American Electromedics Corp. Appoints New President of Equidyne Systems, Inc.

AMHERST, N.H.--(BW HealthWire)--Aug. 6, 1999--

AMERICAN ELECTROMEDICS CORP. (OTCBB:AMER), and its President, Michael Pieniazek, announced the appointment of Frank Ferguson as President of its wholly owned subsidiary, Equidyne Systems, Inc., replacing Lawrence Petersen, who resigned for personal reasons. Mr. Ferguson most recently served as Equidyne's Senior Vice President - Sales and Marketing.

Mr. Ferguson has over 26 years of experience in the medical industry at all levels of sales, marketing, and administrative management, including extensive experience with startup companies. Prior to joining Equidyne in late 1998, he spent 16 years as President and CEO of Ferguson Medical, an international medical marketing and business consulting group functioning as a turnkey organization specialized in management and distribution strategies, commercialization of proprietary medical technologies, and the conduction of FDA and international regulatory affairs, on behalf of its client companies. Mr. Ferguson has served as Vice President of Marketing for Mineralab, Director of Marketing for Datarac, Division of BSL Technologies, National Sales Manager for Stewart - Riess Laboratories and various sales and marketing management positions at Abbott Laboratories. He holds a bachelor's degree in Physiochemical Cytology from the University of California at Berkeley, where he also conducted graduate research in pharmacokinetics and biopharmaceutics, and was Associate Professor of Biological Sciences.

Mr. Pieniazek stated, "We are very fortunate to have someone of Frank's background and abilities to step in and lead Equidyne to the next level of excellence, and we are grateful for Mr. Petersen's contributions to the development and marketing of Equidyne's revolutionary INJEX(TM) needle-less drug delivery system."

Commenting on the change, Mr. Petersen stated, "I am very proud of the progress we have made at Equidyne during my association with the Company. Even though I have accomplished my goals, my heart will remain with Equidyne and its revolutionary technology. With that in mind, I was pleased to recommend Frank Ferguson as my replacement. I have every confidence in his ability to successfully lead Equidyne to worldwide dominance of the needle-free drug delivery market."

Equidyne Systems, Inc., based in San Diego, CA, is a wholly owned subsidiary of American Electromedics Corp. The Company is focused on becoming the worldwide leader in needle-free drug delivery systems for subcutaneous and intramuscular injections. Equidyne's INJEX(TM) Needleless Injector is a spring actuated system that propels a drug, essentially pain-free, through the skin in a fraction of a second. INJEX(TM) administered drugs have very effective absorption rates as compared to hypodermic needle injections. The system is user friendly, economical and eliminates needle stick and disposal problems. The Company has separate supply and distribution agreements in Europe, Japan, Mexico and the United States.

The statements contained in this news release that are not purely historical are forward-looking statements that may involve risks and uncertainties. The Company's actual results may differ significantly from the results contained in the forward-looking statements. Factors that might cause such differences include, but are not limited to, the effect of losses and other factors on the Company's credit facilities, business and results of operations; the Company's limited capital resources and its ability to fulfill its existing obligations and ongoing capital needs; risks associated with excess or obsolete inventory; the potential impairment of assets; the Company's dependence on key customers and their financial viability; the impact of competition; and the Company's abilities to effectively manage growth. These and other risk factors are discussed in the Company's filings on Forms 8-K, 10-QSB and 10-KSB.