Exhibit 99.1

STERIS CORPORATION

NEWS ANNOUNCEMENT

FOR IMMEDIATE RELEASE

STERIS CORPORATION ANNOUNCES FISCAL 2011 THIRD QUARTER RESULTS

Mentor, Ohio (February 8, 2011) - STERIS Corporation (NYSE: STE) today announced financial results for its fiscal 2011 third quarter ended December 31, 2010. Fiscal 2011 third quarter revenue was $328.3 million compared with $327.8 million in the third quarter of fiscal 2010, with growth in the Healthcare and Isomedix segments offset by a decline in the Life Sciences segment.

During the third quarter of fiscal 2011 the Company recorded a pre-tax operating expense charge of $19.8 million ($13.1 million or $0.22 per diluted share after tax) for the settlement of the previously reported SYSTEM 1^® class action litigation. This settlement is subject to, among other things, certification of the class and approval of the settlement by the court. In addition, fiscal 2011 third quarter net income was impacted favorably in the amount of $0.01 per diluted share due to a tax rate benefit from the previously announced SYSTEM 1 Rebate Program. In order to provide meaningful comparative analysis, the fiscal 2011 financial information provided in this press release excludes the impact of the SYSTEM 1 Rebate Program and the charge for the class action settlement, unless otherwise noted. Please refer to the attached schedules for additional information, including reconciliations from these “non-GAAP financial measures” to as reported results.

Fiscal 2011 third quarter operating income was $55.6 million compared with $59.4 million in the third quarter of fiscal 2010. Operating income for the third quarter of fiscal 2011 was negatively impacted by continued declines in SYSTEM 1 consumable (S20 Sterilant) volumes, as well as a higher portion of revenue coming from lower margin capital equipment products. Fiscal 2011 third quarter net income was $34.1 million, or $0.57 per diluted share, compared with net income of $41.0 million, or $0.69 per diluted share in the third quarter of fiscal 2010.

“During the third quarter, we began shipping our first SYSTEM 1E units. We are pleased to have received FDA clearance for the SYSTEM 1E chemical indicator, and we continue dialogue with the Agency regarding the clearance of a biological indicator for SYSTEM 1E,” said Walt Rosebrough, President and Chief Executive Officer of STERIS. “Although we can not give assurance whether or when

STERIS Corporation

News Announcement

Page 2

the Agency may clear our indicator, we believe our dialogue with the Agency has been constructive. We believe that SYSTEM 1E remains the best SYSTEM 1 transition alternative for most of our Customers’ needs, and we anticipate shipping approximately 1,000 SYSTEM 1E units this fiscal year.”

Segment Results

Healthcare revenue in the quarter grew 2% to $237.8 million compared with $233.3 million in the third quarter of fiscal 2010. Growth was driven by an 11% increase in capital equipment, reflecting solid performance from both surgical and infection prevention products. The growth was partially offset by a 7% decline in consumable revenue and a 3% decline in service revenue. Consumable revenue continued to be impacted by reductions in S20 Sterilant volumes and lower H1N1 product sales as compared to the prior year. Operating income was $40.2 million compared with $45.3 million in last year’s third quarter, primarily due to the declines in S20 volumes and a higher portion of revenue coming from lower margin capital equipment.

Life Sciences third quarter revenue was $51.2 million compared with $58.9 million in the third quarter of fiscal 2010, a decrease of 13%. Growth in consumable revenue of 6% and service revenue of 2% were not enough to offset a 35% decline in capital equipment revenue. The decline in capital equipment revenue was due to low order rates in the first half of the fiscal year. Life Sciences operating income was $7.3 million compared with $10.1 million in the prior year third quarter.

Fiscal 2011 third quarter revenue for Isomedix Services was $38.1 million compared with $35.0 million in the same period last year, an increase of 9%. Revenue benefitted from increased volumes from core medical device Customers. Operating income was $10.3 million in the quarter compared with $6.9 million in the third quarter of last year. As a reminder, fiscal 2010 third quarter operating income was negatively impacted by expenses of $1.7 million related to the Company’s decision to consolidate a facility and exit the E-beam materials modification business.

Cash Flow

Net cash provided by operations for the first nine months of fiscal 2011 was $83.4 million, compared with $158.7 million in the same period last year. Free cash flow (see note 1) for the first nine months of fiscal 2011 was $28.3 million, compared with $129.4 million in the prior year period. The

STERIS Corporation

News Announcement

Page 3

decline in free cash flow was driven by increased working capital requirements, primarily due to inventory build of SYSTEM 1E, which totaled $37 million at the end of the quarter, and lower accounts receivable collections. In addition, capital spending increased significantly during the quarter, driven in part by the timing of cobalt purchases for Isomedix, which totaled $9.7 million, and an additional $8.4 million spent by Isomedix to purchase two previously leased facilities.

During the quarter, the Company repurchased 96,259 shares of its common stock at an average price of $34.25 per share for a total amount of $3.3 million. Approximately $184 million remains available for additional purchases under the current share repurchase authorization.

Dividend Announcement

The Company also announced today that STERIS’s Board of Directors has authorized a quarterly dividend of $0.15 per common share. The dividend is payable March 29, 2011 to shareholders of record at the close of business on March 1, 2011.

Outlook

As a result of lower shipment levels for SYSTEM 1E during fiscal 2011, the Company is reducing its outlook for revenue growth for fiscal 2011. Revenue for fiscal 2011 is currently anticipated to increase 2% compared with fiscal 2010 levels, compared with 5% growth expectations previously. The Company is maintaining its prior earnings outlook of $2.15 to $2.30 per diluted share for the full fiscal year. This outlook reflects certain key assumptions, some of which are listed below:

STERIS Corporation

News Announcement

Page 4

For the full fiscal year 2011, free cash flow (see note 1) is currently anticipated to be in the range of $60 to $70 million, compared with prior expectations of $125 to $135 million. The decline in free cash flow expectations is due to increased working capital requirements, in particular SYSTEM 1E inventory. Capital expenditures are currently anticipated to be approximately $75 million.

Conference Call

In conjunction with this release, STERIS Corporation management will host a conference call today at 10:00 a.m. Eastern time. The conference call can be heard live over the Internet at www.steris-ir.com or via phone by dialing 1-800-369-8428 in the United States and Canada, and 1-773-799-3378 internationally, then referencing the password “STERIS”.

For those unable to listen to the conference call live, a replay will be available beginning at 12:00 p.m. Eastern time on February 8, 2011, either over the Internet at www.steris-ir.com or via phone by calling 1-800-871-1327 in the United States and Canada, and 1-203-369-3373 internationally.

About STERIS

The mission of STERIS Corporation is to provide a healthier today and safer tomorrow through knowledgeable people and innovative infection prevention, decontamination and health science technologies, products and services. The Company has approximately 5,000 dedicated employees around the world working together to supply a broad array of solutions by offering a combination of equipment, consumables and services to healthcare, pharmaceutical, industrial and government Customers. The Company is listed on the New York Stock Exchange under the symbol STE. For more information, visit www.steris.com.

Contact: Julie Winter, Director, Investor Relations at 440-392-7245.

STERIS Corporation

News Announcement

Page 5

(1) Free cash flow is a non-GAAP number used by the Company as a measure to gauge its ability to fund future growth opportunities, repurchase common shares, and pay cash dividends. Free cash flow is defined as cash flows from operating activities less purchases of property, plant, equipment and intangibles, net, plus proceeds from the sale of property, plant, equipment and intangibles. STERIS’s calculation of free cash flow may vary from other companies.

# # #

This news release and the referenced conference call may contain statements concerning certain trends, expectations, forecasts, estimates, or other forward-looking information affecting or relating to the Company or its industry, products or activities that are intended to qualify for the protections afforded “forward-looking statements” under the Private Securities Litigation Reform Act of 1995 and other laws and regulations. Forward-looking statements speak only as to the date of this report, and may be identified by the use of forward-looking terms such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “targets,” “forecasts,” “outlook,” “impact,” “potential,” “confidence,” “improve,” “optimistic,” “comfortable,” “trend”, and “seeks,” or the negative of such terms or other variations on such terms or comparable terminology. Many important factors could cause actual results to differ materially from those in the forward-looking statements including, without limitation, disruption of production or supplies, changes in market conditions, political events, pending or future claims or litigation, competitive factors, technology advances, actions of regulatory agencies, and changes in laws, government regulations, labeling or product approvals or the application or interpretation thereof. Other risk factors are described herein and in the Company’s Form 10-K and other securities filings. Many of these important factors are outside STERIS’s control. No assurances can be provided as to any result or the timing of any outcome regarding matters described in the referenced release or conference call or otherwise with respect to any regulatory action, administrative proceedings, government investigations, litigation, warning letters, consent decree, rebate program, transition, cost reductions, business strategies, earnings or revenue trends or future financial results, including the outcome of the proposed settlement of the SYSTEM 1 class action litigation. References to products, the consent decree, or the transition or rebate program, or the settlement agreement, are summaries only and do not alter or modify the specific terms of the decree, agreement, program or product clearance or literature. Unless legally required, the Company does not undertake to update or revise any forward-looking statements even if events make clear that any projected results, express or implied, will not be realized. Other potential risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, (a) the potential for increased pressure on pricing that leads to erosion of profit margins, (b) the possibility that market demand will not develop for new technologies, products or applications or the Company’s rebate program, transition plan or other business initiatives will take longer, cost more or produce lower benefits than anticipated, (c) the possibility that application of or compliance with laws, court rulings, certifications, regulations, regulatory actions, including without limitation those relating to previously disclosed FDA warning letters, government investigations, the December 3, 2009 or February 22, 2010 FDA notices, the April 20, 2010 consent decree and related transition plan and rebate program, the SYSTEM 1E device, the Reliance EPS System, the outcome of any pending FDA requests and clearances, or other requirements or standards may delay, limit or prevent new product introductions, affect the production and marketing of existing products or services or otherwise affect Company performance, results, prospects or value, (d) the potential of international unrest or effects of fluctuations in currencies, tax assessments or anticipated rates, raw material costs, benefit or retirement plan costs, or other regulatory compliance costs, (e) the possibility of reduced demand, or reductions in the rate of growth in demand, for the Company’s products and services, (f) the possibility that anticipated growth, cost savings, rebate assumptions, new product acceptance or approvals, including without limitation SYSTEM 1E and accessories thereto, or other results may not be achieved, or that transition, labor, competition, timing, execution, regulatory, governmental, or other issues or risks associated with our business, industry or initiatives including, without limitation, the consent decree, rebate program, and the transition from the SYSTEM 1 processing system or those matters described in our Form 10-K for the year ended March 31, 2010 and other securities filings, may adversely impact company performance, results, prospects or value, (g) the effect of the contraction in credit availability, as well as the ability of our Customers and suppliers to adequately access the credit markets when needed, and (h) those risks described in our securities filings including our Annual Report on Form 10-K for the year ended March 31, 2010 and the Form 10-Q for the quarter ended September 30, 2010 and other securities filings.

STERIS Corporation

Consolidated Condensed Statements of Operations

(In thousands, except per share data)

STERIS Corporation

Consolidated Condensed Balance Sheets

(In thousands)

STERIS Corporation

Income Reconciliation

(In thousands, except per share data)

The following table presents financial measures which are considered to be "non-GAAP financial measures" under Securities Exchange Commission rules. The Company has referred to results of operations excluding the SYSTEM 1 Rebate Program and related disposal costs as well as the SYSTEM 1 class action settlement to provide meaningful comparative analysis between the periods.

STERIS Corporation

Segment Data & Income Analysis

(In thousands)

The following table presents financial measures which are considered to be “non-GAAP financial measures” under Securities Exchange Commission rules. The Company has referred to results of operations excluding the SYSTEM 1 Rebate Program and related disposal costs as well as the SYSTEM 1 class action settlement to provide meaningful comparative analysis between the periods.

STERIS Corporation

Consolidated Condensed Statements of Cash Flows

(In thousands)

The following table presents a financial measure which is considered to be “non-GAAP financial measures” under Securities Exchange Commission rules. Free cash flow is defined by the Company as cash flows from operating activities less purchases of property, plant, equipment and intangibles, net (capital expenditures) plus proceeds from the sale of property, plant, equipment and intangibles. The Company uses free cash flow as a measure to gauge its ability to fund future growth opportunities, repurchase common shares, and pay cash dividends. STERIS’s calculation of free cash flow may vary from other companies.

STERIS Corporation

Unaudited Supplemental Financial Data - Excluding SYSTEM 1 Rebate Program and Class Action Settlement

Third Quarter Fiscal 2011

As of December 31, 2010

This supplemental data is consistent with publicly disclosed information provided in quarterly conference calls, earnings releases and SEC filings, and is subject to all definitions, precautions and limitations contained in those disclosures. Please see the Company's most recent 10-K for definitions (and reconciliation where appropriate) of backlog, free cash flow and net debt.