Amnis Eliminates Debt of Over $3 Million.

Business Editors

Amnis Systems Inc. (OTCBB:AMNM) (Frankfurt:ANI), a leading global provider of networked streaming video systems, today announced it has eliminated over $3 million in debt on its balance sheet.

The reduction in debt occurred as a result of completing the final payment to creditors under a workout agreement, conversion of debt to equity by an officer of the company and reduction in bank debt.

"Our ongoing fund raising efforts and reduction in debt have strengthened our balance sheet significantly," said Michael Liccardo, chairman, president and CEO of Amnis Systems Inc. "We expect further improvements in our balance sheet as our business recovers during 2002 and additional funding is received."

About Amnis Systems Inc.

Amnis Systems Inc. (OTCBB:AMNM), which acquired Optivision Inc. in 2001, is the market leader in the networked streaming video market. The company develops, manufactures and delivers MPEG network video products for high-quality video creation, management and distribution worldwide both directly and through leading industry partners. Based in Palo Alto, Calif., Amnis products are used in diverse applications such as such as surveillance, distance learning, content distribution, corporate training, telemedicine, video-on-demand and high-quality video conferencing. For more information about Amnis Systems Inc., visit www.amnisinc.com or phone [phone].

'Safe Harbor' statement under the Private Securities Litigation Reform Act of 1995: This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. Our forward looking statements are based on currently available information which management has assessed but which is dynamic and subject to rapid and even abrupt change due to risks and uncertainties that affect our business, including the unpredictability of future revenues and limited visibility into future demand on which to base our forecasts; the current uncertainty in our marketplace which may impact expected demand, customer selection criteria and sales cycle; our ability to execute on product deliverables and major customer contracts, slower economic growth generally, slower adoption of broadband technology, or cutbacks in information technology spending; and factors beyond our control such as power outages or work stoppages at key customers.