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Cepheid Schedules Teleconference and Webcast for First Quarter 2006 Results

Cepheid (Nasdaq: CPHD) announced today plans to release its financial results for the first quarter ended March 31, 2006 after the market closes on Thursday, May 4, 2006. In conjunction with the release, management will host a conference call that afternoon at 4:30pm (Eastern). The call will be simultaneously broadcast over the Internet.

Interested participants and investors may access the conference call by dialing 800-240-2134 (domestic) or 303-262-2053 (international). There will also be a live webcast of the call on the Investor Relations section of Cepheid's web site at http://www.cepheid.com under Investors: Events: Webcasts and Presentations. Web participants are encouraged to go to the web site at least 15 minutes prior to the start of the call to register, download and install any necessary audio software.

Cepheid's CEO John L. Bishop and CFO John R. Sluis will be present to discuss Cepheid's financial results, business highlights and outlook. After the live webcast, a replay will remain available in the Investors section of Cepheid's web site for twelve months. A replay of the teleconference will be available at 800-405-2236 (domestic) or 303-590-3000 (international) through May 11, 2006; the conference ID is 11059387.

About Cepheid

Cepheid (Nasdaq: CPHD), based in Sunnyvale, Calif., is a molecular diagnostics company that develops, manufactures, and markets fully-integrated systems for genetic analysis in the clinical, industrial and biothreat markets. The company's systems enable rapid, sophisticated genetic testing for organisms and genetic-based diseases by automating otherwise complex manual laboratory procedures. The company's easy-to-use systems integrate a number of complicated and time-intensive steps, including sample preparation, DNA amplification and detection, which enable the analysis of complex biological samples in its proprietary test cartridges. Through its strong molecular biology capabilities, the company is focusing on those applications where rapid molecular testing is particularly important, such as identifying infectious disease and cancer in the clinical market; food, agricultural, and environmental testing in the industrial market; and identifying bio-terrorism agents in the biothreat market. See http://www.cepheid.com for more information.

CONTACTS:

At the Company:

John L. Bishop John R. Sluis

CEO, Cepheid CFO, Cepheid

408-541-4191 408-541-4191

john.bishop@cepheid.com john.sluis@cepheid.com

At Financial Relations Board: At Schwartz Communications:

Tricia Ross Chris Stamm / Tom Bain

Investor/Analyst Information 781-684-0770

617-520-7064 cepheid@schwartz-pr.com

tross@financialrelationsboard.com

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