Biophan Technologies Showcases New Technologies at Its Annual Shareholder Meeting; Meeting Presentation Materials Are Now Available on the Company's Website.

ROCHESTER, N.Y. -- Biophan Technologies, Inc. (OTC BB: BIPH), a leading developer of next-generation biomedical technology, showcased a variety of new technologies and opportunities in a series of presentations shown at the company's annual shareholder meeting today in West Henrietta, New York. Michael Weiner, Biophan's CEO, opened the meeting with an update on the company's progress and goals for 2005. Other presented topics included an update on further developments in MRI-related business opportunities and overviews of Biophan's technologies, including drug delivery, drug elution, NanoView(TM) contrast agents, biothermal batteries, and ceramic motors. Presenters included John Lanzafame, former president of STS Biopolymers, which was acquired earlier this year by Angiotech Pharmaceuticals (NASDAQ: ANPI). Mr. Lanzafame is leading Biophan's efforts related to the use of the company's nanomagnetic particle coating technology for drug delivery applications, including controlled drug release using electromagnetic fields. The presentation materials are now available for viewing on the company's website at http://www.biophan.com/2004.php.

"This meeting is a great venue for showing our investors in detail what we've accomplished over the past year, and we had a lot of great things to talk about today," stated Michael Weiner, Biophan's CEO. "Biophan's new patents and technologies offer tremendous opportunities for the company, and today's presentations aptly demonstrated the timeliness of our continued efforts to realize our goal of making all implanted medical devices MRI-safe and compatible."

About Biophan Technologies

Biophan Technologies develops and markets cutting-edge technologies designed to make biomedical devices safe and compatible with magnetic resonance imaging (MRI) equipment. The Company develops enabling technologies for implanted medical systems such as pacemakers, and interventional surgical devices such as catheters and guidewires, as well as stents and other implants that can be safely and effectively imaged under MRI. The technology is also being used to create enhanced MRI contrast agents. Committed to growth through innovation and developmental leadership, Biophan and its licensors have fourteen issued U.S. patents and over sixty patents pending, in areas including nanotechnology (nanomagnetic particle coatings), radio frequency filters, polymer composites, biothermal batteries, and photonics. Biophan's technology will help realize its goal of one day making all biomedical devices capable of safely and successfully working with MRI. For more information, please visit www.biophan.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements included in this press release may constitute forward-looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the development of Biophan's MRI technologies; the approval of Biophan's patent applications; the successful implementation of Biophan's research and development programs; the acceptance by the market of Biophan's products; competition and the timing of projects and trends in future operating performance, as well as other factors expressed from time to time in Biophan's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Biophan's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and Biophan undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.