Biophan to Participate in Nano/Bio Convergence 2004 Conference; Cambridge Conference Will Focus on High-Value Applications of Nanobiotechnology.

Business Editors/Health/Medical Writers

3rd Annual Nanotech and Biotech Convergence 2004

BIOWIRE2K

ROCHESTER, N.Y.--(BUSINESS WIRE)--March 23, 2004

Biophan Technologies, Inc. (OTCBB: BIPH) an innovator, developer and marketer of MRI-related and other advanced biomedical technology, announced today that it will present at the Nano/Bio Convergence 2004 Conference. The conference will focus on the inevitable convergence of nanotechnology and biotechnology, and will take place March 28-30, 2004 at the Hyatt Regency in Cambridge, MA.

The Conference covers applications of nanobiotechnology: molecular diagnostics, molecular imaging, drug discovery, development, and delivery.

NanoView(TM), Biophan's new, recently announced technology, will utilize nanomagnetic particles as contrast agents that preferentially bind to tissues of diagnostic interest, creating improved detail and contrast in images. NanoView is intended to improve signal intensity and permit the use of multiple markers.

This product expansion is part of Biophan's strategy to improve the utility of MRI diagnostics by making all biomedical devices safe and image compatible for use with MRI. Biophan's biomagnetic particle technology has been shown to have unique signature capabilities that can be used in MRI contrast agents. See http://www.biophan.com/release_071503.php.

Medical Diagnostics benefit significantly from the rapid growth of Magnetic Resonance Imaging (MRI) technology. However, several million people who have implants such as pacemakers have been denied the benefit of MRI diagnostics, due to the risk of injury or death. The field of interventional medicine and minimally invasive surgery is also limited in its ability to use MRI, due both to patient safety and to interference with image quality caused by surgical tools.

Michael Weiner, Biophan's CEO, will speak on how nanomagnetic particle coatings and other technology developed by Nanoset, LLC, Alfred University, and Biophan Technologies, Inc. have demonstrated significant results in solving these problems.

About Biophan Technologies

Biophan Technologies develops and markets cutting-edge technologies used to make biomedical devices--such as cardiac pacemakers, surgical and diagnostic tools--safe and compatible with magnetic resonance imaging (MRI) equipment. 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 four issued U.S. patents and over fifty patents pending, in areas including nanomagnetic particle coatings, radio frequency filters, polymer composites, 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.

About the Nano/Bio Convergence 2004 Conference

For more information on the Nano/Bio Convergence 2004 Conference, please visit http://www.bccresearch.com/nanobio2004/information.html.

Safe Harbor Statement:

Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 the Company's MRI technologies; the approval of the Company's patent applications; the successful implementation of the Company's research and development programs; the acceptance by the market of the Company'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 the Company's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.