DURECT Corporation Presenting at the JPMorgan H&Q 21st Annual Healthcare Conference

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CUPERTINO, Calif., Jan. 2 /PRNewswire-FirstCall/ —
DURECT Corporation (Nasdaq: DRRX) announced today that it will present at the
JPMorgan H&Q 21st Annual Healthcare Conference. The conference is taking
place January 6-9th at The Westin St. Francis Hotel in San Francisco.
Dr. James E. Brown, President and Chief Executive Officer will be presenting
at the conference on Thursday, January 9th at 12:30 p.m. Pacific Time.

There will be a live webcast of the presentation from the Conference. The
webcast will be available on DURECT’s website at www.www.durect.com under the
Calendar of Events section of “Investor Relations.” The presentation will
also be available for replay on DURECT’s website for a period of 30 days after
the conference.

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).

NOTE:
CHRONOGESIC(TM) is a trademark of DURECT Corporation. SABER(TM),
MICRODUR(TM) and DURIN(TM) are trademarks of Southern BioSystems, Inc., a
wholly owned subsidiary of DURECT Corporation. Other trademarks referred to
belong to their respective owners.

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.”

CHRONOGESIC is under development by DURECT and has not been submitted or
approved for commercialization by the US Food and Drug Administration or other
health authorities.
SOURCE DURECT Corporation

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

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