Mr. David Gane reports

LED MEDICAL DIAGNOSTICS ANNOUNCES NON-BINDING LETTER OF INTENT TO ACQUIRE TECHNOLOGY COMPANY TO ACCELERATE GROWTH

LED Medical Diagnostics Inc. has entered into a non-binding letter of intent to acquire 100 per cent of a growing and profitable technology company that would complement LED's existing business and provides a platform to assist LED in achieving its strategic, long-term business objectives. The potential transaction, if successfully negotiated and closed, would be significantly additive to revenues, immediately accretive to EBITDA (earnings before interest, taxes, depreciation and amortization) and net earnings, and bring additional intellectual property to the company.

The company has engaged Bloom Burton & Co. Ltd., a health-care-specialized investment bank based in Toronto, to act as financial adviser to the company on the proposed transaction.

Completion of the proposed transaction is subject to a number of conditions, including the negotiation and settlement of definitive terms for the proposed transaction and the entering into of a definitive share purchase agreement among the parties, completion of due diligence, receipt of board approval, receipt of final approval of the TSX Venture Exchange, and the receipt of certain other customary consents. There can be no assurance that the proposed transaction will be completed.

We seek Safe Harbor.