 from the Health and Wellness business segment.

No tax benefits to reduce losses are provided for the second quarter and the first six months in both 2002 and 2001, since the Company is in a net operating loss carry-forward position, which began in the fourth quarter of 1999, from the cumulative effect of deductions attributed to options, warrants and unrestricted stock from previous years' taxable income.

Guy J. Quigley, Chairman, President and Chief Executive Officer stated, "Our second quarter is marked by increased revenues and a potential pipeline of new drugs to treat Diabetic Neuropathy, Radiation Dermatitis and Sialorrhea, conditions associated with Lou Gerigh's Disease (ALS), Cerebral Palsy, Parkinson's Disease, and Muscular Dystrophy. The increase in research and development costs associated with our Quigley Pharma subsidiary represents an investment in our Company's future growth.

He concluded, "We are working to get promising potential new drugs to market as soon as possible through our ethical pharmaceutical subsidiary, Quigley Pharma. Currently, we are undergoing a Phase II clinical trial in France for a patent-pending formulation for the relief of diabetic neuropathy that afflicts 50% - 70% of approximately 17 million people in the United States with diabetes. We will also be conducting a Phase II clinical trial for a treatment for Sialorrhea, or excess secretions of the salivary glands, which is suffered by approximately 3 million people."

The Quigley Corporation (Nasdaq: QGLY) is a leading developer and marketer of diversified health products including the Cold-Eeze® family of patented zinc gluconate glycine (ZIGG™) lozenges, gums and sugar free tablets. Cold- Eeze is the only (ZIGG™) lozenge proven in two double-blind studies to reduce the duration of the common cold from 7.6 to 4.4 days or by 42%. In addition to Over-The-Counter (OTC) products, the Company has formed Quigley Pharma Inc. (http://www.QuigleyPharma.com), a wholly owned ethical pharmaceutical subsidiary, to introduce a line of patented prescription drugs. The Quigley Corporation's customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies.

Certain statements in this press release are ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risk, uncertainties and other factors that may cause the Company's actual performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.

Consolidated Statements of Operations
The following represents condensed financial data (in thousands, except diluted loss per share and diluted weighted average common shares) for the three-months and six-months ended June 30, 2002 and 2001:

Consolidated Balance Sheets
The following represents condensed financial data (in thousands) at June 30, 2002 and December 31, 2001:

	2002 ($)	2001 ($)
Cash & cash equivalents	12,839	9,741
Accounts receivable, net	1,784	4,425
Inventory	6,620	6,508
Total current assets	22,094	22,181
Total assets	24,744	24,756
Total current liabilities	3,017	3,556
Total stockholders' equity	21,726	21,200