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DOBI Medical International, Inc. and United Telecoms Limited Sign Sales Distribution Agreement for the ComfortScan™ System in India
 

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Agreement Calls For The Purchase Of 40 ComfortScan Systems In The Next 18 Months

Mahwah, NJ, June 22, 2004. DOBI Medical International, Inc. (OTCBB:DBMI) today announced it has signed an agreement with United Telecoms Limited (UTL) of Bangalore, India, for the marketing, sale and service of DOBI Medical’s ComfortScan™ system in the domestic Indian market. UTL is a diversified conglomerate with interests in telecom products and networking, telemedicine, and banking. The ComfortScan system is a non-invasive, non-ionizing, and gentle dynamic optical imaging system designed to assist physicians in the detection and management of breast cancer.

The agreement calls for UTL to purchase 40 ComfortScan systems over the next 18 months with an initial purchase order of six systems to occur in the third quarter of 2004, subject to the receipt of a non-refundable deposit, the completion of an initial clinical trial, and the issuance of UTL purchase orders. The companies are planning further collaboration in the future that may include local manufacturing and other business elements.

“It is strategically important to have UTL as a business partner in India because of their excellent domestic reputation and expertise. Breast cancer is a significant and growing medical issue in India and we believe that the ComfortScan imaging system is an important tool to assess the suspected malignancy of identified lesions in the breast” Denis O’Connor, Senior Vice president of Sales & Marketing stated. “Our ComfortScan system is now ready for its international commercial launch and we have increasing interest within a number of countries for this product. The agreement with UTL represents a major step forward for DOBI Medical in the international arena.”

“We are proud to be associated with DOBI Medical, and in helping them introduce an innovative product like ComfortScan to the Indian market. Though there are several products from well known names for breast cancer detection in the Indian market, the ComfortScan system represents a quantum jump in technology, ease of use, and accuracy of detection”, stated C. Basavapurnaiah, Chairman of UTL.

Phillip C. Thomas, Chief Executive Officer of DOBI Medical, stated, “India, as the second most populous nation in the world, represents an enormous market opportunity for DOBI Medical. This agreement is an important step towards our 2004 goals and beyond. We continue to be on plan and are meeting all our business objectives to achieve the commercialization of the ComfortScan system.”

About United Telecom Limited

UTL has played a pioneering role in the deployment of digital telephony in India over the last two decades. It offers a host of switching, transmission and network management products, and has a pan Indian marketing and service network. It also operates two statewide e-governance projects in Andhra Pradesh and Gujarat states. Its other interests include electronic manufacturing service which covers complete products from printed circuit board onwards, for all domains. UTL also has operations in the telemedicine and banking sector in India.
 

About DOBI Medical International, Inc.
DOBI Medical is a development stage medical imaging company working to create a new means for the improved diagnosis of cancer through the detection of abnormal vascularization ("angiogenesis") associated with tumors. DOBI Medical’s first application of the technology is the ComfortScan system, a non-invasive, non-ionizing, and gentle dynamic optical imaging system designed to assist physicians in the detection and management of breast cancer. The ComfortScan system is intended to achieve this by providing new, physiology-based imagery of abnormal vascularization in the breast that is not readily available today. 

CAUTIONARY STATEMENT PURSUANT TO SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995  

Statements contained in this press release may contain information that includes or is based upon certain “forward-looking statements” within the meaning of the Securities Litigation Reform Act 1995 relating to the business of DOBI Medical.  These forward-looking statements represent management’s current judgment and assumptions and can be identified by the fact that they do not relate strictly to historical or current facts.  Forward-looking statements are frequently accompanied by the use of such words as “anticipate”, “plans”, “believes”, “expects”, “project”, “intends”, or similar expressions.  Such forward looking statements involve known and unknown risks and uncertainties, including uncertainties relating to our ability to secure additional financing; success of product development efforts; our ability to timely meet federal, local and foreign government and industry regulations and standards; timely and successful completion of our patient clinical trials and submission of our pre-market approval application to the FDA; final approval of our ComfortScan system by the FDA; delays in the manufacturing process caused by our inabilities or the inabilities of our subcontractors to timely meet our specifications; our ability to establish international and domestic distribution networks, our ability to timely export our products to international markets; acceptance and use of our ComfortScan system by physicians, imaging clinics, and patients; our ability to obtain third party payer reimbursement; and our ability to compete on price and quality.  Any one of these or other risks and uncertainties may cause actual results to be materially different from those described herein or elsewhere by us.  Certain of these risks and uncertainties are or will be described in greater detail in our filings from time to time with the Securities and Exchange Commission, which we strongly urge you to read, including our 2003 Annual Report on Form 10-KSB/A and our Quarterly Report for the period ending March 31, 2004.  Subsequent written and oral forward looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the cautionary statements and risk factors set forth above and elsewhere in our reports filed with the Securities and Exchange Commission.  We expressly disclaim any intent or obligation to update any forward looking statements.

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For further information:
Please contact: Phillip C. Thomas, Chief Executive Officer
201-760-6464
pct@igaot.pt

DOBI Medical International
1200 MacArthur Blvd.
Mahwah, New Jersey 07430
Voice: (201) 760 6464
Fax: (201) 760 8860
e-mail: information@igaot.pt

 
 
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