BOSTON MA – May 16, 2006 – PerkinElmer, Inc. (NYSE: PKI), a global leader in Health Sciences and Photonics, announced today a long-term supplier and co-marketing agreement that combines PerkinElmer’s versatile AlphaScreen® assay technology with TGR BioSciences’ SureFire™ ERK (Extracellular signal-Related Kinase) assay kits. The collaboration combines two highly advanced technologies that, together, enable researchers to easily screen GPCR (G-Protein Coupled Receptor) activation in whole cells, through homogeneous non-radioactive measurement of phospho-ERK1/2 in whole cell lysates.

The new AlphaScreen SureFire ERK assay can be used with any cell line, including primary cells, and offers a novel method for primary and secondary screening of the toughest GPCR targets, including those not optimally coupled through the calcium or cAMP pathways. As a result of its extremely high sensitivity, this new assay can be used with cells over-expressing cloned targets or with cells expressing physiologically relevant endogenous levels of receptor target. And unlike other proximity-based technologies, AlphaScreen beads can be up to 200nm apart, allowing for the detection of very simple to very complex biological interactions and substrates of almost any size.

“Combining our highly sensitive AlphaScreen technology with TGR’s SureFire cellular ERK assay takes GPCR screening to a previously unrealized level, particularly with high-interest, but traditionally challenging targets such as Gαq- and Gαi-coupled GPCRs,” said Ken King, vice president and general manager, Molecular Medicine, for PerkinElmer’s Life and Analytical Sciences division. “The addition of the AlphaScreen SureFire ERK assay expands PerkinElmer’s robust offering in the field of cell-based functional GPCR screening and furthers our commitment to build the most innovative tools for today’s high throughput screening (HTS) labs.”

Because it provides an excellent tool for assaying the very important GPCR target class without the artifacts normally associated with fluorescent detection of calcium or with luciferase gene reporter-based assays, the AlphaScreen SureFire ERK assay is ideally suited for secondary screening applications. The AlphaScreen SureFire ERK assay is just one of the many useful applications built on PerkinElmer’s HTS-proven AlphaScreen technology, which is easily scalable to 384- and 1536-well microplate formats.

“This important collaboration between the two companies will focus on streamlining the availability and technical support of these kits to customers around the world for both basic research and drug discovery,” states Leanna Read, TGR BioSciences managing director.

Factors Affecting Future Performance
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities. Words such as "believes," "intends," "anticipates," "plans," "expects," “projects,” “forecasts,” "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management’s current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) economic and geopolitical forces that may limit any continued or expected economic or end market strengthening or recoveries; (2) risks related to our failure to introduce new products in a timely manner; (3) our ability to comply with financial covenants contained in our credit agreements and our debt instruments; (4) a delay in resolution of the Company’s tax audits and an adverse determination with respect to the Company’s tax audits by the Internal Revenue Service or other taxing authorities; (5) cyclical downturns continuing to affect several of the industries into which we sell our products; (6) our ability to adjust our operations to address unexpected changes; (7) our ability to execute acquisitions and license technologies and successfully integrate acquired businesses and licensed technologies into our existing business; (8) the loss of any of our licenses that may require us to stop selling products or lose competitive advantage; (9) competition; (10) regulatory compliance; (11) regulatory changes; (12) our failure to obtain and enforce intellectual property protection; (13) our defense of third party claims of patent infringement and our ability to realize the full value of our intangible assets; (14) other factors which we describe under the caption "Forward-Looking Information and Factors Affecting Future Performance" in our most recent annual report on Form 10-K and in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission.
We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Other Information
Health Sciences end markets include genetic screening, environmental, service, biopharma, and medical imaging. Photonics markets include sensors and specialty lighting.

About TGR BioSciences
TGR BioSciences Pty Ltd is a private biotechnology company based in Adelaide, South Australia. The company has developed leading-edge cell-based screening technology that is ideally suited to high throughput discovery. TGR markets its proprietary SureFire high throughput assay kit technology to biotechnology and pharmaceutical companies, and by offering bioactive discovery collaborations worldwide. Additional information is available through www.tgr-biosciences.com.au