Aethlon Medical to Be Featured at the Undervalued Equities Conference on May 20, 2004 in New York City.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--April 27, 2004

Aethlon Medical, Inc. (OTCBB:AEMD) announced today that its Chairman and CEO, Mr. James A. Joyce, will present at Friedland Capital's Undervalued Equities Conference, to be held on May 20, 2004 at the Harvard Club in New York City. The conference will feature companies covered by The Research Works, a leading provider of Wall Street research for micro-cap & small-cap companies. The conference will be webcast live at www.friedlandcapitalevents.com/webcast.htm.

About Aethlon Medical

Aethlon Medical is pioneering the development of viral filtration devices that rapidly reduce the presence of infectious disease and toxins in the body. Aethlon has published compelling human blood studies of the Hemopurifier(TM) to treat HIV/AIDS and Hepatitis-C (HCV), and most recently, has announced that it is developing pathogen filtration devices to treat infectious agents used in biological warfare and terrorism. The Hemopurifier is a proprietary platform technology that converges the established scientific principles of affinity chromatography and hemodialysis as a means to augment the immune response of clearing viruses and toxins from the blood before cell and organ infection can occur. On March 4, 2004, Aethlon announced a cooperative agreement with the National Center for Biodefense (NCBD) at George Mason University. Under the agreement, Aethlon and the NCBD will collaborate to develop pathogen and toxin filtration devices designed to protect the lives of U.S. Military personnel exposed to infectious agents as a result of biological warfare. For additional information, visit the company's Web site at www.AethlonMedical.com.

Certain of the statements herein may be forward-looking and involve risks and uncertainties. Such forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Aethlon Medical, Inc. to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such potential risks and uncertainties include, without limitation, the Company's ability to raise capital when needed, the Company's ability to complete the development of its planned products, the ability of the Company to obtain FDA and other regulatory approvals permitting the sale of its products, the Company's ability to manufacture its products and provide its services, the impact of government regulations, patent protection on the Company's proprietary technology, product liability exposure, uncertainty of market acceptance, competition, technological change, and other risk factors. In such instances, actual results could differ materially as a result of a variety of factors, including the risks associated with the effect of changing economic conditions and other risk factors detailed in the Company's Securities and Exchange Commission filings.