[GRAPHIC OMITTED] Given Imaging                                        EXHIBIT 1

For Immediate Release
For further information contact:

Yoram Ashery                                 Fern Lazar/David Carey
Given Imaging Ltd.                           Lazar Partners Ltd.
                                             1-(866) GIVEN-IR
                                             flazar@lazarpartners.com/
                                             dcarey@lazarpartners.com


                GIVEN IMAGING REPORTS FIRST QUARTER 2005 RESULTS
                ------------------------------------------------

      - Quarterly sales growth of 73% to $22 million with EPS of 4 cents -

        - A record 29,340 PillCam SB Capsules sold in the first quarter -


Yoqneam, Israel - May 2, 2005-Given Imaging Ltd. (NASDAQ: GIVN) today announced
results for the first quarter ended March 31, 2005.

Worldwide sales of the Given(R) System and PillCam(TM) video capsules reached
$22 million in the first quarter of 2005, a 73% increase over sales of $12.7
million in the first quarter of 2004. Gross margin in the quarter was 70.9% of
revenues compared to 70.7% of revenues in the first quarter of 2004. Sales and
gross margin both include the impact of the special PillCam ESO and DataRecorder
2.0 promotion that commenced last year and continued through the end of the
first quarter, contributing approximately $3.2 million in sales this quarter
with a reduced gross margin. Net profit for the first quarter was $1.2 million,
or $0.04 per share on a diluted basis, compared to a net loss of $585,000 or
$(0.02) per share in the first quarter of 2004. Cash balance at the end of the
first quarter was $81.8 million.

"With a record of PillCam SB reorders, our results this quarter underscore that
our recurring revenue model is working well," said Gavriel D. Meron, president
and CEO of Given Imaging. "In the first quarter, together with InScope, we have
built one of the most formidable sales forces in the GI endoscopy market. This
team is now poised to

<PAGE>
leverage on our large and growing installed base to further drive the growth of
PillCam sales."

First Quarter 2005 Revenue Analysis
-----------------------------------

The geographic breakdown of first quarter 2005 sales is as follows:

(Millions of U.S. dollars)
United States     $16.3
Europe and ROW    $ 5.7

In the first quarter of 2005, worldwide reorders of the PillCam SB capsule
endoscope grew to 27,900, 58% higher than the first quarter of 2004 and 15%
higher than the fourth quarter of 2004. Sales in the United States increased by
85% mainly due to growth in PillCam SB sales as well as the PillCam ESO and DR
2.0 special promotion. Sales in Europe and ROW increased by 45% compared to the
first quarter of 2004, due mainly to strong growth in capsule utilization in
Italy, France and Australia. The total number of PillCam SB capsules sold in the
quarter was 29,340, 55% higher than in the first quarter of 2004 and 11% higher
than the fourth quarter of 2004. To date, cumulative unit sales of PillCam SB
have reached 201,000. As part of the PillCam ESO and DataRecorder 2.0
promotional campaign, 6,700 PillCam ESO capsules were sold in the first quarter
of 2005, including capsules sold for customer evaluations and for use in
clinical trials, compared to 5,300 PillCam ESO capsules sold in the fourth
quarter of 2004. Due primarily to the lack of reimbursement coverage, reorders
of PillCam ESO capsules in the first quarter were insignificant.

Sales of Given Systems totaled 145 for the first quarter of 2005, compared to
134 systems sold in the first quarter of 2004. Of these systems, 100 were sold
in the United States during the first quarter of 2005, compared to 91 sold in
the United States in the first quarter of 2004. Cumulatively, there are 2,435
systems placed worldwide, of which 1,432 are in the U.S. reflecting a
penetration rate of approximately 20% of the U.S. market.

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<PAGE>
First Quarter Highlights
------------------------

o    4th International Conference on Capsule Endoscopy (ICCE)
     --------------------------------------------------------

In March, more than 430 physicians from 37 countries attended ICCE, the
International Conference on Capsule Endoscopy. During the conference,
international thought leaders convened to reach consensus on the role of Capsule
Endoscopy in the treatment algorithm for the major disease indications. In
addition, 118 abstracts were presented on various topics, including use of
Capsule Endoscopy in the diagnosis of celiac disease, evaluation of esophageal
varices using PillCam ESO in patients with end stage liver disease, and use of
PillCam SB in the evaluation of mucosal healing in patients with Crohn's
disease.

o    Expanding Reimbursement
     -----------------------

     PillCam SB

     o    The Central Consultation Committee for Reimbursement Issues of
          Germany's Federal Chamber of Physicians approved reimbursement for
          capsule endoscopy as a first line tool for obscure gastrointestinal
          bleeding. This decision provides reimbursement for the 8.2 million
          German citizens who are covered by private insurance.

     o    In the U.S, as a result of decisions made by Blue Cross Blue Shield
          Minnesota, Blue Cross Blue Shield Vermont and Medicare South Carolina
          to revise their capsule endoscopy policies to cover expanded
          indications, there are now 172 million people in the United States,
          compared to 167 million at the end of 2004, who have reimbursement
          coverage for use of the PillCam SB capsule for expanded indications,
          such as suspected Crohn's disease and small bowel tumors. The total
          number of covered lives in the U.S. remains at 206 million.

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<PAGE>
     o    Australia's minister for Health and Ageing approved reimbursement of
          PillCam SB for pediatric patients for the obscure GI bleeding
          indication effective May 1.

In Europe, the population with reimbursable access to capsule endoscopy grew
from 102 million at the end of 2004 to 110 million at the end of the first
quarter of 2005. The number of lives with reimbursement for expanded indications
remained at 87 million.

The worldwide population with reimbursable access to capsule endoscopy grew to
335 million at the end of the first quarter of 2005 from 327 million at the end
of 2004, and the number of lives with reimbursement for expanded indications
grew to 258 million at the end of the first quarter from 253 million at the end
of 2004.

PillCam ESO
-----------

     o    Two private insurance companies in Israel, Menora Insurance Company
          and Clal Insurance, approved coverage policy for PillCam ESO for
          visualization of the esophagus.

     o    Efforts are ongoing with private payers in the United states to
          initiate coverage policies for PillCam ESO.

     o    Given Imaging and partner InScope completed the special promotional
          campaign offering a PillCam ESO 10-Pack and new DataRecorder 2.0 at a
          combined discounted price. In addition, Given Imaging completed the
          upgrade of the installed base to RAPID 3, resulting in 1,300 sites in
          the United States now software compatible with PillCam ESO.

New Product Update
------------------

     o    The Company continued intensive efforts and made progress during the
          quarter in the development of the PillCam(TM) COLON. This capsule
          under development is designed as an ingestible video capsule for
          screening the colon, leveraging on the Rapid platform. At the coming
          Digestive Disease Week meeting, to take place May 15-19, in Chicago,
          IL, the Company plans to commence enrolling sites for

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<PAGE>
          initial clinical trials with the product, which are expected to begin
          later this year. We expect to submit the product for clearance by FDA
          and launch it in Europe in 2006.

Operational News
----------------

     o    Given Imaging completed construction of a second production line for
          PillCam ESO in a new facility in Yoqneam.


Second Quarter Guidance/Confirming Annual Guidance
--------------------------------------------------

For the second quarter of 2005 the company expects sales of $22 to $24 million,
with earnings between $0.06 and $0.10 per share. (In the first quarter the
company completed the special PillCam ESO and DR 2.0 promotion, which
contributed $3.2 million to the $22 million total revenue in the first quarter).
The guided EPS for the second quarter reflects accelerated investments in new
product development, expansion of U.S. sale and marketing activities and
preparations for anticipated launch in Japan this year. The company confirms its
previously provided annual guidance of $95 - 105 million and earnings per share
of $0.40-$0.50.

First Quarter Webcast Information
---------------------------------

Given Imaging will host a conference call tomorrow, Wednesday, May 3, 2005, at
9:00 am Eastern Time to discuss first quarter results. The conference call will
be webcast through the Company's website www.givenimaging.com.

About Given Imaging
-------------------

Given Imaging is redefining gastrointestinal diagnosis by developing, producing
and marketing innovative, patient-friendly products for detecting
gastrointestinal disorders. The company is developing a complete line of PillCam
video capsules for detecting disorders throughout the gastrointestinal tract.
The company's technology platform is the Given(R) Diagnostic System, featuring
the PillCam(TM) video capsule, a disposable, miniature video camera contained in
a capsule, which is ingested by the patient. The PillCam(TM) SB video capsule is
the only naturally ingested method for direct visualization of the entire small
intestine. It is currently

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<PAGE>
marketed in the United States and in more than 50 other countries and has
benefited more than 200,000 patients worldwide. The PillCam(TM) ESO video
capsule, which provides visual examination of the esophagus, has been cleared
for marketing by the FDA. Additional capsules for visualization of the stomach
and colon are under development. Given Imaging's headquarters, manufacturing and
R&D facilities are located in Yoqneam, Israel; it has direct sales and marketing
operations in the United States, Germany and France, and local offices in Tokyo,
Madrid and Sydney. For more information, visit http://www.givenimaging.com.

This press release contains forward-looking statements about Given Imaging,
including projections about our business and our future revenues, expenses and
profitability, within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. For example, statements
in the future tense, words such as "anticipates," "estimates," "expects,"
"intends," "plans," "believes," and words and terms of similar substance used in
connection with any discussion of future operating or financial performance
identify such forward-looking statements. Those forward-looking statements are
not guarantees of future performance and actual results could differ materially
from our current expectations as a result of numerous factors, including but not
limited to the following: changes in regulatory environment, our success in
implementing our sales, marketing and manufacturing plan, protection and
validity of patents and other intellectual property rights, the impact of
currency exchange rates, the effect of competition by other companies, the
outcome of future litigation, the reimbursement policies for our product from
healthcare payors, quarterly variations in operating results, the impact of the
newly adopted SFAS 123R for expensing option-based payments, the possibility of
armed conflict or civil or military unrest in Israel and other risks disclosed
in our filings with the U.S. Securities and Exchange Commission.


                            (Financial tables follow)

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<PAGE>
              Given Imaging Ltd. and its Consolidated Subsidiaries
                           Consolidated Balance Sheets
                         In thousands except share data

<TABLE>
<CAPTION>
                                                                                             March 31,        December 31,
                                                                                          --------------    ---------------
                                                                                                2005              2004
                                                                                          --------------    ---------------
<S>                                                                                       <C>               <C>
Assets
Current assets
Cash and cash equivalents                                                                     $   81,769        $   80,861
Accounts receivable:
  Trade - (Net of provisions for doubtful debts of $115
  as of March 31, 2005 and December 31, 2004)                                                     12,766            12,261
  Other                                                                                            1,391             1,271
Inventories                                                                                       14,060            13,794
Prepaid expenses                                                                                   1,103               954
Deferred taxes                                                                                       855               737
Advances to suppliers                                                                                305               555
                                                                                          --------------    ---------------
Total current assets                                                                             112,249           110,433
                                                                                          --------------    ---------------

Deposits                                                                                             409               425

Assets held for severance benefits                                                                 1,395             1,339

Fixed assets, at cost, less accumulated depreciation                                              11,882             9,862

Other assets, at cost, less accumulated amortization                                               2,134             2,165
                                                                                          --------------    ---------------
Total Assets                                                                                  $  128,069        $  124,224
                                                                                          ==============    ===============

Liabilities and shareholders' equity
Current liabilities
Current installments of obligation under capital lease                                        $       12        $       11
Accounts payable
  Trade                                                                                            5,946             5,147
  Other                                                                                            6,984             8,678
Deferred revenue                                                                                   2,542             3,610
                                                                                          --------------    ---------------
Total current liabilities                                                                         15,484            17,446
                                                                                          --------------    ---------------

Long-term liabilities
Deferred income                                                                                   13,737             9,340
Obligation under capital lease, net                                                                   44                48
Liability for employee severance benefits                                                          1,662             1,596
                                                                                          --------------    ---------------
Total long-term liabilities                                                                       15,443            10,984
                                                                                          --------------    ---------------
Total liabilities                                                                                 30,927            28,430
                                                                                          --------------    ---------------

Minority interest                                                                                    908             1,177

Shareholders' equity                                                                              96,234            94,617
                                                                                          --------------    ---------------
Total liabilities and shareholders' equity                                                    $  128,069        $  124,224
                                                                                          ==============    ===============
</TABLE>

                                        7
<PAGE>
              Given Imaging Ltd. and its Consolidated Subsidiaries
                      Consolidated Statements of Operations
                  In thousands except share and per share data


<TABLE>
<CAPTION>
                                                                            Three month period ended
                                                                                    March 31,                    Year ended
                                                                       ---------------------------------        December 31,
                                                                             2005              2004                 2004
                                                                       ----------------  ---------------      ----------------
<S>                                                                    <C>               <C>                  <C>
Revenues                                                                      $ 22,009        $  12,751             $  65,020
Cost of revenues                                                                 6,401            3,736                17,734
                                                                       ----------------  ---------------      ----------------

Gross profit                                                                    15,608            9,015                47,286

Operating expenses

Research and development, gross                                                 (1,903)          (1,621)               (7,363)
Royalty bearing participation                                                        -                -                 1,140
                                                                       ----------------  ---------------      ----------------

Research and development, net                                                   (1,903)          (1,621)               (6,223)
Sales and marketing expenses                                                   (10,812)          (7,019)              (33,652)
General and administrative expenses                                             (2,039)          (1,208)               (6,916)
                                                                       ----------------  ---------------      ----------------

Total operating expenses                                                       (14,754)          (9,848)              (46,791)
                                                                       ----------------  ---------------      ----------------

Operating profit (loss)                                                            854             (833)                  495
Financing income, net                                                               51               61                   956
                                                                       ----------------  ---------------      ----------------

Profit (loss) before taxes on income                                               905             (772)                1,451
Taxes on income                                                                     74                -                   690
                                                                       ----------------  ---------------      ----------------

Profit (loss) before minority share                                                979             (772)                2,141

Minority share in losses of subsidiary                                             269              187                   747
                                                                       ----------------  ---------------      ----------------

Net profit (loss)                                                             $  1,248        $    (585)            $   2,888
                                                                       ================  ===============      ================

Basic profit (loss) per Ordinary Share                                        $   0.05        $   (0.02)            $    0.11
                                                                       ================  ===============      ================

Diluted profit (loss) per Ordinary Share                                      $   0.04        $   (0.02)            $    0.10
                                                                       ================  ===============      ================

Weighted average number of Ordinary Shares used
to compute basic profit (loss) per Ordinary share                           27,638,940       25,694,571            26,633,964
                                                                       ================  ===============      ================

Weighted average number of Ordinary Shares used
to compute dilute profit (loss) per Ordinary share                          30,080,423       25,694,571            29,353,448
                                                                       ================  ===============      ================
</TABLE>

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