EXHIBIT 99.1

[LETTERHEAD]
SPECTRANETICS


              SPECTRANETICS COMPLETES SALE OF INDUSTRIAL SUBSIDIARY
                             FOR $15 MILLION IN CASH

            SPECTRANETICS TO FOCUS RESOURCES ON CORE MEDICAL BUSINESS


COLORADO  SPRINGS,  COLORADO  - June 18,  1999 - The  Spectranetics  Corporation
(NASDAQ: SPNC), developer, manufacturer and marketer of devices and technologies
for interventional cardiovascular therapy, announced the completion today of the
sale  of  the   Company's   wholly  owned   industrial   subsidiary,   Polymicro
Technologies,  Inc., to affiliates of Keystone Capital,  Inc. for $15 million in
cash.

Joseph A. Largey, Spectranetics' President and Chief Executive Officer, said the
transaction affords  Spectranetics the opportunity to intensify its focus on its
core medical device business,  which is driven by sales of single-use  catheters
for a growing  number of  cardiovascular  procedures  that involve the Company's
excimer laser technology.  He said that  Spectranetics  will use the proceeds of
the sale for general corporate purposes, including sales, marketing and clinical
initiatives for new products and applications.

Polymicro, located in Phoenix, Arizona, manufactures drawn silica glass products
for  industrial,  aerospace and medical uses with an emphasis on the  analytical
instrument  market.  Keystone  Capital,  Inc.  is a  private  equity  investment
advisory firm based near Chicago, Illinois.

Spectranetics   is  a  medical  device  company  engaged  in  the   development,
manufacturing,  marketing and distribution of its technology for  interventional
cardiovascular  therapy.  The Company's  CVX-300(R)  excimer laser system is the
only  excimer  laser  system  approved  by the FDA for  multiple  cardiovascular
procedures.  The technology has been designed for use in multiple cardiovascular
applications,  including  coronary  angioplasty and the removal of pacemaker and
ICD  leads.  The  Company is also  developing  additional  applications  for its
excimer  laser   technology  in  restenosed   stents  and  peripheral   vascular
applications.


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