Mr. David Gane reports

LED MEDICAL DIAGNOSTICS ANNOUNCES PROPOSED ISSUANCE OF SENIOR SECURED DEBENTURES

LED Medical Diagnostics Inc. has completed its previously announced financing of $385,000 through the issuance of 13-per-cent senior secured debentures of the company, maturing after 12 months. The debentures were issued to the Bloom Burton Healthcare Lending Trust as part of a non-brokered private placement of units consisting of: (i) debentures in the total principal amount of $385,000; and (ii) a total of 250,000 common shares of the corporation. The subscription price for the units was $385,000.

The company issued the common shares as a loan bonus in accordance with TSX Venture Exchange Policy 5.1.

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 and one day after the closing date.