Mr. Chris Koch reports

LED MEDICAL DIAGNOSTICS ANNOUNCES COMPLETION OF ISSUANCE OF SENIOR SECURED DEBENTURES TOTALING CDN$1.1 MILLION

LED Medical Diagnostics Inc. has completed a financing of $1.1-million through the issuance of 10-per-cent senior secured debentures of the company, each in the amount of $10,000 and maturing after 12 months. The debentures were issued as part of a non-brokered private placement of units, with each unit consisting of: (i) a debenture; and (ii) 5,950 common share purchase warrants of the company. The subscription price for each unit was $10,000.

The company granted the warrants as a loan bonus in accordance with exchange Policy 5.1 of the TSX Venture Exchange, and each such warrant entitles the holder thereof to acquire one common share in the capital of the company for 28 U.S. cents for a period of 12 months.

The proceeds will be used by LED for general corporate purposes.

All securities issued in connection with the transaction are subject to a hold period expiring four months after the closing date.

The private placement has received final approval of the TSX-V.