DURECT Corporation Invites You to Join Its Fourth Quarter And Year End 2002 Conference Call on the Web

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CUPERTINO, Calif., Jan. 15 /PRNewswire-FirstCall/ — In conjunction with
DURECT Corporation’s (Nasdaq: DRRX) fourth quarter and year end 2002 financial
results press release, you are invited to listen to its conference call that
will be broadcast live over the Internet on Tuesday, January 28, 2003 at
4:30 p.m. EST with Jim Brown, President and Chief Executive Officer,
Tom Schreck, Chief Financial Officer and Felix Theeuwes, Chairman and Chief
Scientific Officer.

    DURECT Corporation’s Fourth Quarter and Year End 2002 Earnings
    Conference Call
    Tuesday, January 28th, 2003, 4:30 p.m. EST
    www.www.durect.com and click “Investor Relations”
    Live over the Internet — Simply log on to the Web at the
    address listed above.
    Schond Greenway, DURECT Corporation, schond.greenway@durect.com

If you are unable to participate during the live webcast, the call will be
archived on DURECT’s website under Audio Archive in the “Investor Relations”

DURECT Corporation (www.www.durect.com) is pioneering the development and
commercialization of pharmaceutical systems for the treatment of chronic
debilitating diseases and enabling biotechnology-based pharmaceutical
products. DURECT’s goal is to deliver the right drug to the right site in the
right amount at the right time. In November 2001, DURECT completed a pilot
phase III program for the CHRONOGESIC(TM) (sufentanil) Pain Therapy System, a
3-month product for the treatment of chronic pain. DURECT owns three
proprietary drug delivery platform technologies, including the SABER(TM)
Delivery System (a patented and versatile depot injectable useful for protein
delivery), the MICRODUR(TM) Biodegradable Microparticulates (microspheres
injectable system) and the DURIN(TM) Biodegradable Implant (drug-loaded
implant system).

trademarks of DURECT Corporation.

The statements in this press release regarding DURECT’s products in
development and product development plans and projected financial results, are
forward-looking statements involving risks and uncertainties that can cause
actual results to differ materially from those in such forward-looking
statements. Potential risks and uncertainties include, but are not limited
to, DURECT’s ability to complete the design, development, and manufacturing
process development of its products, manufacture and commercialize its
products, obtain product and manufacturing approvals from regulatory agencies,
manage its growth and expenses, finance its activities and operations, as well
as marketplace acceptance of DURECT’s products. Further information regarding
these and other risks is included in DURECT’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2001 filed with the SEC on March 28, 2002,
DURECT’s Quarterly Report on Form 10-Q for the quarter ended September 30,
2002 filed with the SEC on November 14, 2002 and other periodic reports filed
with the SEC under the heading “Factors that may affect future results.”

/CONTACT: Schond L. Greenway, Senior Director, Investor Relations and
Strategic Planning of DURECT Corporation, +1-408-777-1417, or

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