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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">As filed with the Securities and
Exchange Commission on June 28, 2002</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Registration No. 333-</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

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<h1 style="border:none;margin:0in 0in .0001pt;padding:0in;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

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<h1 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:16.0pt;">SECURITIES AND EXCHANGE COMMISSION</font></b></h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>


<h1 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">

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<h1 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">FORM S-8</font></b></h1>

<h1 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">REGISTRATION STATEMENT</font></b></h1>

<h1 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">UNDER</font></b></h1>

<h1 style="font-family:Times;font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">THE SECURITIES </font>ACT OF
1933</b></h1>


<h1 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times" style="font-size:10.0pt;">

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<h3 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:16.0pt;">CYGNUS, INC.</font></b></h3>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.2%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">94-2978092</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.2%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer
  Identification No.)</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of incorporation
  or organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.2%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.9%;">
  <p align="center" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:center;">&nbsp;</p>
  </td>
 </tr>
</table>

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<h4 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h4>

<h4 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">400
Penobscot Drive, Redwood City, CA&#160; 94063</font></b></h4>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices) (Zip Code)</font></p>


<h4 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="center">

</font></b></h4>


<h4 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">CYGNUS,
INC. AMENDED 1991 EMPLOYEE STOCK PURCHASE PLAN</font></b></h4>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CYGNUS, INC. 1999 STOCK INCENTIVE
PLAN</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Full title of the Plans)</font></p>


<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="center">

</font></div>


<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BARBARA
G. McCLUNG, ESQ.</font></b></p>

<h4 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior
Vice President, General Counsel and Secretary</font></b></h4>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CYGNUS, INC.</font></b></p>

<h4 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">400
Penobscot Drive, Redwood City, CA&#160; 94063</font></b></h4>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name and address of agent for service)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(650)
369-4300</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Telephone number, including area code, of agent for
service)</font></p>


<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="center">

</font></div>


<h4 style="font-size:10.0pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman" style="letter-spacing:-.1pt;">CALCULATION OF REGISTRATION FEE</font></h4>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="font-family:AvantGarde;">
  <td width="25%" valign="bottom" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:25.34%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Title of Securities</font></b></p>
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&#160;<font style="letter-spacing:-.1pt;">to be</font></font></b></p>
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&#160;<font style="letter-spacing:-.1pt;">Registered</font></font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:15.58%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Amount</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">  <font style="letter-spacing:-.1pt;">to be Registered <sup>(1)</sup></font></font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="15%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:15.6%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Proposed
  Maximum Offering Price</font></b><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">  <font style="letter-spacing:-.1pt;">Per Share</font></font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="15%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:15.62%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Proposed
  Maximum Aggregate Offering Price</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="15%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:15.6%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Amount
  of Registration Fee</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.34%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#cceeff" style="background:#CCEEFF;border:none;padding:0in .7pt 0in .7pt;width:25.34%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Common Stock, $0.001 par value (Amended 1991
  Employee Stock Purchase Plan)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="15%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;border:none;padding:0in .7pt 0in .7pt;width:15.58%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">300,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;border:none;padding:0in .7pt 0in .7pt;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;border:none;border-top:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:14.3%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">1.72 (2</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">)</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;border:none;padding:0in .7pt 0in .7pt;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;border:none;border-top:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:14.32%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">516,000 (2</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">)</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;border:none;padding:0in .7pt 0in .7pt;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;border:none;border-top:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:14.3%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">47.47</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" style="padding:0in .7pt 0in .7pt;width:25.34%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Common Stock, $0.001 par value (1999 Stock
  Incentive Plan)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="15%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:15.58%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">1,500,000</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:14.3%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">2.02 (3</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:14.32%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">3,030,000 (3</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">)</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:14.3%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">278.76</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="25%" valign="top" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:25.34%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">TOTAL:</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="15%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.58%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">1,800,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="15%" colspan="2" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:15.6%;">
  <p align="right" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:right;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.32%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">3,546,000</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.48%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:1.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:14.32%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">326.23</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#cceeff" style="background:#CCEEFF;padding:0in .7pt 0in .7pt;width:2.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="left" style="letter-spacing:-.1pt;margin:0in 0in 3.0pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


<div align="left" style="letter-spacing:-.1pt;margin:0in 0in 3.0pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">

<hr size="1" width="25%" noshade color="black" align="left">

</font></div>


<p align="left" style="font-size:10.0pt;letter-spacing:-.1pt;margin:0in 0in 3.0pt .5in;text-align:left;text-indent:-.5in;"><font face="Times New Roman">(1)</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">This
Registration Statement shall also cover any additional shares of Common Stock
which become issuable under the Cygnus, Inc. Amended 1991 Employee Stock
Purchase Plan or the 1999 Stock Incentive Plan by reason of any stock dividend,
stock split, recapitalization or other similar transaction effected without the
Registrant&#146;s receipt of consideration which results in an increase in the
number of the Registrant&#146;s outstanding shares of Common Stock.</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.1pt;margin:0in 0in 3.0pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Calculated
solely for purposes of this offering under Rule 457(h) of the Securities Act of
1933, as amended, on the basis of the average of the high and low prices per
share of Common Stock of Cygnus, Inc. on June 26, 2002, as reported by the
Nasdaq National Market System, multiplied by 85%, which is the percentage of
the trading purchase price applicable to purchases under the referenced Plan.</font></p>

<p align="left" style="font-size:10.0pt;letter-spacing:-.1pt;margin:0in 0in 3.0pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman">Calculated
solely for purposes of this offering under Rule 457(h) of the Securities Act of
1933, as amended, on the basis of the average of the high and low prices per
share of Common Stock of Cygnus, Inc. on June 26, 2002, as reported by the
Nasdaq National Market System.</font></p>

<div style="border:none;border-bottom:double windowtext 9.0pt;padding:0in 0in 0in 0in;">

<p align="left" style="border:none;letter-spacing:-.1pt;margin:0in 0in 3.0pt .5in;padding:0in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>


<div style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="3" face="Times New Roman" style="font-size:12.0pt;">
<!-- ZEQ.=1,SEQ=1,EFW="2083412",CP="CYGNUS, INC",DN="1",CHK=211567,FOLIO='',FILE="DISK020:[02PAL7.02PAL1887.EDGAR]S-8_1887.CHC",USER="DPHAMA",CD='Jun 28 12:09 2002' -->
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</font>

<p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

<h4 style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">PART
II</font></b></h4>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h4 style="margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Information
Required in the Registration Statement</font></b></h4>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Item 3.&#160; <u>Incorporation of
Certain Documents by Reference</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The following documents filed by the Company under the
Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), with the
Securities and Exchange Commission (the &#147;Commission&#148;) are incorporated herein
by reference:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 71.8pt;text-indent:-71.8pt;"><font size="1" face="Times New Roman" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;letter-spacing:-.1pt;">a.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">The Registrant&#146;s latest annual report on Form 10-K for
the year ended December 31, 2001 filed March 27, 2002, as amended by Form
10-K/A filed April 3, 2002, pursuant to Section 13(a) or 15(d) of the Exchange
Act;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 71.8pt;text-indent:-71.8pt;"><font size="1" face="Times New Roman" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;letter-spacing:-.1pt;">b.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">All reports filed by the Registrant pursuant to
Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year
covered by the Registrant&#146;s latest annual report; including but not limited to
the Form 10-Q for the period ending March 31, 2002 filed May 1, 2002 and Form
8-Ks filed January 22, 2002, February 14, 2002, February 19, 2002, February 28,
2002, April 4, 2002, April 17, 2002, April 29, 2002 and May 17, 2002;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 71.8pt;text-indent:-71.8pt;"><font size="1" face="Times New Roman" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;letter-spacing:-.1pt;">c.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Registrant&#146;s Registration
Statement on Form 8-A filed with the Commission on December 21, 1990, which
provides a description of the Registrant&#146;s Common Stock, including any
amendments or reports filed for the purpose of updating such description; and</font></p>

<p style="margin:0in 0in .0001pt 71.8pt;text-indent:-71.8pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 71.8pt;text-indent:-71.8pt;"><font size="1" face="Times New Roman" style="font-size:3.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;letter-spacing:-.1pt;">d.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Registrant&#146;s Registration
Statements on Form 8-A filed with the Commission on October 29, 1993, and
December 14, 1998, which provide descriptions of the Registrant&#146;s Preferred
Share Purchase Rights, including any amendments or reports filed for the purpose
of updating such description.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">All documents subsequently filed by the Registrant
pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Exchange Act, prior to
the filing of a post-effective amendment which indicates that all securities
offered have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration
Statement and to be a part hereof from the date of filing of such documents.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in 12.0pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any statement
contained in a document incorporated by reference herein shall be deemed to be
modified or superseded for purposes of this Registration Statement to the
extent that a statement contained in a subsequently filed document which is
also incorporated by reference herein modifies or supersedes such statement.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>


<div style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="3" face="Times New Roman" style="font-size:12.0pt;">
<!-- ZEQ.=1,SEQ=2,EFW="2083412",CP="CYGNUS, INC",DN="1",CHK=823348,FOLIO='2',FILE="DISK020:[02PAL7.02PAL1887.EDGAR]S-8_1887.CHC",USER="DPHAMA",CD='Jun 28 12:09 2002' -->
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</font>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Item 4.&#160; <u>Description of
Securities</u></font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Not applicable.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 5.&#160; <u>Interests of Named Experts and Counsel</u></font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Barbara&nbsp;G.
McClung, Senior Vice President, General Counsel and Secretary of the
Registrant, acted as counsel for the Registrant in connection with the
Registration Statement and opined on the validity of the shares to be issued
and sold by the Registrant pursuant hereto.&#160;
As of June 27, 2002, Ms.&nbsp;McClung beneficially owned 158,183 shares
of the Registrant&#146;s common stock, including employee stock options to purchase
143,183 shares, exercisable within 60 days.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Item 6.&#160; <u>Indemnification of
Directors and Officers</u></font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Section 145 of the General Corporation Law of the
State of Delaware (the &#147;Delaware Law&#148;) authorizes a Delaware corporation to
indemnify officers, directors, employees and agents of the corporation, in
connection with actual or threatened actions, suits or proceedings provided
that such officer, director, employee or agent acted in good faith and in a
manner such officer reasonably believed to be in or not opposed to the
corporation&#146;s best interests, and, for criminal proceedings, had no reasonable
cause to believe his or her conduct was unlawful.&#160; This authority is sufficiently broad to permit indemnification
under certain circumstances for liabilities (including reimbursement for
expenses incurred) arising under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Registrant&#146;s Bylaws require the Registrant to
indemnify each of its officers and directors to the fullest extent permitted by
the Delaware Law against certain expenses, judgments, fines, settlements, and
other amounts actually and reasonably incurred in connection with any
proceeding arising by reason of the fact that such person is or was an agent of
the Registrant.&#160; In addition, the Bylaws
grant the Registrant the power to indemnify the Registrant&#146;s employees and
agents under certain circumstances to the fullest extent permitted by Delaware
Law against certain expenses, judgments, fines, settlements and other amounts
actually and reasonably incurred in connection with any proceeding arising by
reason of the fact that such person is or was an agent of the Registrant.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Article IX of
Registrant&#146;s Certificate of Incorporation provides that, to the fullest extent
permitted by Delaware Law, the Registrant&#146;s directors shall not be personally
liable to the Registrant or its stockholders for monetary damages for breach of
fiduciary duty as a director.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Registrant
maintains directors&#146; and officers&#146; liability insurance policies insuring its
directors and officers against certain liabilities and expenses incurred by
them in their capacities as such, and insuring the Registrant under certain
circumstances, in the event that indemnification payments are made by the
Registrant to such directors and officers.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>


<div style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="3" face="Times New Roman" style="font-size:12.0pt;">
<!-- ZEQ.=1,SEQ=3,EFW="2083412",CP="CYGNUS, INC",DN="1",CHK=1018872,FOLIO='3',FILE="DISK020:[02PAL7.02PAL1887.EDGAR]S-8_1887.CHC",USER="DPHAMA",CD='Jun 28 12:09 2002' -->
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</font>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Registrant has
entered into indemnification agreements with the Registrant&#146;s officers and
directors, pursuant to which the Registrant is obligated to indemnify each
officer and director against certain claims and expenses for which the officer
or director might be held liable.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Item 7.&#160; <u>Exemption from
Registration Claimed</u></font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Not applicable.</font></p>

<p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Item 8.&#160; <u>Exhibits</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="font-family:'Footlight MT Light';">
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <h6 style="letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-decoration:underline;"><b><u><font size="1" face="Footlight MT Light" style="font-size:8.0pt;">Exhibit Number</font></u></b></h6>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <h6 style="font-size:1.0pt;letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-decoration:underline;">&nbsp;</h6>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <h6 style="letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-decoration:underline;"><b><u><font size="1" face="Times New Roman" style="font-size:8.0pt;">Name</font></u></b></h6>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt .5in;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">5.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Opinion of General Counsel,
  Cygnus, Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">23.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Consent of Ernst &amp; Young
  LLP, Independent Auditors.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">23.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Consent of General Counsel,
  Cygnus, Inc. is contained in Exhibit&nbsp;5.1.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">24.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Power of Attorney is included
  on signature page of this Registration Statement.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">99.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Cygnus, Inc. Amended 1991
  Employee Stock Purchase Plan (As Amended and Restated February 12, 2002).</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt .5in;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">99.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Cygnus, Inc. 1999 Stock
  Incentive Plan (As Amended and Restated February 12, 2002).</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>


<div style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="3" face="Times New Roman" style="font-size:12.0pt;">
<!-- ZEQ.=1,SEQ=4,EFW="2083412",CP="CYGNUS, INC",DN="1",CHK=714181,FOLIO='4',FILE="DISK020:[02PAL7.02PAL1887.EDGAR]S-8_1887.CHC",USER="DPHAMA",CD='Jun 28 12:09 2002' -->
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</font>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Item 9.&#160; <u>Undertakings</u></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The undersigned Registrant hereby undertakes:</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To file, during any period in which
offers or sales are being made, a post-effective amendment to this Registration
Statement:</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to include any prospectus required
by Section 10(a)(3) of the Securities Act;</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to reflect in the prospectus any
facts or events arising after the effective date of the Registration Statement
(or the most recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set forth in
the Registration Statement.&#160;
Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148;
table in the effective Registration Statement;</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to include any material information
with respect to the plan of distribution not previously disclosed in the
Registration Statement or any material change to such information in the
Registration Statement;</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed by the Registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in the
Registration Statement.</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To remove from registration by means
of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.</font></p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The undersigned Registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act, each filing of
the Registrant&#146;s annual report pursuant to Section 13(a) or Section 15(d) of
the Exchange Act that is incorporated by reference in the Registration
Statement shall be deemed to be a new Registration Statement relating to the
securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.</font></p>

<p align="center" style="margin:0in 0in 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>


<div style="margin:0in 0in 12.0pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- ZEQ.=1,SEQ=5,EFW="2083412",CP="CYGNUS, INC",DN="1",CHK=984073,FOLIO='5',FILE="DISK020:[02PAL7.02PAL1887.EDGAR]S-8_1887.CHC",USER="DPHAMA",CD='Jun 28 12:09 2002' -->
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</font>

<p align="center" style="font-size:12.0pt;margin:0in 0in 12.0pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Insofar as indemnification for liabilities arising under
the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable.&#160; In the
event that a claim for indemnification against such liabilities (other than the
payment by the Registrant of expenses incurred or paid by a director, officer
or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication
of such issue.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>


<div style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="2" face="Times New Roman" style="font-size:10.0pt;">
<!-- ZEQ.=1,SEQ=6,EFW="2083412",CP="CYGNUS, INC",DN="1",CHK=340455,FOLIO='6',FILE="DISK020:[02PAL7.02PAL1887.EDGAR]S-8_1887.CHC",USER="DPHAMA",CD='Jun 28 12:09 2002' -->
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">SIGNATURES</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Act of
1933, as amended, the Registrant certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on Form S-8, and has
duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Redwood City, State of
California on this 28th&nbsp;day of June 2002.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="82%" style="border-collapse:collapse;width:82.14%;">
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.26%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:50.74%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">CYGNUS, INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.26%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.2%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="44%" valign="top" style="padding:0in .7pt 0in .7pt;width:44.54%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.26%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.2%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">By: </font></p>
  </td>
  <td width="44%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:44.54%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">/s/ John C Hodgman</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.26%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.2%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="44%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:44.54%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">John C Hodgman</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.26%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.2%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="44%" valign="top" style="padding:0in .7pt 0in .7pt;width:44.54%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Chairman,
  President and Chief Executive Officer</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>


<div style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="3" face="Times New Roman" style="font-size:12.0pt;">
<!-- ZEQ.=1,SEQ=7,EFW="2083412",CP="CYGNUS, INC",DN="1",CHK=309561,FOLIO='7',FILE="DISK020:[02PAL7.02PAL1887.EDGAR]S-8_1887.CHC",USER="DPHAMA",CD='Jun 28 12:09 2002' -->
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</font>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">POWER OF ATTORNEY</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">KNOW BY ALL PERSONS
BY THESE PRESENTS:</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">That the undersigned officers and
directors of Cygnus, Inc., a Delaware corporation, do hereby constitute and
appoint John C Hodgman and Craig W. Carlson the lawful attorneys-in-fact and
agents with full power and authority to do any and all acts and things and to
execute any and all instruments which said attorneys and agents determine may
be necessary or advisable or required to enable said corporation to comply with
the Securities Act of 1933, as amended, and any rules or regulations or
requirements of the Securities and Exchange Commission in connection with this
Registration Statement. Without limiting the generality of the foregoing power
and authority, the powers granted include the power and authority to sign the
names of the undersigned officers and directors in the capacities indicated
below to this Registration Statement, to any and all amendments, both
pre-effective and post-effective, and supplements to this Registration
Statement, and to any and all instruments or documents filed as part of or in
conjunction with this Registration Statement or amendments or supplements
thereof, and each of the undersigned hereby ratifies and confirms all that said
attorneys and agents shall do or cause to be done by virtue hereof. This Power
of Attorney may be signed in several counterparts.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; IN
WITNESS WHEREOF, each of the undersigned has executed this Power of Attorney as
of the date indicated.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed below by the following persons in the capacities and
on the dates indicated.</font></p>

<p style="margin:0in -.5in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="font-family:Times;">
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
  <h1 align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="1" face="Times New Roman" style="font-size:8.0pt;">Signatures</font></u></b></h1>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <h1 align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;">&nbsp;</h1>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <h1 align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="1" face="Times New Roman" style="font-size:8.0pt;">Title</font></u></b></h1>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <h1 align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;">&nbsp;</h1>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <h1 align="left" style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><b><u><font size="1" face="Times New Roman" style="font-size:8.0pt;">Date</font></u></b></h1>
  </td>
 </tr>
 <tr height="15" style="font-family:Courier;height:11.25pt;">
  <td width="29%" height="15" valign="top" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" height="15" valign="bottom" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" height="15" valign="top" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" height="15" valign="bottom" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" height="15" valign="top" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr height="15" style="font-family:Courier;height:11.25pt;">
  <td width="29%" height="15" valign="top" style="border:none;border-bottom:solid windowtext .5pt;height:11.25pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ John C Hodgman </font></p>
  </td>
  <td width="2%" rowspan="2" valign="bottom" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" rowspan="2" valign="top" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chairman of the Board of Directors, President
  and Chief Executive Officer (Principal Executive Officer)</font></p>
  </td>
  <td width="2%" rowspan="2" valign="bottom" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" rowspan="2" valign="top" style="height:11.25pt;padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 28, 2002</font></p>
  </td>
 </tr>
 <tr height="15" style="height:11.25pt;">
  <td width="29%" height="15" valign="top" style="border:none;height:11.25pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">John C Hodgman</font></p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr height="23" style="height:16.9pt;">
  <td width="29%" height="23" valign="bottom" style="border:none;border-bottom:solid windowtext .5pt;height:16.9pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Craig W. Carlson </font></p>
  </td>
  <td width="2%" rowspan="2" valign="bottom" style="height:16.9pt;padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" rowspan="2" valign="top" style="height:16.9pt;padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Operating
  Officer, Chief Financial Officer and Senior Vice President (Principal
  Financial Officer and Principal Accounting Officer)</font></p>
  </td>
  <td width="2%" rowspan="2" valign="bottom" style="height:16.9pt;padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" rowspan="2" valign="top" style="height:16.9pt;padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 28, 2002</font></p>
  </td>
 </tr>
 <tr height="22" style="height:16.85pt;">
  <td width="29%" height="22" valign="top" style="border:none;height:16.85pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Craig W. Carlson</font></p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr height="8" style="height:5.65pt;">
  <td width="29%" height="8" valign="top" style="border:none;border-bottom:solid windowtext .5pt;height:5.65pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Andr&#233; F. Marion </font></p>
  </td>
  <td width="2%" rowspan="2" valign="bottom" style="height:5.65pt;padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" rowspan="2" valign="top" style="height:5.65pt;padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice Chairman of the
  Board of Directors</font></p>
  </td>
  <td width="2%" rowspan="2" valign="bottom" style="height:5.65pt;padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" rowspan="2" valign="top" style="height:5.65pt;padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 28, 2002</font></p>
  </td>
 </tr>
 <tr height="7" style="height:5.6pt;">
  <td width="29%" height="7" valign="top" style="border:none;height:5.6pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Andr&#233; F. Marion</font></p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Frank T. Cary</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 28, 2002</font></p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Frank T. Cary</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Richard G. Rogers</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 28, 2002</font></p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Richard G. Rogers</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Walter B. Wriston</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 28, 2002</font></p>
  </td>
 </tr>
 <tr>
  <td width="29%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:29.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Walter B. Wriston</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="53%" valign="top" style="padding:0in .7pt 0in .7pt;width:53.04%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.64%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
  <td width="12%" valign="top" style="padding:0in .7pt 0in .7pt;width:12.38%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;">&nbsp;</p>
  </td>
 </tr>
</table>

<p style="margin:0in -.5in .0001pt 0in;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h5 align="left" style="font-weight:normal;letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;text-decoration:underline;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;">A majority of the Board of Directors</font></h5>

<h5 style="font-weight:normal;letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-decoration:underline;"><font size="2" face="Times New Roman" style="font-size:10.0pt;text-decoration:none;">&nbsp;</font></h5>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">8</font></p>


<div style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">

<hr size="2" width="100%" noshade color="gray" align="left">

</font></div>

<font size="3" face="Times New Roman" style="font-size:12.0pt;">
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<p style="font-size:12.0pt;margin:0in 0in .0001pt;">&nbsp;</p>

<h5 style="font-weight:normal;letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-decoration:underline;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT INDEX</font></u></h5>

<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="font-family:'Footlight MT Light';">
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <h6 style="letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-decoration:underline;"><b><u><font size="1" face="Footlight MT Light" style="font-size:8.0pt;">Exhibit Number</font></u></b></h6>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <h6 style="font-size:1.0pt;letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-decoration:underline;">&nbsp;</h6>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <h6 style="letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-decoration:underline;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name</font></u></b></h6>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="font-size:12.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">5.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Opinion of General Counsel,
  Cygnus, Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">23.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Consent of Ernst &amp; Young
  LLP, Independent Auditors.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">23.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Consent of General Counsel,
  Cygnus, Inc. is contained in Exhibit&nbsp;5.1.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">24.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Power of Attorney is included
  on signature page of this Registration Statement.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">99.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Cygnus, Inc. Amended 1991
  Employee Stock Purchase Plan (As Amended and Restated February 12, 2002).</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in .7pt 0in .7pt;width:15.88%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">99.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.7%;">
  <p style="font-size:1.0pt;margin:0in 0in .0001pt;page-break-after:avoid;">&nbsp;</p>
  </td>
  <td width="81%" valign="top" style="padding:0in .7pt 0in .7pt;width:81.42%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Cygnus, Inc. 1999 Stock
  Incentive Plan (As Amended and Restated February 12, 2002).</font></p>
  </td>
 </tr>
</table>

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[{"type": "S-8", "sequence": "1", "filename": "a2083412zs-8.htm", "description": "FORM S-8", "secsgml_size_bytes": 93362}]
{"company-data": {"conformed-name": "CYGNUS INC /DE/", "cik": "0000870755", "assigned-sic": "2834", "irs-number": "942978092", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-91518", "film-number": "02691671"}, "business-address": {"street1": "400 PENOBSCOT DR", "city": "REDWOOD CITY", "state": "CA", "zip": "94063", "phone": "6503694300"}, "mail-address": {"street1": "400 PENOBSCOT DR", "city": "REDWOOD CITY", "state": "CA", "zip": "94063-4719"}, "former-company": {"former-conformed-name": "CYGNUS THERAPEUTIC SYSTEMS", "date-changed": "19930328"}}
As filed with the Securities and
Exchange Commission on June 28, 2002
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES
ACT OF
1933
CYGNUS, INC.
(Exact name of registrant as specified in its charter)
Delaware
94-2978092
(State or other
  jurisdiction
(IRS Employer
  Identification No.)
of incorporation
  or organization)
400
Penobscot Drive, Redwood City, CA  94063
(Address of principal executive offices) (Zip Code)
CYGNUS,
INC. AMENDED 1991 EMPLOYEE STOCK PURCHASE PLAN
CYGNUS, INC. 1999 STOCK INCENTIVE
PLAN
(Full title of the Plans)
BARBARA
G. McCLUNG, ESQ.
Senior
Vice President, General Counsel and Secretary
CYGNUS, INC.
400
Penobscot Drive, Redwood City, CA  94063
(Name and address of agent for service)
(650)
369-4300
(Telephone number, including area code, of agent for
service)
CALCULATION OF REGISTRATION FEE
Title of Securities
to be
Registered
Amount
to be Registered
(1)
Proposed
  Maximum Offering Price
Per Share
Proposed
  Maximum Aggregate Offering Price
Amount
  of Registration Fee
Common Stock, $0.001 par value (Amended 1991
  Employee Stock Purchase Plan)
300,000
$
1.72 (2
)
$
516,000 (2
)
$
47.47
Common Stock, $0.001 par value (1999 Stock
  Incentive Plan)
1,500,000
$
2.02 (3
)
$
3,030,000 (3
)
$
278.76
TOTAL:
1,800,000
$
3,546,000
$
326.23
(1)
This
Registration Statement shall also cover any additional shares of Common Stock
which become issuable under the Cygnus, Inc. Amended 1991 Employee Stock
Purchase Plan or the 1999 Stock Incentive Plan by reason of any stock dividend,
stock split, recapitalization or other similar transaction effected without the
Registrant's receipt of consideration which results in an increase in the
number of the Registrant's outstanding shares of Common Stock.
(2)
Calculated
solely for purposes of this offering under Rule 457(h) of the Securities Act of
1933, as amended, on the basis of the average of the high and low prices per
share of Common Stock of Cygnus, Inc. on June 26, 2002, as reported by the
Nasdaq National Market System, multiplied by 85%, which is the percentage of
the trading purchase price applicable to purchases under the referenced Plan.
(3)
Calculated
solely for purposes of this offering under Rule 457(h) of the Securities Act of
1933, as amended, on the basis of the average of the high and low prices per
share of Common Stock of Cygnus, Inc. on June 26, 2002, as reported by the
Nasdaq National Market System.
PART
II
Information
Required in the Registration Statement
Item 3.
Incorporation of
Certain Documents by Reference
The following documents filed by the Company under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), with the
Securities and Exchange Commission (the "Commission") are incorporated herein
by reference:
a.
The Registrant's latest annual report on Form 10-K for
the year ended December 31, 2001 filed March 27, 2002, as amended by Form
10-K/A filed April 3, 2002, pursuant to Section 13(a) or 15(d) of the Exchange
Act;
b.
All reports filed by the Registrant pursuant to
Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year
covered by the Registrant's latest annual report; including but not limited to
the Form 10-Q for the period ending March 31, 2002 filed May 1, 2002 and Form
8-Ks filed January 22, 2002, February 14, 2002, February 19, 2002, February 28,
2002, April 4, 2002, April 17, 2002, April 29, 2002 and May 17, 2002;
c.              The Registrant's Registration
Statement on Form 8-A filed with the Commission on December 21, 1990, which
provides a description of the Registrant's Common Stock, including any
amendments or reports filed for the purpose of updating such description; and
d.             The Registrant's Registration
Statements on Form 8-A filed with the Commission on October 29, 1993, and
December 14, 1998, which provide descriptions of the Registrant's Preferred
Share Purchase Rights, including any amendments or reports filed for the purpose
of updating such description.
All documents subsequently filed by the Registrant
pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Exchange Act, prior to
the filing of a post-effective amendment which indicates that all securities
offered have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration
Statement and to be a part hereof from the date of filing of such documents.
Any statement
contained in a document incorporated by reference herein shall be deemed to be
modified or superseded for purposes of this Registration Statement to the
extent that a statement contained in a subsequently filed document which is
also incorporated by reference herein modifies or supersedes such statement.
2
Item 4.
Description of
Securities
Not applicable.
Item 5.
Interests of Named Experts and Counsel
Barbara G.
McClung, Senior Vice President, General Counsel and Secretary of the
Registrant, acted as counsel for the Registrant in connection with the
Registration Statement and opined on the validity of the shares to be issued
and sold by the Registrant pursuant hereto. 
As of June 27, 2002, Ms. McClung beneficially owned 158,183 shares
of the Registrant's common stock, including employee stock options to purchase
143,183 shares, exercisable within 60 days.
Item 6.
Indemnification of
Directors and Officers
Section 145 of the General Corporation Law of the
State of Delaware (the "Delaware Law") authorizes a Delaware corporation to
indemnify officers, directors, employees and agents of the corporation, in
connection with actual or threatened actions, suits or proceedings provided
that such officer, director, employee or agent acted in good faith and in a
manner such officer reasonably believed to be in or not opposed to the
corporation's best interests, and, for criminal proceedings, had no reasonable
cause to believe his or her conduct was unlawful.  This authority is sufficiently broad to permit indemnification
under certain circumstances for liabilities (including reimbursement for
expenses incurred) arising under the Securities Act of 1933, as amended (the
"Securities Act").
The Registrant's Bylaws require the Registrant to
indemnify each of its officers and directors to the fullest extent permitted by
the Delaware Law against certain expenses, judgments, fines, settlements, and
other amounts actually and reasonably incurred in connection with any
proceeding arising by reason of the fact that such person is or was an agent of
the Registrant.  In addition, the Bylaws
grant the Registrant the power to indemnify the Registrant's employees and
agents under certain circumstances to the fullest extent permitted by Delaware
Law against certain expenses, judgments, fines, settlements and other amounts
actually and reasonably incurred in connection with any proceeding arising by
reason of the fact that such person is or was an agent of the Registrant.
Article IX of
Registrant's Certificate of Incorporation provides that, to the fullest extent
permitted by Delaware Law, the Registrant's directors shall not be personally
liable to the Registrant or its stockholders for monetary damages for breach of
fiduciary duty as a director.
The Registrant
maintains directors' and officers' liability insurance policies insuring its
directors and officers against certain liabilities and expenses incurred by
them in their capacities as such, and insuring the Registrant under certain
circumstances, in the event that indemnification payments are made by the
Registrant to such directors and officers.
3
The Registrant has
entered into indemnification agreements with the Registrant's officers and
directors, pursuant to which the Registrant is obligated to indemnify each
officer and director against certain claims and expenses for which the officer
or director might be held liable.
Item 7.
Exemption from
Registration Claimed
Not applicable.
Item 8.
Exhibits
Exhibit Number
Name
5.1
Opinion of General Counsel,
  Cygnus, Inc.
23.1
Consent of Ernst & Young
  LLP, Independent Auditors.
23.2
Consent of General Counsel,
  Cygnus, Inc. is contained in Exhibit 5.1.
24.1
Power of Attorney is included
  on signature page of this Registration Statement.
99.1
Cygnus, Inc. Amended 1991
  Employee Stock Purchase Plan (As Amended and Restated February 12, 2002).
99.2
Cygnus, Inc. 1999 Stock
  Incentive Plan (As Amended and Restated February 12, 2002).
4
Item 9.
Undertakings
(a)           The undersigned Registrant hereby undertakes:
(1)           To file, during any period in which
offers or sales are being made, a post-effective amendment to this Registration
Statement:
(i)            to include any prospectus required
by Section 10(a)(3) of the Securities Act;
(ii)           to reflect in the prospectus any
facts or events arising after the effective date of the Registration Statement
(or the most recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set forth in
the Registration Statement. 
Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of prospectus
filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes
in volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee"
table in the effective Registration Statement;
(iii)          to include any material information
with respect to the plan of distribution not previously disclosed in the
Registration Statement or any material change to such information in the
Registration Statement;
provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed by the Registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in the
Registration Statement.
(2)           That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(3)           To remove from registration by means
of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.
(b)           The undersigned Registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act, each filing of
the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of
the Exchange Act that is incorporated by reference in the Registration
Statement shall be deemed to be a new Registration Statement relating to the
securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
5
(c)           Insofar as indemnification for liabilities arising under
the Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable.  In the
event that a claim for indemnification against such liabilities (other than the
payment by the Registrant of expenses incurred or paid by a director, officer
or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication
of such issue.
6
SIGNATURES
Pursuant to the requirements of the Securities Act of
1933, as amended, the Registrant certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on Form S-8, and has
duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Redwood City, State of
California on this 28th day of June 2002.
CYGNUS, INC.
By:
/s/ John C Hodgman
John C Hodgman
Chairman,
  President and Chief Executive Officer
7
POWER OF ATTORNEY
KNOW BY ALL PERSONS
BY THESE PRESENTS:
That the undersigned officers and
directors of Cygnus, Inc., a Delaware corporation, do hereby constitute and
appoint John C Hodgman and Craig W. Carlson the lawful attorneys-in-fact and
agents with full power and authority to do any and all acts and things and to
execute any and all instruments which said attorneys and agents determine may
be necessary or advisable or required to enable said corporation to comply with
the Securities Act of 1933, as amended, and any rules or regulations or
requirements of the Securities and Exchange Commission in connection with this
Registration Statement. Without limiting the generality of the foregoing power
and authority, the powers granted include the power and authority to sign the
names of the undersigned officers and directors in the capacities indicated
below to this Registration Statement, to any and all amendments, both
pre-effective and post-effective, and supplements to this Registration
Statement, and to any and all instruments or documents filed as part of or in
conjunction with this Registration Statement or amendments or supplements
thereof, and each of the undersigned hereby ratifies and confirms all that said
attorneys and agents shall do or cause to be done by virtue hereof. This Power
of Attorney may be signed in several counterparts.
IN
WITNESS WHEREOF, each of the undersigned has executed this Power of Attorney as
of the date indicated.
Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed below by the following persons in the capacities and
on the dates indicated.
Signatures
Title
Date
/s/ John C Hodgman
Chairman of the Board of Directors, President
  and Chief Executive Officer (Principal Executive Officer)
June 28, 2002
John C Hodgman
/s/ Craig W. Carlson
Chief Operating
  Officer, Chief Financial Officer and Senior Vice President (Principal
  Financial Officer and Principal Accounting Officer)
June 28, 2002
Craig W. Carlson
/s/ André F. Marion
Vice Chairman of the
  Board of Directors
June 28, 2002
André F. Marion
/s/ Frank T. Cary
Director
June 28, 2002
Frank T. Cary
/s/ Richard G. Rogers
Director
June 28, 2002
Richard G. Rogers
/s/ Walter B. Wriston
Director
June 28, 2002
Walter B. Wriston
A majority of the Board of Directors
8
EXHIBIT INDEX
Exhibit Number
Name
5.1
Opinion of General Counsel,
  Cygnus, Inc.
23.1
Consent of Ernst & Young
  LLP, Independent Auditors.
23.2
Consent of General Counsel,
  Cygnus, Inc. is contained in Exhibit 5.1.
24.1
Power of Attorney is included
  on signature page of this Registration Statement.
99.1
Cygnus, Inc. Amended 1991
  Employee Stock Purchase Plan (As Amended and Restated February 12, 2002).
99.2
Cygnus, Inc. 1999 Stock
  Incentive Plan (As Amended and Restated February 12, 2002).